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Bernanke: Fed Never Influenced By Politics

WASHINGTON, (UPI) — Federal Reserve Chairman Ben Bernanke said the U.S. central bank is never swayed by political pressures and declared Europe needed its own version of the Fed. “It really helps an economy to have a strong and independent central bank,” Bernanke told public educators at the Fed town hall-style meeting in Washington and […]

Microsoft Tablet Worries Partner Companies

REDMOND, Wash., (UPI) — Taiwanese computer maker Acer is urging Microsoft to “think twice” about bringing out its Surface tablet computer in competition with its own partners. While Microsoft’s hopes to compete with the iPad and Android tablets on the market, the Surface will also be competing with similar devices from Microsoft’s own OEM hardware […]

eBay To Offer Same-Day Delivery

SAN FRANCISCO, (UPI) — U.S. online auction and sales site eBay says it is testing a system that will allow same-day shipping of goods purchased from local retailers. Although the service, called eBay Now, is still in beta testing, the company began sending invitations Sunday to eBay users in San Francisco that will allow them […]

Community Development Banks Receive Awards

WASHINGTON, (UPI) — The U.S. Treasury Department announced Monday more than $186 million in awards were made to 210 organizations serving low-income communities. The awards, provided through two programs, are the largest single announcement of award monies and recipients in the Community Development Financial Institutions Fund’s history, the Treasury Department said in a release. The […]

Best Buy Ex-CEO Proposes Acquisition Plan

MINNEAPOLIS, (UPI) — Richard Schulze, founder and former chairman of the Minnesota-based Best Buy Co., submitted a proposal Monday to acquire the electronics and appliance chain. In documents to the company’s board of directors, Schulze proposed buying all outstanding shares he doesn’t already own for a cash price of between $24 and $26 per share. […]

Businesses Delay Investments, Hires

WASHINGTON, (UPI) — U.S. manufacturers are delaying new investments and hiring, saying they fear the gridlock in Washington will yield tax hikes and budget cuts in January. Executives say the fiscal impasse has prompting them to ratchet back plans now, rather than wait for any resolution to the standoff among congressional Democrats and Republicans, The […]

Silver Manipulation Probe Likely To End

NEW YORK, (UPI) — A U.S. probe into possible manipulation of the silver market may be dropped due to lack of evidence, people familiar with the situation said. The Commodity Futures Trading Commission’s five commissioners haven’t yet formally determined the outcome of the investigation, leaving the possibility that staff could be instructed to dig deeper, […]

Mortgage Rates Mostly Higher In Week

WASHINGTON (UPI) — Fixed mortgage rates on long-term loans in the United States rose off of record lows in the week ending Thursday, the Federal Home Loan Mortgage Corp. said. The average 30-year fixed mortgage, which has been below 4 percent for every week but one in 2012, rose from 3.49 percent to 3.55 percent […]

Three Fined For Airfare Ad Violations

WASHINGTON (UPI) — The U.S. Department of Transportation slapped three companies with fines for violations of airline fare advertising rules, the department said Thursday. Rules adopted in January mandate companies clearly display fares in full, including surcharges, taxes and fees, so that hidden costs are not later sprung on unsuspecting consumers. The department said Philippine […]

Durable Goods Orders Up, Non-Durable Down

WASHINGTON (UPI) — U.S. factory orders for non-durable goods fell in June, while durable goods orders picked up, the U.S. Census Bureau reported Thursday. Overall, new orders fell 0.5 percent, following a downwardly revised 0.5 percent rise in May, the bureau said. Overall, new orders dropped by $2.1 billion to $465.8 billion. But new orders […]


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