Headline News: Economy

• Slowly, Americans are regaining their lost wealth (AP)
  

  AP - Americans are recovering their shrunken wealth — gradually. Household net worth rose last quarter, mainly because the healing economy boosted stock portfolios. But the gain was slight. And it was less than in the previous two quarters.

  
  
  
• US household wealth jumps for first time since recession (AFP)
  

  AFP - American household wealth jumped in 2009 for the first time since a brutal recession struck the country, underscoring the impact of an economic recovery, data from the central bank showed Thursday.

  
  
  
• Obama lobbied on black unemployment, immigration (Reuters)
  

  Reuters - President Barack Obama on Thursday faced pressure to help create jobs in African-American communities and deliver an immigration overhaul even as he tried to push healthcare reform across the finish line.

  
  
  
• States tap stimulus as more U.S. families seek aid (Reuters)
  Reuters - Many states have used funds from the $863 billion U.S. economic stimulus plan to help give a rising number of poor families emergency cash assistance, the Government Accountability Office said on Thursday.
  
• A look at global economic developments (AP)
  AP - A look at economic developments and activity in major stock markets around the world Thursday:
  
• Fed emergency loans decline in past week (AP)
  AP - Banks borrowed less from the Federal Reserve's emergency lending program over the past week, providing further evidence that the strains caused by the financial crisis are easing.
  
• AT&T CEO accepts bonus; pay rises to $20.2M (AP)
  AP - The frugality of the recession eased in the 2009 pay package for AT&T Inc. CEO Randall Stephenson, who resumed taking a bonus and saw his compensation rise by one-third to $20.2 million, according to Associated Press calculations on a regulatory filing Thursday.
  
• Jobless claims fall, trade gap narrows on oil (Reuters)
  

  Reuters - The number of U.S. workers filing new claims for unemployment benefits fell only slightly last week, indicating a sluggish return to jobs growth. The U.S. trade gap shrank as oil imports fell.

  
  
  
• Citigroup sees return to sustained profitability (Reuters)
  

  Reuters - Citigroup Inc Chief Executive Vikram Pandit told investors on Thursday the bank is on track to return to sustained profitability and losses from some of its worst assets should be manageable if the economy does not deteriorate.

  
  
  
• Coca-Cola FEMSA bottler to change bylaws (AP)
  AP - Drinks company Fomento Economico Mexicano SAB said Wednesday its bottler, Coca-Cola FEMSA, plans to change its bylaws so a simple majority of its board can appoint and set compensation of the CEO and people who report directly to him or her.
  
• Obama launches export-doubling strategy (AFP)
  

  AFP - President Barack Obama put into action Thursday an ambitious strategy to double US exports by prising open lucrative emerging markets in a bid to ease unemployment amid fragile economic recovery.

  
  
  
• Summary Box: Trade deficit unexpectedly narrows (AP)
  AP - TRADE GAP: The U.S. trade deficit narrowed to $37.3 billion in January, a decline of 6.6 percent from December, reflecting a big drop in imports as shipments of foreign oil and autos both declined.
  
• Obama outlines strategy to boost exports (Reuters)
  

  Reuters - President Barack Obama, anxious to spur growth and cut high unemployment, laid out a plan on Thursday to double U.S. exports through tougher enforcement of trade laws, increased government advocacy and more credit assistance for small and medium-sized companies.

  
  
  
• Fed seen keeping "extended period" low rate vow (Reuters)
  Reuters - Lingering U.S. labor market weakness and nagging doubts about the solidity of the economic recovery are expected to keep the Federal Reserve committed to holding borrowing costs very low for a long time at a monetary policy meeting next week.
  
• Appetite for reform fading: NYSE Euronext CEO (Reuters)
  Reuters - The appetite and sense of urgency for world financial reform have waned as markets have rebounded and the world economy has shown signs of recovering, the head of exchange operator NYSE Euronext said on Thursday.
  
• Obama issues new call on China over yuan (AFP)
  

  AFP - US President Barack Obama on Thursday issued a fresh call to China to embrace a "market oriented" exchange rate for the yuan, saying such a move would help rebalance the global economy.

  
  
  
• Senate plan on US finance reform to be unveiled (AFP)
  

  AFP - A key US senator said he would unveil new legislation on Monday aimed at giving American financial rules their biggest overhaul since the Great Depression in the wake of the 2008 meltdown.

  
  
  
• EU rejects US criticism over hedge fund curbs (AFP)
  

  AFP - European officials on Thursday defended planned new EU legislation regulating high-end financial services from "protectionist" charges, amid anger from US Treasury chief Timothy Geithner.

  
  
  
• Jobless claims by state, at a glance (AP)
  AP - First-time claims for unemployment benefits slipped last week by 6,000 to 462,000 for the week ending March 6. The total nearly matched analysts' estimates and was the second straight drop.
  
• Summary Box: Jobless claims drop for second week (AP)
  AP - JOBLESS CLAIMS DROP: New claims for unemployment benefits fell last week to a seasonally adjusted 462,000, nearly matching analysts' estimates. It was the second straight drop.