Consumer

Consumers who purchased Skechers Shape-ups or other toning shoes made by the company will be eligible for a partial refund from a $40 million settlement that the company made with the Federal Trade Commission and 42 states with class action lawsuits. The settlement is being finalized Wednesday in a federal court in the Northern District of Ohio, according to the FTC. "Skechers put its foot in its mouth by making unwarranted claims," said David Vladeck, director of the FTC Bureau of Consumer Protection.

A study shows German consumers remain cautiously confident in Europe's largest economy despite uncertainty in the wider 17-nation eurozone. The GfK institute's forward-looking survey released Friday shows consumer confidence at 5.7 points for June, the same level as in May. The survey shows that a drop in income expectations was offset by a rise in optimism about the future and willingness to buy. GfK says "despite recessionary trends...

Polls show that frustration with Washington has never been higher — and who could argue? Most Americans believe the country is on the wrong track. Most lawmakers openly concede that nothing will get done before the November elections. The leaders of both parties are already trading threats over the possibility of a national debt default next year. Barack Obama got elected by promising to change the tone in Washington, but clearly he's failed, as George W. Bush did before him. That should be a clue that the partisan animosity consuming the political system doesn't originate in the White House.

WASHINGTON — Companies placed fewer orders for computers, machinery, and other capital equipment in April for a second month, indicating manufacturing in the United States is cooling. Bookings for nonmilitary goods excluding aircraft fell 1.9 percent after dropping 2.2 percent in March, the first back-to-back decline in a year, the Commerce Department said Thursday in Washington. Other reports showed claims for jobless benefits were little changed last week and consumer confidence hovered near a four-month low. Slowdowns in Europe and parts of Asia combined with a cooling in business spending in...

A new survey shows German consumer confidence slipping — though only slightly — as the debt crisis in the eurozone and beyond feeds worries about the strength of the economy. The GfK research group said Thursday its forward-looking confidence indicator for September stands at 5.2 points. That's down from the August figure of 5.3 — which GfK revised downward from its initial forecast of 5.4. The group says Germans' willingness to buy remains "surprisingly robust" but a subindex measuring consumers' economic expectations has slumped to its lowest level since June 2010.

WASHINGTON - The head of the Federal Deposit Insurance Corp. pitched again yesterday for a new agency for consumer financial protection, now a key sticking point in Senate talks in legislation to overhaul the finance system. FDIC chairwoman Sheila Bair said a new agency was needed and she believes it “would help community banks, not hurt them.’’ The banking industry overall opposes creation of a new agency, which would enforce rules and police the fine print of credit cards, mortgages, and other financial transactions.

WASHINGTON - The Consumer Financial Protection Bureau is expected to launch an inquiry today into banks' overdraft practices, which have been in regulatory cross hairs in recent years. The bureau said it will look into whether banks are reordering customers' debit-card charges to maximize overdraft fees. Reordering transactions can double or triple penalties, and the practice has been the target of several class-action lawsuits against the nation's biggest banks. The inquiry also will focus on bank overdraft policies, how they market the plans, and their impact on...

WASHINGTON - The Obama administration's consumer financial watchdog agency is backing off a plan to limit big upfront fees on credit cards. The Consumer Financial Protection Bureau acknowledged Thursday that its proposal would increase costs for cardholders and allow banks to charge more in fees. Banks aren't allowed to charge fees totaling more than 25 percent of a person's credit limit in the first year that the account exists. But there's no limit to the fees they can charge before the card is activated.

Stock futures edged lower Tuesday ahead of a report that economists expect will show just how much Americans are feeling squeezed by rising gasoline prices. Dow Jones industrial average futures fell 2 points to 13,198 and the Standard & Poor's 500 index futures fell 0.4 points to 1,414.70. The Nasdaq composite index futures fell a point to 2,776. The price for a gallon of gas has risen 17 cents this month alone, well ahead of the traditional start of the driving season. That begins over the Memorial Day weekend.

