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Economy & Fed
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US retail data show signs of resilience
Fewer car purchases put a dent in US retail sales last month, which fell 0.2 per cent, but excluding autos total sales increased, indicating signs of resilience in consumer spending
Unskilled workers struggle with tide of job losses
US payrolls have declined for four consecutive months, but job losses have to date been moderate compared with previous recessions. Lay-offs have been concentrated in manufacturing, retail and construction
Comment: Is Larry Summers the canary in the intellectual mine
Developing countries should take notice: the proposed remedies on globalisation are susceptible to protectionist misuse and point to shifting ground in the debate, write Devesh Kapur, Pratap Mehta and Arvind Subramanian
Comment: Beware US parallels with Japan
The differences between the two nations’ crises are big enough to suggest that the policy prescriptions should also be different, writes Takatoshi Ito
Gideon Rachman: Oily truth about foreign policy
In 1973 the US imported 33% of its oil; today it imports about 60% and this figure could rise to 70 per cent by 2020. US politicians have, so far, responded to this problem with a mixture of wishful thinking and anger, writes Gideon Rachman
EU using ‘banned’ poultry cleaning
Documents show that European poultry producers use a chlorine solution on exported chicken, a method that has led to a de facto bar on US sales in the EU for 11 years
Analysis: Banks are starting to find buyers for mortgage securities
A turning point in the credit crisis should come when markets are re-established for home loans as well as corporate debt, and there are glimmerings of hope
US trade deficit narrowed in March
The US trade deficit narrowed by 5.7 per cent to $58.2bn in March, as weak demand for imported goods due to the economic downturn offset a shrinking of US export volume that was ascribed to a fall in aircraft shipments
Mood swings against US homes rescue
A senior White House official set out two conditions that would have to be met if the administration is to reach agreement with Democrats on a housing finance plan
US shoppers stick to the bargain basement
US shoppers continued to veer towards cheaper stores and essential goods and away from discretionary items in April, but brought some relief for retailers after a poor start to the year
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