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Tony Abbott, who might be Australia's next prime minister, was making the case that current prime minister Kevin Rudd has too much decision-making power. His words struck a bum note, though.

Gross domestic product expanded at a rate of 1.8 percent in the first quarter, down from the 2.4 percent pace previously reported.

The Labor Department announced Friday that the economy added 195,000 new jobs in June, exceeding expectations. Concerns remain over the fact that many of the jobs being added are for relatively low-paying seasonal work in leisure and hospitality, and the fact that the number of long-term unemployed remains stagnant.

The strong temblors also destroyed hundreds of homes in Gansu province. Rescue operations have been complicated by downpours and aftershocks.

It’s estimated that the Kirtland Air Force Base jet fuel spill is twice the size of the Exxon Valdez spill. Officials announced that the first, large…

The good news: Inflation remains in check. The bad news: Consumers were less willing to spend last month.

The housing sector has been one of the economy's bright spots, and economists expect that to continue. But they also say that until new-home construction catches up, the supply of homes for sale will remain tight.

Tornadoes, snow, rain and wind. That is the forecast for the Midwest and South this weekend, kind of similar to what those parts of the country went through this past week.

The 1.1 percent increase is a sign that despite higher payroll taxes and increases in the price of such things as gasoline, consumers are still willing to spend. And that's good news for the economy.

KUNM Call In Show Thu. 6/27/13 8a: One out of five New Mexico seniors doesn't get enough to eat. Why is there such food insecurity among the elderly here…