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Consumer Confidence Drops In July In EU

BRUSSELS (UPI) — The European Commission said Monday the flash estimate of consumer confidence in the European Union fell in the EU and the eurozone in July. The flash estimate is based on a survey of consumers from 24 of the 27 EU countries, covering 98.8 percent of the region’s consumer spending. For the eurozone, […]

High Fashion Gains A Foothold In China

BEIJING (UPI) — A growing middle class in China is supporting demand for fashion, even expensive fashion, media experts said. The general manager of Hearst Magazines in China, Lena Yang, said the average fashion magazine reader in the country is 29.5 years old, single, and earns $1,431 per month. Surprisingly to some, that same reader […]

Caterpillar Hard-Nosed Through Strike

JOLIET, Ill. (UPI) — Record profits have not altered Caterpillar’s reputation as an intractable, hard-ball opponent in U.S. labor disputes, experts said. “Caterpillar has been a leader in the past 20 years in taking a hard line,” The New York Times quoted Cornell University professor of industrial relations Richard Hurd as saying Monday. Despite a […]

Female Flirtation Is A Plus In Negotiation

BERKELEY, Calif. (UPI) — Using flirtation during a negotiation appears to create better economic outcomes for female negotiators, a U.S. researcher found. However, study leader Laura Kray of the University of California, Berkeley, Haas School of Management, said female negotiators only had an advantage if the flirtatiousness was perceived as above and beyond friendliness. The […]

No Love For Extending Payroll Tax Holiday

WASHINGTON (UPI) — A consensus is forming in the Democratic caucus of the U.S. Senate that the payroll tax holiday should not be extended for one more year, aides said. Job creation has dropped to less than 100,000 new jobs per month for the past three months and Democrats have expressed concern about Social Security, […]

IMF Official Leaves In A Huff

WASHINGTON, July 20 (UPI) — Long-term International Monetary Fund official Peter Doyle said he was ashamed of the organization’s reaction to the financial crisis in Europe. After twenty years of service, I am ashamed to have had any association with the fund at all,” wrote Doyle announcing his resignation in a letter addressed to Shakour […]

Viacom, DirecTv Reach Seven-Year Deal

NEW YORK (UPI) — Viacom Inc. and DirecTV Group Inc. said they had reached a seven-year deal that restores Comedy Central, Nickelodeon and other channels for U.S. viewers. The two companies had taken their pricing disagreements public with DirecTV saying Viacom was demanding a 30 percent increase in fees, which would have showed up in […]

Finance Markets Pessimistic About Spain

MADRID (UPI) — Eurozone finance ministers agreed Friday to provide as much as $122.6 billion to shore up the Spanish banking system, officials said. But interest rates on Spanish debt continued to rise, suggesting financial markets are pessimistic about the country’s future, the Financial Times reported. The 17 ministers took the vote by conference call. […]

Jobless Claims Rise By 34,000

WASHINGTON, July 19 (UPI) — First-time jobless claims rose by 34,000 in the week ended Saturday after three weeks of declines, the U.S. Labor Department said. Initial claims for unemployment benefits rose to 386,000 from the previous week’s revised estimate of 352,000. In the previous three weeks, claims had fallen by 2,000, 6,000 and 14,000, […]

Leading Indicators Slipped In June

NEW YORK (UPI) — The U.S. index of leading economic indicators fell 0.3 percent in June to 95.6, the Conference Board said Thursday. The Leading Economic Index has gained in seven of the last nine months, but dropped in two of the past three. It rose 0.4 percent in May and fell 0.1 percent in […]

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