Financial Outlook

Consumer spending, the bulwark of economic growth, is showing signs of life as the economy transitions from recession to recovery.

The world economy has “turned the corner” toward recovery, but substantial regulatory reform is needed to prevent a return to the edge of the abyss, the International Monetary Fund said Wednesday in its semi-annual report on global financial stability.

Despite the best back-to-back quarters of gains since 1975 for the U.S. stock market and a 56.2% rise in a 6 1/2-month span, many investors are questioning whether the good times can last.

The Brownstone Café offers frugal cooking class.

The recession has scarcely affected U.S. workers’ definition of their ideal job, with most saying their concept of the perfect post would be the same if the economy improves, according to a new study.

After the success of its “10 for $10″ toy program last year, Wal-Mart Stores Inc. is expanding its lineup of $10 toys for the holiday season to more than 100 items.

Sept.

Sept. 30 — PepsiCo Inc., the world’s largest snack-food maker, won’t see a “pop” in food and beverage consumption as the U.S. economy improves, Chairman and Chief Executive Officer Indra Nooyi said.

After the success of its “10 for $10″ toy program last year, Wal-Mart Stores Inc. is expanding its lineup of $10 toys for the holiday season to more than 100 items.

The Federal Reserve may need to begin to pull back its extensive support for the weak U.S. economy before it has healed enough to substantially lower the jobless rate and get factories working again, Fed Vice Chairman Donald Kohn said on Wednesday.