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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 […]

Walmart Rejects Swipe Fees Settlement

BENTONVILLE, Ark. (UPI) — Walmart said Wednesday it will join other U.S. retailers in rejecting a class action settlement against credit card firms for allegedly colluding on swipe fees. The multibillion dollar-settlement included a $6.6 billion payment, plus a temporary reduction in interchange fees, a gesture valued at about $1.2 billion, The Wall Street Journal […]

Book Industry Decries Loss Of Agency Sales

WASHINGTON (UPI) — Booksellers are criticizing a proposed settlement between the U.S. Justice Department and Apple and six publishers meant to end a collusive pricing agreement. In a report detailing the public response to the proposed agreement, the Justice Department said firms like Barnes & Noble, Books-A-Million, the American Booksellers Association and the Authors Guild […]

Airlines Making More Money From Fees

LOS ANGELES (UPI) — Fifty airlines that report revenue from fees for checked bags, more legroom and changed reservations made more than $22 billion last year, a U.S. study found. The review was done by IdeaWorks Company, based in Wisconsin, along with Amadeus, a travel company based in Madrid, the Los Angeles Times reported. Analysts […]

Manufacturing Expansion Slowed In July

NEW YORK (UPI) — A flash estimate of U.S. business activity in the manufacturing sector showed growth at its weakest level in 19 months in July, Markit Research said. The research firm’s purchasing managers’ index, based on 85 percent of the month’s survey results, showed the headline index falling from 52.5 in June to 51.8, […]

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