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The U.S. economy contracted 0.7% in the first quarter, the Commerce Department said, reversing an estimate that gross domestic product rose 0.2%. Most of the revision was based on data showing that imports increased more and exports grew less than […]

U.S. buyers signed contracts to acquire previously owned homes last month at the fastest rate in almost nine years, the National Association of Realtors said. The group’s index of pending home sales reached a seasonally adjusted 112.4, the fourth monthly […]

Nearly one-third of U.S. workers have no pension or retirement savings, according to a Federal Reserve survey. Of more than 5,800 respondents, 38% intend to work as long as possible or do not plan to retire.

Economists are trimming their second-quarter growth forecasts for the U.S. economy to less than 3% from previous estimates of nearly 4%. They cite less-than-encouraging early data that are unlikely to be clarified much by durable-goods and home sales figures due […]

Health insurance providers are seeking significant increases in premiums in several states in a move they say is necessary to cover the medical costs of individuals who have newly enrolled as part of the Affordable Care Act. However, the Obama […]

U.S. Federal Reserve policymakers rejected June as a date to begin raising interest rates, according to minutes from their April meeting. Their feeling was that data by then would provide insufficient justification, although they expected a pickup in the economy […]

The U.S. Supreme Court has ruled that employers providing 401(k) plans have an ongoing duty to review investments offered. It’s necessary to “monitor trust investments and remove imprudent ones,” according to the ruling. A six-year statute of limitations on breach […]

Advertisement MAY 18, 2015 SIGN UP | FORWARD | ARCHIVE | ADVERTISE Brought to you by the American Institute of CPAs   Top Story Advertisement More data point to weakening U.S. economy Fairly encouraging U.S. employment numbers are unlikely to […]

The four-week average of initial unemployment claims reached its lowest level in 15 years, the Labor Department said. Claims last week fell by 1,000, to 264,000, more than analysts predicted.