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Navistar CEO Steps Down

LISLE, Ill. (UPI) — U.S. truck and bus maker Navistar International Corp. said Monday  Chief Executive Officer Daniel Ustian is retiring, effective immediately. The company’s board appointed Lewis Campbell, former chairman, president and CEO of Textron Inc. to serve as Navistar’s executive chairman of the board and interim CEO. Campbell is currently on the board […]

Hertz To Buy Dollar Thrifty For $2.3 Billion

PARK RIDGE, N.J. (UPI) — Hertz Global Holdings has reached an agreement to purchase  Dollar Thrifty Automotive for $2.3 billion, officials of the car-rental companies said. Hertz, formerly owned by Ford Motor Co., said it would pay $87.50 per share for Dollar Thrifty, which was formerly owned by Chrysler. The deal took more than three […]

Best Buy Opens Door To Founder's Bids

MINNEAPOLIS (UPI) — The board of U.S. retail giant Best Buy said it had agreed to give founder Richard Schulze permission to pursue a bid to take control of the company. The board and Schulze had agreed on an orderly process for the former chairman to have access to company information and bid on the […]

A Kodak Moment Set To Fade Away

ROCHESTER, N.Y. (UPI) — Bankrupt camera pioneer Eastman Kodak in New York said it would sell its core film business units, including its film products and its processing kiosks. “We are reshaping Kodak,” Chairman and Chief Executive Antonio Perez said in a statement. The company filed for bankruptcy protection in January, as it has failed […]

Durable Goods Orders Up 4.2 Percent

WASHINGTON, N.Y. (UPI) — The Commerce Department said U.S. durable goods orders rose 4.2 percent in July, a much higher gain than economists’ expectations. After a seemingly healthy gain of 1.6 percent in June, economists forecast another 1.6 percent rise for July. New orders in June rose to $230.7 billion, pushed by a $9.9 billion […]

First-Time Jobless Benefit Claims Rise

WASHINGTON (UPI) — Initial unemployment benefits claims for last week were 372,000, an increase of 4,000 from the previous week, the U.S. Labor Department said Thursday. The four-week average was 368,000, up 3,750 from the previous week’s revised average of 364,250. The advance number of unadjusted actual first-time jobless benefits claims under state programs totaled […]

U.S. Manufacturing Slow But Picking Up

NEW YORK (UPI) — A flash estimate of U.S. business activity in the manufacturing sector indicated growth picked up the pace in August but not enough to hold a parade. The Purchasing Managers Index for U.S. manufacturing hit its lowest point in 19 months in July, which gives it a ways to go before breaking […]

Consumer Confidence Slips In Europe

BRUSSELS (UPI) — The European Commission said Thursday the flash estimate of consumer confidence fell in the European Union and the eurozone in August. The flash estimate for the 27 EU countries came to a reading of minus 22.6 from minus 20.2 in July. For the 17-member eurozone, the confidence indicator dropped from minus 21.5 […]

New Home Sales Rose In July

WASHINGTON (UPI) — Sales of new single-family homes rose 3.6 percent June to July, the U.S. Commerce Department said Thursday. Sales rose from a revised June rate of 359,000 to a seasonally adjusted annual rate of 372,000 in July. Sales also rose 25.3 percent above the annual rate of 297,000 from July 2011. The Commerce […]

Mortgage Rates Rise For Fourth Week

WASHINGTON (UPI) — Fixed mortgage rates on long-term loans in the United States rose for the fourth consecutive week, the Federal Home Loan Mortgage Corp. said Thursday. The higher rates, which suggest an increased demand for loans, are a potential sign of slowly growing vigor in the housing market. Gains in residential building permits issued […]

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