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Economy

Rising food prices hurting consumers

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While rising gas prices get the headlines, rising grocery prices are also chewing through our wallets. Full story...
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Local truck drivers pulling rigs off road

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Oil company CEOs went before Congress today to discuss sky-rocketing fuel prices. The soaring costs are hitting truckers hard. An independent trucker's strike has already broken out sporadically in several cities across the country from Los Angeles to New Jersey. Full story...
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Professor: Economic crisis affecting consumer confidence

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Even during these uncertain economic times the Federal Reserve has not yet said whether we're in a recession. There's certainly no doubt the economy is in crisis, and that's due in large part to problems in the financial sector. Full story...
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Opinions mixed on local housing market conditions

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If you ask 10 people you'll get 10 different opinions. That seems to be the case with Wilmington's real estate market. Between conflicting media reports and convoluted numbers, it's hard to determine just how well our housing market is doing. Full story...
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Housing market trending toward rentals

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Home prices are on the decline across most of the country, but even with lower costs, some realtors say buyers are hard to come by. Local realtors say the market is trending toward long term rentals as an option. Full story...
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Wachovia: housing downturn far from over

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The chief risk officer at Wachovia says the downturn in the nation's housing market is far from over. Don Truslow told analysts on a Deutsche Bank Securities conference call today that it feels like the downturn has a ways to go. Full story...
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Oil tops $109 a barrel

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Another day, another record for the price of a barrel of crude oil. Oil prices topped $109 a barrel, largely due to the weakening dollar. It may have you wondering just how high the price can go. Full story...
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NC unemployment rate moves up to 4.9 percent

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North Carolina's unemployment rate increased to 4.9 percent in January, matching the nationwide rate. Full story...
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Gas could hit $4 a gallon by Memorial Day

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By late winter drivers typically get a break from rising gas prices before the summer's busy driving season. But if trends continue, costs could reach beyond $4 a gallon by Memorial Day. Full story...
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Foreclosure help doesn't apply to many locals

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The federal government has been trying to mitigate the mortgage crisis, but it may not be able to offset the damage already done in parts of the Cape Fear region. Full story...
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Gas prices to skyrocket this spring

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If you're looking forward to spring, the government has news that may make you wish winter would stick around. Full story...
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Bank of America, 5 other lenders offer broader mortgage plan

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Bank of America and five other major lenders are widening their effort to help borrowers and let overdue homeowners suspend foreclosures for 30 days while more affordable loans are worked out. Full story...
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Owners walking away from homes

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With mortgage payments through the roof and house prices dropping, some homeowners are simply walking away from their homes. Full story...
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Showdown vote looms on Senate economic aid plan

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The Senate is expected to vote later today on the Democrats' heftier economic stimulus plan. The legislation would tack more than 40 billion dollars onto the House-passed bill. Full story...
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Economists: Recession is now

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A downbeat report about the service sector of the economy spooked investors on Super Tuesday. Full story...
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