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Showing posts with the label economy

As economy falters, more Chinese migrants seek asylum at US border

A major influx of Chinese migration to the United States on a relatively new and perilous route through Panama's Darién Gap jungle has become increasingly popular thanks to social media SAN DIEGO -- The young Chinese man looked lost and exhausted when Border Patrol agents left him at a transit station. Deng Guangsen, 28, had spent the last two months traveling to San Diego from the southern Chinese province of Guangdong, through seven countries on plane, bus and foot, including traversing Panama's dangerous Darién Gap jungle. “I feel nothing,” Deng said in the San Diego parking lot, insisting on using the broken English he learned from the “Harry Potter” film series. “I have no brother, no sister. I have nobody.” Deng is part of a major influx of Chinese migration to the United States on a relatively new and perilous route that has become increasingly popular with the help of social media. Chinese people were the fourth-highest nationality, after Venezuelans, Ecuadorians and H...

Stock market today: Wall Street slips after tepid report on economy

U.S. stocks drifted lower to start what could be a quiet stretch following several weeks of gains NEW YORK -- U.S. stocks drifted lower Monday to start what could be a quiet stretch following their best week since March. The S &P 500 lost 8.58 points, or 0.2%, to 4,273.79. The Dow Jones Industrial Average fell 199.90, or 0.6%, to 33,562.86, while the Nasdaq composite slipped 11.34, or 0.1%, to 13,229.43. The majority of stocks on Wall Street sank after a report showed growth fell short of economists' forecasts for businesses in the construction, accommodation and other U.S. services industries last month. It was still a fifth straight month of expansion, though. It's the latest mixed reading for a U.S. economy that has defied forecasts for a recession but has begun to slow under the weight of higher interest rates. “There’s this muddle-through environment that the market is starting to work through,” said Anthony Saglimbene, chief market strategist at Ameriprise Financial....

Top DHS official warns of 'absolute threat' to public safety, economy from organized retail crime

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Authorities are ringing alarm bells about the growing threat of organized retail crime, where groups of criminals steal high-value items to sell online or elsewhere. The surveillance video, from earlier this year, is startling: Four masked men march in a line through a Home Depot store in New York -- two of them looking like menacing bodyguards -- while the two others confidently push carts stacked with almost a hundred boxes of high-value items that they take but never pay for. When the same crew, allegedly doing the same thing, was approached by a security officer at another Home Depot store nearby, one of the men threatened the guard. "I'll knock you out. This isn't worth dying for," he said, according to prosecutors. MORE: 83-year-old employee dies after being shoved during Home Depot theft: Police As Home Depot executives describe it, that New York-area crew is part of a growing threat to Americans across the country: so-called organized retail crime , where ...