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By Alister Bull
July 3, 2008
WASHINGTON (Reuters) - U.S. employers cut workers for a sixth straight month in June for the longest
such streak since 2002 and the country's vast service sector unexpectedly contracted, underscoring the economy's frailty.
The Labor Department said on Thursday that 62,000 nonfarm jobs were shed last month, bringing the number
of jobs lost this year to 438,000 as a housing market crash chilled growth.
Oil giants return to IraqIndependent, UK - 06-18-08
"If Iraq needs help
from international oil companies, they will be invited to co-operate with the Iraqi National Oil Company
[Inoc], on terms and conditions
By John W. Schoen
Senior Producer
MSNBC
Posted June 17, 2008
Also: Has the government's tax rebate economic
stimulus plan failed?
Is an extra couple of hundred dollars at the gas pump enough to break
the budget of the average American? By itself, maybe not. But rising gas prices are just the latest in a series of blows that
have consumers tightening their belts.
Floods Threaten World's Corn
Saturday 14 June 2008
by: Stevenson Jacobs, The Associated Press
Reduced supply may drive food prices
higher.
Floods that have inundated the Midwest could reduce world corn supplies and drive food prices higher at
a time when Americans are stretching their grocery budgets and when people in poor countries have rioted over rising food
costs.
Congressman Dennis Kucinich (D-Ohio) introduced 35 articles of impeachment against President George W. Bush late on Monday during
a speech on the House floor.
Kucinich, a former contender for the Democratic
presidential nomination, pointed to "high crimes and misdemeanors" committed by the Bush administration, including misrepresenting
intelligence in the lead-up to the war, violating domestic and international laws against torture, illegally spying on American
citizens, obstructing justice and governmental oversight, and dozens of other violations.
by: Clifford Krauss, The New York Time
06/9/08
Tchula, Mississippi - Gasoline prices reached a national average of $4 a gallon
for the first time over the weekend, adding more strain to motorists across the country.
But the pain is not being felt uniformly. Across broad swaths of the South,
Southwest and the upper Great Plains, the combination of low incomes, high gas prices and heavy dependence on pickup trucks
and vans is putting an even tighter squeeze on family budgets.
One Historic Night, Two Americas
by: Frank Rich, The New York Times
06/08/08
When Barack Obama achieved his historic victory on Tuesday night, the battle was joined between two
Americas. Not John Edwards's two Americas, divided between rich and poor. Not the Americas split by race, gender, party or
ideology. What looms instead is an epic showdown between two wildly different visions of the country, from the ground up.
By Sandra Hernandez and Daniel Kruger
June 7 (Bloomberg) -- Treasury notes posted their biggest gains since February after a government report showed the U.S. unemployment rate rose in May by the most in more than two decades and the economy lost jobs for a fifth straight month.
June 7 (Bloomberg) -- The dollar fell the most against the euro in two months as the U.S. unemployment
rate posted its biggest increase in two decades and the European Central Bank signaled it may raise interest rates in July.
The U.S. currency weakened this week as ECB President Jean- Claude Trichet said policy makers are in a state of ``heightened alertness'' over inflation. His remarks pushed the
dollar down from a four-week high touched after Fed Chairman Ben S. Bernanke said the central bank is ``attentive'' to the implications of the weakened currency. Crude oil surged
to a record.
06/07/08
New York - Oil prices shot up more than $11 to a new record above $139 Friday after Morgan Stanley
predicted prices would hit $150 by the Fourth of July.
The unemployment rate surged to 5.5 percent in May from 5 percent - the sharpest monthly spike in
22 years - as the economy lost 49,000 jobs, registering a fifth consecutive month of decline, the Labor Department reported
Friday.
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