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Business


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 […]

First-Time Jobless Claims Rise By 8,000

WASHINGTON (UPI) — First-time jobless claims rose by 8,000 in the week ending Saturday, the U.S. Labor Department said. The weekly report issued Thursday said there were 365,000 initial claims in the week. The four-week rolling average was also 365,000, down by 2,750 from the previous week, the department reported. The largest increases in initial […]

Employers Slow Down Layoff Announcements

CHICAGO, Aug. 2 (UPI) — For the third time in the year, job cuts announced by U.S. firms in July were lower than the same month from the previous year, a research firm said. Outplacement specialist Challenger, Gray and Christmas said U.S. employers announced 36,855 layoffs in July, down from the 37,551 announced in June […]

Recession Sparks Entrepreneur Boom

Recession Sparks Entrepreneur Boom

President Barack Obama may have had the opportunity to point out a silver lining regarding the ongoing economic recession if it weren’t for his recent “you didn’t build that” remarks. High rates of unemployment resulting from the struggling economy have resulted in a surge in American entrepreneurship.

Women Make More Money As PA Than MD

NEW HAVEN, Conn. (UPI) — If women’s primary motivation is money, they should forget becoming a primary care physician and become a physician’s assistant instead, U.S. researchers say. Study authors M. Keith Chen and Judith Chevalier of the Yale School of Management used data from thousands of doctors and physician’s assistants — wages and hours […]

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