NEW YORK — Americans are starting to get their finances in order. In an encouraging round of earnings reports, major banks say fewer mortgages are going bad, credit card defaults are down, and more people are paying the bills on time. One of the nation’s largest consumer lenders, Wells Fargo, said yesterday that 29 percent fewer loans went bad in the last three months of 2010 than the year before. And late payments on loans considered likely to default declined for the first time since 2008.

Auto sales have yet to fully recover from the economic downturn and dealers say they are facing a stubborn obstacle: Your used car is working just fine. For years the auto industry has counted on car owners wearing out or tiring of their current rides and buying new. But owners are holding onto their cars much longer now, in part because cars last longer than they used to. Not only is this stunting sales of new cars, but also depriving dealers of an important source of secondary income — used cars they received as trade-ins.

A look at how selected makers of phones and other consumer-electronic gadgets are faring: April 19: Microsoft Corp. says it shipped 1.4 million Xbox 360 consoles during the first three months of the year, about half of the 2.7 million shipped a year earlier. Nokia Corp. says sales of smartphones dropped to 12 million in the first quarter, from 24 million a year earlier, while volume sales of cellphones fell to 83 million from 108 million a year earlier. April 24: Apple Inc. says it sold 35 million iPhones in the quarter, almost twice as many as it sold a year ago and above analyst...

The May 9 edition of the Globe included an article on the State House debate on health care payment reform ("2 Mass. plans vie for savings on health care," Page A1) and a column by Derrick Z. Jackson on obesity and health care costs ("Obesity, the new cigarette," Op-ed). Providers were the primary target in the payment reform article; the food industry the target in the column about obesity. What is missing in both debates is a mention of personal responsibility and the role of the consumer in controlling skyrocketing costs.

What only weeks ago was seen as a serious threat to the economic recovery could now turn into a stimulus everyone can love. Oil and gasoline prices are sinking, giving relief to businesses and consumers who a few weeks ago seemed about to face the highest fuel prices ever. President Barack Obama's re-election prospects could also benefit, especially if prices keep falling as some analysts expect. A majority of Americans disapproved of Obama's handling of gas prices in an AP-GfK poll early this month.

WASHINGTON - Americans are starting to see some relief from higher gas prices, a change that could revive the economy in the months ahead. Consumer prices were flat in April, largely because of a decline in gas prices. Lower prices at the pump may be combining with steady job growth to power more spending on big purchases. Sales of autos, furniture, and electronics all rose in April. And Americans spent more at restaurants and bars - generally a sign of confidence in the economy.

Stock futures rose Tuesday as government data showed that consumers spent slightly more in April as prices remained flat. Dow Jones industrial average futures rose 60 points to 12,715. Standard & Poor's 500 futures added 7.6 points to 1,341.7. Nasdaq composite futures rose 19 points to 2,604. With gasoline prices down and possibly an earlier-than-usual start to the spring shopping season, the Commerce Department reported that retail sales rose 0.1 percent in April. Retail spending had risen 0.7 percent in March and 1 percent in February.

Verizon backed away yesterday from plans to charge customers a $2 fee to pay their bills online or over the phone after receiving thousands of complaints, the latest victory in a wave of consumer activism that has roiled some of the nation's largest companies. The announcement came a day after the fee was made public. Consumer advocacy groups derided the charge as "pay to pay. " The fee also caught the eye of Verizon's regulator, the Federal Communications Commission, which had said it would look into the issue.

WASHINGTON — Businesses ordered more factory goods in November, responding to stronger consumer demand for household appliances, computers, and furniture. The Commerce Department said yesterday that total orders increased 0.7 percent in November. That followed a 0.7 percent drop in October. The overall figure was pulled down by a drop in orders from the volatile transportation sector. Excluding aircraft and autos, orders rose 2.4 percent — the largest jump for that category in eight months.

U.S. consumer prices were flat last month as cheaper gas offset modest increases for food, clothing and housing. The data indicate that inflation remains in check. The Labor Department said Tuesday that the seasonally adjusted consumer price index was unchanged in April, after a 0.3 percent gain in March. Excluding volatile food and gas costs, so-called "core" prices rose 0.2 percent. That was the same as in March. Over the past 12 months, prices have risen 2.3 percent. It's the smallest increase in more than a year.