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U.S. Household Net Worth Falling Sharply

WASHINGTON (UPI) — Falling stock markets and home values contributed to a 35 percent drop in the U.S. median household net worth from 2005 to 2010, the Census Bureau said Monday. The net worth is the value of a household’s assets minus its debts. The median value for a group is the point halfway between […]

Mexico Invited To Join TPP Trade Group

WASHINGTON (UPI) — U.S. trade officials said Monday Mexico would be invited to join the Trans-Pacific Partnership free-trade alliance. “We are delighted to invite Mexico, our neighbor and second-largest export market, to join the TPP negotiations,” U.S. Trade Representative Ron Kirk said. “Mexico’s interest in the TPP reflects its recognition that the TPP presents the […]

GM Re-Focuses Design Teams

WARREN, Mich. (UPI) — U.S. automaker General Motors said Monday it would revamp and re-focus its design teams to connect with their customers. In a move that affects the company’s 10 Design Centers around the world, GM said, focusing on brands would “drive stronger — and common — messaging across a brand’s portfolio.” It would […]

EU Posted Trade Deficit In April

BRUSSELS (UPI) — The 27-member European Union posted a $15.1 billion deficit on trade in goods in April, Eurostat said Friday. The deficit was down from the $21.7 billion trade gap in April 2011. While the larger EU had a loss, the 17-member eurozone, countries that share the euro as currency, posted a surplus of […]

U.S. Industrial Production Slid Slightly

WASHINGTON (UPI) — Industrial production slipped in May after rising 1 percent in April, the U.S. Federal Reserve said Friday. Industrial production “edged down,” the Fed said, dropping 0.1 percent. Output in manufacturing, one of three industrial divisions, shrank 0.4 percent following an increase in April. Production at mines rose 0.9 percent in May and […]

Immigrants Run 18 Percent Of Small Firms

NEW YORK (UPI) — Almost one-fifth of U.S. small business owners are immigrants, a Fiscal Policy Institute study found. The Institute’s Immigration Research Initiative said immigrants make up 13 percent of the U.S. population, 16 percent of the labor force and 18 percent of small business owners. The study released Friday found “a big change […]

Gupta Found Guilty Of Insider Trading

NEW YORK (UPI) — A federal jury in New York convicted former Goldman Sachs Group and Procter & Gamble director Rajat Gupta on insider trading charges Friday. Gupta, 63, is arguably the most prominent businessman convicted in the insider trading case that produced an 11-year sentence for convicted billionaire Raj Rajaratnam, the founder of the […]

Poll: Economists See Recovery Slowing Down

NEW YORK (UPI) — A survey of economists found diminished belief in the U.S. recovery, The Wall Street Journal reported Friday. The survey conducted by the Journal found 39 out of 53 respondents indicated their own forecasts were too optimistic. Only four indicted their predictions were not rosy enough, the survey said. For the first […]

Hard Times Rough For Dads

CHICAGO (UPI) — Hard economic times are prompting changes at home, as well as changes at work, for U.S. fathers, an annual Father’s Day survey found. In a survey of 729 full-time working dads taken Feb. 9 through March 2, two out of five fathers, 43 percent, indicated they took no paternity leave on behalf […]

Foreclosure Decline Hits A Glitch

IRVINE, Calif. (UPI) — The decline in U.S. foreclosures looks like a “bumpy ride,” the top executive at online marketplace RealtyTrac said. With foreclosures in May up 9 percent from April, but down 4 percent from May 2011, “It’s going to be a bumpy ride down to the bottom of this foreclosure cycle,” said Brandon […]

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