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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 […]

First-Time Jobless Claims Up By 6,000

WASHINGTON (UPI) — First-time jobless claims rose by 6,000 in the week ended Saturday, the U.S. Labor Department said. Initial claims for unemployment benefits rose to 386,000 from the previous week’s revised estimate of 380,000. The four-week rolling average, which gives a steadier indication of the direction of jobless claims rose by 3,500 to 382,000. […]

Consumer Prices Fell In May

WASHINGTON (UPI) — The Consumer Price Index dropped 0.3 percent in May from April on a seasonally adjusted basis, the U.S. Commerce Department said Wednesday. On a 12-month basis, the CPI for all items rose 1.7 percent before seasonal adjustment. The index for all items minus food and energy, called core prices, rose 0.2 percent. […]

Mortgage Rates Rise Up From Record Lows

WASHINGTON (UPI) — Average mortgage rates for 30-year, fixed-rate loans rose off record lows in the week ending Thursday, the Federal Home Loan Mortgage Corp. said. Average rates for 30-year contracts climbed from 3.67 percent to 3.71 percent with 0.7 points. Thirty-year mortgage rates averaged 4.5 percent the same week of 2011. Average rates on […]

Stay-At-Home Dads Have 52.9-Hour Work Week

WALTHAM, Mass., (UPI) — The average stay-at-home U.S. dad juggled a 52.9-hour work week and if paid for his top 10 jobs it would cost $61,814 a year, a salary Web site calculated. Salary.com surveyed more than 1,800 fathers this year to calculate dad’s earning power using its Dad Salary Wizard, an interactive tool allowing […]

Lunch With Warren Buffett: $3,456,789

NEW YORK, (UPI) — An anonymous bidder won lunch with billionaire investor Warren Buffett for a record $3,456,789, a charity that works to fight poverty said. Glide, a charity based in San Francisco, said 10 active bidders kept the price of lunch with Buffett rising during an eBay auction that began Sunday. There were more […]

Kodak Failing To Find 'Pre-Auction' Bid

ROCHESTER, N.Y., (UPI) — An opening bid for auction of bankrupt Eastman Kodak patents eluded the Rochester, N.Y., company, sources told The Wall Street Journal. Kodak is attempting to use an auction of its digital patent portfolio to help it emerge from bankruptcy court. But the firm has yet to find a so-called “stalking horse […]

Iran Points Out OPEC Quota Violators

TEHRAN, (UPI) — Iranian oil industry official Mohammad Ali Khatibi said hard times and over-production by three oil cartel members were responsible for falling oil prices. The production cap set by the Organization of Petroleum Exporting Countries is 30 million barrels per day, the Islamic Republic News Agency reported Saturday. But certain OPEC members were […]

'Manic Culture' Led To Credit Meltdown

LEICESTER, England, (UPI) — Bankers, economists and politicians shared a “manic culture” of denial and omnipotence 20 years before the 2008 financial collapse, a British researchers says. Professor Mark Stein of the University of Leicester School of Management said the Western financial world saw but did not heed warning signs from the collapse of the […]

U.S. Trade Deficit Narrows Slightly

WASHINGTON (UPI) — The U.S. trade deficit dropped slightly from March to April, from $2.5 billion to $50.1 billion, the U.S. Census Bureau said Friday. The trade gap declined for the second time in a six-month span as exports reached $182.9 billion and imports hit $233 billion. Imports, which declined, included a $2 billion scale-back […]

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