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Mortgage Activity Climbs Slightly

WASHINGTON (UPI) — The Mortgage Bankers Association said U.S. mortgage activity rose marginally in the week ended Friday with interest rates inching lower. Mortgage activity rose 1.7 percent in the week, following a marginal 0.1 percent increase in the previous week. The trade group’s Refinancing Index also rose minimally, up 1.3 percent after a rise […]

23 Percent Of U.S. Families Have No Savings

ANN ARBOR, Mich. (UPI) — The proportion of U.S. families with no savings or other liquid assets rose to 23.4 percent in 2011, up from 18.5 percent in 2009, researchers say. Study authors Frank Stafford, Bing Chen and Robert Schoeni of the University of Michigan Institute for Social Research said about 1-in-5 U.S. households owe […]

Toyota Predicts A Comeback

TOYOTA CITY, Japan (UPI) — Japanese automaker Toyota Motor Corp. said 2012 would be a year of recovery, projecting profits of $9.5 billion through March 2013. Toyota has been battered in recent years. Formerly the world’s largest automaker by vehicle sales, it earned $21.5 billion in profits in 2008, The New York Times reported Wednesday. […]

In April, 3 CEOs Per Day Left Their Jobs

CHICAGO (UPI) — Ninety chief executive officers left their jobs in April, including one who jumped ship in about two days, a research group from Chicago said. Outplacement consulting firm Challenger, Gray & Christmas said as a rule, the majority of chief executives “cite ‘resignation’ as the reason for departure. Last month, 24 CEOs ‘resigned,’ […]

Third Point’s Loeb Adds To Yahoo ‘Resumegate’ Heat

SANTA MONICA, Calif. (UPI) — Activist investor Daniel Loeb, founder of hedge fund Third Point, said U.S. search engine firm Yahoo! Inc., had been “left to flounder” under flawed leadership. Loeb said he “took no joy in witnessing this carnage,” referring to the controversy over Yahoo! Chief Executive Officer Scott Thompson’s padded company biography, which […]

Air Canada Sued For Plane’s Plunge

TORONTO, (UPI) — Passengers injured when a co-pilot dozed, and then put a jetliner into a dive when he awoke, are suing Air Canada for $20 million, plaintiffs attorneys said. A Toronto law firm brought the lawsuit Monday, seeking class-action certification on behalf of 95 passengers injured when they were jolted while on Flight AC878 […]

Chrysler Recalls 119,000 Vehicles

AUBURN HILLS, Mich., (UPI) — U.S. automaker Chrysler Group said it is recalling 119,000 vehicles due to fuses that can overheat, which could cause brake problems. The recall involves 2011 and 2012 Chrysler 200 and Dodge Chargers. The fuse that could overheat is associated with the computer controller that operates electronic stability control systems and […]

U.S. Crops Outpace Long-Term Averages

WASHINGTON, (UPI) — U.S. farmers report 53 percent of corn acreage has been planted against a five-year average of 27 percent by this week of the year. Farmers report 15 percent of the crop has emerged, putting that ahead of the five-year average of 6 percent by this week of the year, the U.S. Department […]

Treasury To Put $5B Of AIG Stock On Market

WASHINGTON, (UPI) — The U.S. Treasury said it would put shares of American International Group on the market for $30.50 per share — a $5 billion sale. On Monday morning AIG shares were listed at $31.42 per share. Treasury officials said 63,934,426 common shares would be sold. The treasury, which invested $182 billion in bailout […]

Shareholders’ CEO Pay Complaints Welcomed

LONDON, (UPI) — British Business Secretary Vince Cable said he welcomed shareholder challenges to excessive pay for company executives. Cable said shareholders taking responsibility for communicating their opinions on pay to company board members was “exactly the way to deal with this issue.” Shareholders in Britain are poised to challenge excessive executive pay at a […]

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