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Retailers See Online As Sink Or Swim

NEW YORK (UPI) — Major U.S. retail chains say they have no choice but to compete with purely online stores, and they are figuring out how to do it. “We are living in the age of the customer, and you can either fight these trends that are happening — show-rooming is one — or you […]

Romney Snorts At 8.2 Percent Unemployment

WASHINGTON (UPI) — Former Massachusetts Gov. Mitt Romney seized on a stagnant economy Friday, after the Labor Department said the unemployment rate was stuck at 8.2 percent. While vacationing in Wolfeboro, N.H., Romney, the presumptive Republican nominee for president, said 8.2 percent was “unacceptably high and one that’s been in place now for over 41 […]

Best Buy Lays Off 2,400 Employees

RICHFIELD, Minn. (UPI) — Electronics chain Best Buy, based in Richfield, Minn., announced Friday it was laying off 2,400 employees companywide as part of its restructuring plan. Layoffs affect 1,800 store employees and 600 members of its Geek Squad customer service division, The St. Paul Pioneer Press reported. “These changes were previously announced as part […]

June Adds 176,000 Private Jobs

‎ROSELAND, N.J. (UPI) — Payroll firm Automatic Data Processing Inc. said the U.S. economy added 176,000 private sector jobs in June, which exceeded expectations. Economists had forecast an additional 105,000 jobs would be created in the month. ADP also said 136,000 private sector jobs were added to the economy in May, a slightly higher revision […]

Jobless Claims Drop By 14,000

WASHINGTON (UPI) — First-time jobless claims fell by 14,000 in the week ended Saturday, the U.S. Labor Department said. Initial claims for unemployment benefits fell to 374,000 from the previous week’s revised estimate of 388,000. The four-week rolling average, which gives a steadier indication of the direction of jobless claims, was little changed, dropping by […]

Job Cuts Slide In June

CHICAGO (UPI) — Job cut announcements made by U.S. employers in June fell to the lowest number in more than a year, a private research firm said Thursday. Challenger, Gray & Christmas said employers announced 37,551 job cuts in the month of June. While that was only slightly lower than the March figure of 37,880, […]

Mortgage Rate Lows Getting A Bit Routine

WASHINGTON (UPI) — New lows for 30-year fixed-rate mortgage loan interest rates have become a bit routine, the Federal Home Loan Mortgage Corp. said Thursday. Average rates for 30-year contracts have dropped to a new low in 10 of the past 11 weeks, the mortgage brokerage bank said. In the week ending Thursday, 30-year, fixed-rate […]

US Airways CEO: No Need To Rush A Merger

FORT WORTH, Texas (UPI) — US Airways Chief Executive Officer Doug Parker said the company could bide its time in its bid to merge with bankrupt U.S. rival American Airlines. “So long as we are given a fair chance to present our superior alternative in time to merge with AMR upon their emergence from bankruptcy,” […]

Markets Post Early Gains

NEW YORK, (UPI) — U.S. stock indexes headed higher Tuesday morning, a day before the Independence Day holiday. The Commerce Department gave confidence a boost, reporting factory orders rose 0.7 percent in May over April. Economists had expected a far more meager gain of 0.2 percent. In midmorning trading, the Dow Jones industrial average added […]

A Withering, But Patriotic Slump

CHICAGO, (UPI) — Hump day might turn into slump day this week, a Chicago outplacement firm said. Having the Fourth of July fall on a Wednesday, sometimes referred to as hump day, means many workers will take an extra two days off this week, Challenger, Gray & Christmas said Monday. “The mid-week Independence Day holiday […]


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