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Britain Hangs On To AAA Credit Rating

LONDON (UPI) — Standard and Poor’s said it was maintaining Great Britain’s AAA credit rating in anticipation of an economic upswing. The ratings agency said that while the British economy had dipped into a recession earlier this year, the second half was looking better due to progress in controlling the national debt. “The stable outlook […]

Britain Begins Formal Libor Review

LONDON (UPI) — One of Britain’s top banking regulators said the process of setting the London interbank offered rate or Libor was under review. “It is clear that urgent reform of the Libor compilation process is required,” said Martin Wheatley, managing director of the Financial Services Authority. “Such reform may include amendments to the technical […]

Anti-Fracking Rally Targets Washington

WASHINGTON (UPI) — Anti-fracking protesters joined ranks for a march and rally in Washington, ending at the U.S. Capitol, calling their movement a “Stop the Frack Attack.” “I got involved in the rally because I feel very passionately that fracking is a risk to West Virginia, said Fiona Druge, one of the rally’s organizers, WBOY.com […]

Foreclosures Rise In First Half Of 2012

IRVINE, Calif. (UPI) — Foreclosure activity rose in nearly 60 percent of the U.S. metropolitan areas in the first half of the year, a private online marketplace said. RealtyTrac, which monitors foreclosure activity, said 125 metropolitan areas of 212 tracked saw an increase in foreclosure activity January through June. The firm tracks market activity in […]

First-Time Jobless Claims Down By 35,000

WASHINGTON (UPI) — First-time jobless claims fell by 35,000 in the week ending Saturday, almost erasing the 36,000 increase from the previous week, the U.S. Labor Department said. The weekly report issued Thursday said last week’s total for first-time unemployment benefit claims was 388,000, not 386,00 as previously reported. For the current week, claims fell […]

Pending Home Sales Reinforce A Trend

WASHINGTON (UPI) — A leading index for the U.S. housing market, the Pending Home Sales Index, mirrored a market trend, dropping May to June, but rising from a year earlier. The National Association of Realtors said the index on contracts of intention — the legal limbo between paying a down payment and closing on a […]

30-Year Mortgage Rates Hit Record Lows

WASHINGTON (UPI) — Fixed mortgage rates on long-term loans in the United States hit record lows again in the week ending Thursday, the Federal Home Loan Mortgage Corp. said. The average 30-year fixed mortgage has been below 4 percent for every week but one in 2012, Freddie Mac said, as interest rates for 30-year, fixed-rate […]

New Home Sales Dropped In June

WASHINGTON (UPI) — Sales of new single-family homes declined month-to-month in June, but rose 15.1 percent from June 2011, the U.S. Commerce Department said Wednesday. Sales fell from a revised May rate of 382,000 to a seasonally adjusted annual rate of 350,000 in June. The 8.4 percent monthly drop still left sales of new homes […]

Nike Leans Harder On Vietnam For Shoes

BEAVERTON, Ore. (UPI) — U.S. sportswear firm Nike Inc. said in a regulatory filing it is relying a bit more on Vietnam as a manufacturing base. Nike said 41 percent of its footwear is now made in Vietnam, with 32 percent made in China and 25 percent in Indonesia. For its 2012 fiscal year, Nike […]

Diller Says Newsweek Is Going To Change

WASHINGTON (UPI) — A co-owner of the iconic weekly U.S. magazine Newsweek said that it would transition further toward an all-digital production by 2013. “The brand is good. So what is the problem? The problem is in manufacturing and producing a weekly news magazine, and that has to be solved,” said Barry Diller, owner of […]

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