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Consumer Credit Drops Slightly

WASHINGTON (UPI) — Consumer borrowing dropped 1.5 percent in July after climbing 5.3 percent in June, the U.S. Federal Reserve said Monday. The Fed said non-revolving credit, which includes auto loans, personal loans and student loans, rose 1 percent to $1.849 trillion in July. Revolving credit, which includes lines of credit and credit cards, fell […]

Amazon Backtracks On Fire Tablet Ads

SEATTLE (UPI) — After online criticism of Amazon’s decision to feature ads on all its new Kindle Fire tablets, the company now says customers can pay to eliminate them. When Amazon announced its larger Kindle Fire tablets Thursday, priced from $159 to $599, it said they would feature “special offer” full-screen ads on the devices’ […]

Wall Street Places Its Bets On QE3

NEW YORK (UPI) — Wall Street analysts are betting both ways on whether or not the U.S. Federal Reserve will announce a new round of bond buying Thursday. To illustrate how divided Wall Street is on the possibility the Fed could go with a third round of bond-buying — a program that is already dubbed […]

Japan’s Economic Growth Less Than Expected

TOKYO (UPI) — Japan’s economy in the latest quarter grew 0.2 percent from the previous quarter, or slower than the 0.3 percent estimated earlier, the government said Monday. The revised figure for the April-June period, blamed on slow capital spending by companies, reflected an annual growth rate of 0.7 percent, and not 1.4 percent as […]

CEO Touts Groupon’s Growth

CHICAGO (UPI) — Groupon Chief Executive Officer Andrew Mason said the U.S. Internet company’s growth should be the envy of the corporate world. “I think most companies would kill for those kinds of growth rates. We’re quite proud of them,” Mason said in an interview, referring to 45 percent growth year over year. Mason said […]

Putin: Russia To Double Grain Exports

VLADIVOSTOK, Russia (UPI) — Russian President Vladimir Putin said Friday the country had plans to double its grain exports by 2020. “We project that our country will be producing 120 million to 125 million tons of grain a year by 2020,” he said. That figure would “increase our export capacity to 30 million to 35 […]

Unemployment Rate 8.1 But Hiring Slowed

WASHINGTON (UPI) — The U.S. unemployment rate dropped to 8.1 percent in August, down 0.2  points, but a fewer-than-expected 96,000 jobs were added, the Labor Department reported. The statistics released Friday could have an effect on the presidential election, observers say. Before August, an average of more than 150,000 jobs were added each month. Economists […]

Settlement Approved In E-Book Pricing Case

NEW YORK (UPI) — A U.S. judge has approved a settlement with three major publishers over collusion in e-book pricing, setting the stage for a digital book price war. District Court Judge Denise L. Cote, the federal judge in Manhattan overseeing the case, rejected arguments against the settlement in a civil antitrust case brought by […]

Cosmo And J.C. Penney Throw In Together

NEW YORK, (UPI) –  Cosmopolitan magazine said Thursday it would launch a line of clothing and accessories at U.S. retailer J.C. Penney’s 600 stores. The Los Angeles Times reported that magazine known for merging sex tips and urban chic would partner up with the retailer to sell a line of shoes, handbags, sleepwear and lingerie. […]

U.S. Layoffs At 20-Month Low

CHICAGO,  (UPI) –  U.S. employers announced 32,239 layoffs in August, the lowest number since December 2010, a private outplacement firm said Thursday. Outplacement specialist Challenger, Gray & Christmas said announced job cuts dropped 12.5 percent from July’s total of 36,855. Job cuts also dropped 37 percent from August 2011, when 51,114 layoffs were announced. For […]

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