WASHINGTON (AP) -- Consumers have boosted their borrowing at the fastest pace in three months, turning increasingly to their credit cards to replace home equity loans as a source of ready cash.
The Federal Reserve reported that consumer credit rose at an annual rate of 5.9 percent in August, the biggest increase since a 7.9 percent jump in May.
HOUSTON, Oct. 4 — In Texas, it can be a long wait for a doctor: up to six months.
That is not for an appointment. That is the time it can take the Texas Medical Board to process applications to practice.
Four years after Texas voters approved a constitutional amendment limiting awards in medical malpractice lawsuits, doctors are responding as supporters predicted, arriving from all parts of the country to swell the ranks of specialists at Texas hospitals and bring professional health care to some long-underserved rural areas.
The influx, raising the state’s abysmally low ranking in physicians per capita, has flooded the medical board’s offices in Austin with applications for licenses, close to 2500 at last count.
SEOUL, South Korea — South Korea suspended US beef imports on Friday after inspectors reportedly found a recent shipment contained bone that is banned due to concerns over mad cow disease.
The Agriculture Ministry said two vertebrae segments were found in one box of meat in an 18.5-ton shipment from the US that arrived last week. Vertebrae are among parts — also including skulls and eyes — believed at risk of carrying the brain-wasting disease.
Treasury Secretary Henry M Paulson will recuse himself from a government review of the merger between 3Com and a Chinese company because of his past relationship with an investment firm involved in the deal.
US employment rose by 110,000 jobs in September and a weak report in August was revised upward, offering signs that the economy continues to grow even as the nation wrestles with turmoil in the credit markets.
The Labor Department report released yesterday showed widespread job losses in the housing and mortgage-related industries, but gains in health care and professional services more than made up the difference.
The report sent stock prices up sharply, with the Standard & Poor's 500-stock index closing at a new high. The report also overshadowed news that two major banks would absorb large losses related to the subprime mortgage crisis.
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The jobs report represented an about-face from a month ago, when the federal government surprised economists with estimates that the number of jobs had declined by 4000, prompting worries that a recession might be in the offing. Those fears eased yesterday after the Labor Department said it revised the August numbers to show that the economy gained 89,000 jobs that month.
WASHINGTON (Reuters) - President George W Bush said on Friday the latest employment report showed a "vibrant and strong" economy.
Bush was speaking to reporters after the government reported that US employers added 110,000 new jobs in September, showing a more resilient labor market than previously thought.
this is strong? i thought jobs have to grow at least 150,000 per month to keep up with population growth.
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