Business & Financial Headlines

President Obama Budget Predicts $1.3 Trillion Deficit For 2012 The deficit would drop to $901 billion next year under the administration's tax and spending policies. 0 Comments (Full Story)

Report: Energy Loans Could Cost $3 Billon 1 Comment An independent review finds the government could lose about $3 billion on Energy Department loans for green energy programs — far less than the $10 billion Congress set aside for the high-risk program. (Full Story)

Bernanke: Weak Housing Has Hurt Consumer Spending 1 Comment Ben Bernanke says declines in home prices have forced many Americans to cut back sharply on spending warns that the trend could continue to weigh on the economy for years. (Full Story)

Rate On 30-Year Mortgage Stays At 3.87 Percent 0 Comments The average rate on the 30-year fixed mortgage stayed at a record low this week, providing some added incentive for those looking to buy a home or refinance. (Full Story)

White House To Promote More Positive Jobs Outlook 2 Comments So the White House plans to issue a new forecast projecting the creation of 2 million jobs this year. That could bring the national unemployment rate down to about 8 percent. (Full Story)

Powerball Top Prize Soars Above $300 Million 0 Comments The pot now swells to $310 million for Saturday night's drawing. (Full Story)

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Consumer News

Tassimo Coffee Makers Recalled Over Burn Risk The 4 million packages of Tassimo espresso T-discs, manufactured by Kraft Foods Global Inc., in Illinois, were recalled after 21 reports of problems. 0 Comments (Full Story)

Kodak To Stop Making Cameras, Digital Frames 0 Comments Kodak says it will stop making digital cameras, pocket video cameras and digital picture frames in order to focus on its more profitable businesses. (Full Story)

Faulty Appliance Fires On The Rise 3 Comments Home appliances are responsible for 150,000 fires a year, causing about $500 million dollars in damage. (Full Story)

Taco Bell Enters Breakfast Arena 4 Comments The Mexican-style restaurant chain has introduced a breakfast menu at almost 800 restaurants. (Full Story)

J.C. Penney Gets Rid Of Hundreds Of Sales 13 Comments The retailer is instead rolling out a three-tiered value strategy. (Full Story)

GM CEO Defends Company Over Chevy Volt Battery 1 Comment The chairman and CEO of General Motors is defending the company over battery fires in Chevrolet Volt electric cars last year. (Full Story)

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