Economy

* Markets Approach Milestone Levels
Stock and bond markets flirted with milestones on Monday, as the outlook for economic growth brightened following a string of reports showing signs of a pickup in the labor market, service sector and housing.

* Clash of Old, New Economy
The old economy and the new economy are squaring off in Wilmington, N.C., which is having second thoughts about revisiting its roots in heavy industry.

* Some Jobless Benefits Run Out
Tens of thousands of jobless Americans could lose unemployment benefits after Congress failed to enact a short-term extension, with Democratic and Republican lawmakers exchanging blame.

* Inflation Fears Cut Two Ways
At the Federal Reserve, a debate is intensifying among officials over the likely course of inflation, as the central bank plots an exit from an unprecedented experiment in easy money.

* Failures in Germany Slow Rebound
Concern is growing that Germany’s manufacturing rebound is too weak and too late to save many of the midsize companies that form the backbone of its industrial base, a factor that could slow economic recovery in Germany and the euro zone.

* Parents’ Struggles Hit Adult Kids
Pay cuts, layoffs and shrunken stock portfolios mean many parents can no longer pay for college, down payments and extra cash for adult children.

* Consumers Not Likely to Feel Commodity Cost Bite
Prices are going up for commodities such as iron ore and coal, which means higher production costs, but little if any of this will filter through to consumers buying things such as cars and dishwashers.

* U.S. to Delay Currency Report on China
The U.S. will delay a report to Congress on China’s currency policy, but Geithner said the Asian giant is relying on “currency intervention” and must move to a “more market-oriented exchange rate.”

* Central Bank Reassures Seoul
The South Korean government and central bank vowed to closely cooperate in economic and monetary policies, reaffirming a widely held view that the country’s policy interest rate will be kept lower for now.

* Job Market Picks Up, but Slowly
U.S. employers added 162,000 jobs in March, the largest gain since 2007. But nearly one-third came from temporary hiring for the Census. The unemployment rate was steady at 9.7%.