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Builder Confidence Makes Gains In July

WASHINGTON (UPI) — U.S. builder confidence in July gives rise to hopes that home construction would contribute to an economic recovery, a trade agency economist said. “Combined with the upward movement we’ve seen in other key housing indicators over the past six months, this report adds to the growing acknowledgement that housing … is returning […]

EU Trade Gap Shrunk In May

BRUSSELS, July 16 (UPI) — The 27-member European Union posted a $4.6 billion deficit on trade in goods in May, a sharp decline from April, Eurostat said Monday. In the prior month, the deficit stood at $15.4 billion. A year earlier in May, the deficit stood at $17.7 billion. While the larger EU had a […]

Retail Slipped 0.2 Percent In June

WASHINGTON (UPI) — Retail sales dropped for the second consecutive month in June, the U.S. Census Bureau said Wednesday. After a 0.2 percent drop from April to May, retail and food service sales for June fell 0.5 percent to $401.5 billion. Sales for the month came to a 3.8 percent increase from June 2011. For […]

U.S. Business Inventories Up, Sales Down

WASHINGTON (UPI) — U.S. business inventories rose while sales fell in May, the Commerce Department reported Monday. Sales dropped 0.1 percent to a seasonally adjusted $1.245 trillion. They were up 5.1 percent from May 2011. Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of […]

Former Barclays Officer Blames Regulators

LONDON (UPI) — Barclays’ former chief operating officer told a British government panel Libor manipulation began with a request from bank regulators. “I expected that the Bank of England’s views would be incorporated into our Libor submissions. The views would have resulted in lower submissions,” former executive Jerry del Missier told a parliamentary hearing Monday. […]

CFPB To Monitor Credit Report Firms

WASHINGTON (UPI) — The U.S. Consumer Financial Protection Bureau said Monday it would oversee credit reporting companies, putting them under federal oversight for the first time. “Credit reporting is at the heart of our lending systems and enables many of us to get credit, afford a home or get an education,” said agency director Richard […]

Angry Birds Creator Unveils New Game

ESPOO, Finland (UPI) — The Finnish company behind the popular Angry Birds game has released its new offering, Amazing Alex, in hopes of creating another games franchise, analysts say. The physics-based game released Thursday — in which players manipulate objects to bounce, jump, ricochet, fall and collide with each other to achieve a goal — […]

Producer Prices Up 0.1 Percent In June

WASHINGTON (UPI) — Producer prices for finished goods increased 0.1 percent in June, the U.S. Labor Department said Friday. A report by the U.S. Bureau of Labor Statistics said the increase was led by the index for finished goods. Prices for consumer foods rose 0.5 percent while the index for energy goods declined 0.9 percent. […]

Forecasters Seeing Signs Of Economic Life

WASHINGTON (UPI) — U.S. economic forecasters say lower oil prices and gains in the automotive and housing sectors offer signs the economy will improve slightly in coming months. The New York Times said Friday economists expect growth to pick up over the next few months although the pace will remain sluggish. The consulting group Macroeconomic […]

JPMorgan Chase Boosts Loss Estimate

NEW YORK (UPI) — JPMorgan Chase says losses from a massive trading blunder in the bank’s London have reached $5.8 billion and could go as high as $7 billion. The bank Friday said it will be forced to restate its first-quarter results after it was discovered traders may have been trying to hide the losses […]


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