Business
China's August Trade Surplus Dips To $17.8 Billion
BEIJING, Sept. 12 (UPI) — China’s trade surplus in August shrank to $17.75 billion from July’s $31.5 billion, largely because of higher imports, the government said. The July surplus, however, was the highest in 2 1/2 years despite the global economic doldrums, China Daily reported. The government said while slowing global demand is pinching China’s […]
McGraw-Hill To Split Itself In Two
NEW YORK, Sept. 12 (UPI) — New York publishing giant McGraw-Hill said Monday it would split into two independent companies — one focused on markets and the other on education. McGraw-Hill, which divested itself of broadcasting assets this summer, said one company would operate Standard & Poor’s — both the index and the credit rating […]
Bank Of America To Cut Costs By $5 Billion
NEW YORK, Sept. 12 (UPI) — Bank of America Chief Executive Officer Brian Moynihan said Monday the bank, largest in the United States, would trim annual costs by $5 billion. Moynihan, speaking at an investors’ conference, said the bank would trade size for value, The New York Times reported. “We do not have to be […]
U.S. Trade Deficit Shrinks
WASHINGTON, Sept. 8 (UPI) — U.S. international trade shifted from a revised $51.6 billion deficit in June, to $44.8 billion in July, the U.S. Census Bureau said Thursday. For July, exports rose $6.2 billion to $178 billion, while imports fell $.5 billion to $222.8 billion. Exports of goods rose $5.7 billion to $126.9 billion in […]
Jobless Claims Rise By 2,000
WASHINGTON, Sept. 8 (UPI) — First-time jobless benefit claims rose by 2,000 in the week ending Saturday with 414,000 claims filed, the U.S. Labor Department said. The four-week rolling average for claims filed was 414,750, up 3,750 from the previous revised average, the department said Thursday. In August, the unemployment rate was 9.1 percent, unchanged […]
Mortgage Activity Down In Week
WASHINGTON, Sept. 8 (UPI) — The Mortgage Bankers Association says U.S. mortgage activity fell in the week ended Friday with mortgage rates also falling. Interest rates for 30-year, fixed-rate mortgages fell from 4.32 percent to 4.23 percent with points falling from 1.29 to 1.04. Rates for 15-year, fixed-rate contracts fell from 3.49 percent to 3.41 […]
FBI Raids Bankrupt Solar Company Near San Francisco
FREMONT, Calif., Sept. 8 (UPI) — The FBI declined to say what its agents were looking for Thursday when they searched offices of a bankrupt solar-panel company in the San Francisco Bay Area. A squad of agents armed with a search warrant and accompanied by agents from the Department of Energy showed up at the […]
SEC Halts Record Purging
WASHINGTON, Sept. 8 (UPI) — The Securities and Exchange Commission general counsel Mark Cahn has told SEC staff to stop destroying case records following accusations of illegal purging. Cahn sent a memo to staff informing them of the new policy in the wake of an accusation the SEC was illegally destroying records that could point […]
Top Office Turnover Steady In August
CHICAGO, Sept. 7 (UPI) — The total number of U.S. top corporate executive departures held steady in August, one celebrity notwithstanding, a private research group said Wednesday. In August, 104 chief executive officers left their jobs, either through resignation, job change, firing or job title elimination, consulting firm Challenger, Gray & Christmas said. The number […]
German Court OKs Help For Greece
BERLIN, Sept. 7 (UPI) — A constitutional court in Germany said it is legal for the country to participate in the international bailout efforts for other eurozone countries. The Federal Constitutional Court also said Germany’s Parliament at the committee level should be allowed more say in how bailouts are structured, The Wall Street Journal reported […]
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