- Goldman agrees $60m subprime deal
stress tests unleash fee bonanza
the american economy shed another 345,000 jobs in may as the unemployment rate spiked to 9.4 percent, but the losses were far smaller than economists expected, amplifying hopes of recovery.
the unemployment rate surged to 9.7 percent in august, signaling that joblessness and financial anxiety are likely to endure in millions of american homes for many months. the labor department’s latest employment report, released friday, added weight to a growing belief that - technically - the economy has already escaped the grip of recession. though another 216,000 net jobs vanished in august, the losses continued to moderate from their worst numbers of the year. yet the report also lent credence to a growing consensus that, even as the economy resumes expansion, the recovery is likely to be weak, prompting most companies to hold back from aggressive hiring.
so what will emerge on top? the kindle or some other e-reader? the bigger question is whether readers, used to getting content for free on the web, will be willing to pay for it on a device that's better suited to reading.