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Walmart Rethinks Plans For Overseas Growth

BENTONVILLE, Ark.,  (UPI) –  U.S. retail chain Walmart said it would put on the brakes on expansion plans for China, Brazil and Mexico. Speaking to growth in China and Brazil, “We still feel very positive about those two countries … It’s all about us right now,” Chief Financial Officer Charles Holley said. The Financial Times […]

Fannie, Freddie Stock Agreements Changed

WASHINGTON, (UPI) –  Preferred stock purchase agreements for Fannie Mae and Freddie Mac were changed to help expedite their wind down, the U.S. Treasury Department said. The modifications also will help ensure the money from the government-sponsored enterprises benefits taxpayers while ensuring access to mortgage credit, the department said Friday in a release. “With today’s […]

U.S. Leaning More On Saudi Oil

WASHINGTON,  (UPI) –  Sources of U.S. oil imports have shifted with the country relying increasingly on oil from Saudi Arabia, import figures show. While imports from Mexico and Venezuela have slowed and oil from the Gulf of Mexico has not reached early projections, imports from Saudi Arabia have risen 20 percent in 2012 compared with […]

Crude Oil Hovers Above $95

NEW YORK,  (UPI) –  Crude oil held steady just above $95 per barrel Friday morning on the New York Mercantile Exchange. The dollar index rose 0.32 percent on the International Exchange to 82.64. West Texas Intermediate crude oil for September delivery in New York shed 13 cents to $95.49 per barrel Thursday. The natural gas […]

Economic Outlook: Facing Facts At Facebook

There may be an interesting psychological study available in Menlo Park, Calif., this year — a study on disappointment — as Facebook employees watch the value of their company sink day by day. So soon after Facebook’s initial public offering in May, it remains vaguely forgivable that guesswork is involved when a chief executive officer […]

Industrial Production Rose In July

WASHINGTON (UPI) — Industrial production rose 0.6 percent in July after rising 0.1 percent in May and June, the U.S. Federal Reserve said Wednesday. Output in manufacturing, one of three industrial divisions, rose 0.5 percent, matching its increase in June. Output at U.S. mines increased 1.2 percent and output at utility firms rose 1.3 percent. […]

Builder Confidence Up For Four Months

WASHINGTON (UPI) — U.S. builder confidence rose for the fourth consecutive month in August, the National Association of Home Builders said Wednesday. “From the builder’s perspective, current sales conditions, sales prospects for the next six months and traffic of prospective buyers are all better than they have been in more than five years,” said Barry […]

CPI In July Remains Flat

WASHINGTON (UPI) — The Consumer Price Index was unchanged June to July, lowering the 12-month inflation figure to 1.4 percent, the U.S. Commerce Department said Wednesday. For the fourth consecutive month, prices consumers pay for day-to-day items were little changed. The annual inflation rate was 1.7 percent in May, but even that came down in […]

Eurozone Contracts, 2nd Recession Feared

LUXEMBOURG (UPI) — The eurozone slid toward a second recession in nearly four years as the economy contracted after stagnating the previous quarter, a European Union agency said. April-to-June gross domestic product for the 17 countries that use the euro fell 0.2 percent from the first quarter’s zero growth, the Eurostat statistics agency said. Compared […]

Wells Fargo Settles Case For $6.5 Million

NEW YORK (UPI) — U.S. regulators said Wells Fargo had agreed to a $6.5 million settlement to end a case against it alleging poorly managed toxic securities. The Securities and Exchange Commission said the bank and a broker had sold bundled securities in the early months of the bursting housing bubble that the bank simply […]

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