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Spending In March Up Modestly

WASHINGTON (UPI) — Consumer spending rose 0.3 percent in March, down from February’s 0.8 percent, the U.S. Commerce Department said Monday. Spending was up by $29.6 billion in March. Personal incomes rose by $50.3 billion or 0.4 percent. Disposable incomes rose by 0.4 percent, $42.5 billion, the agency said. Personal savings as a percentage of […]

Bribery Scandal Turns Up Anti-Walmart Heat

BENTONVILLE, Ark. (UPI) — U.S. retail giant Walmart said the firm would stick with expansion plans despite recent allegations of bribes in Mexico meant to speed up expansion there. Despite investigations into the company’s behavior in Mexico, “We remain committed to opening stores all across the United States, including large cities,” said Steven Restivo, a […]

Scandals Impacting News Corp. Expansion

NEW YORK (UPI) — Scandals at News Corp. have likely derailed the firm’s efforts to expand in Britain and Turkey, The New York Times reported Monday. News Corp.’s attempt to buy the remaining 60 percent of British Sky Broadcasting that it doesn’t own has been at least disrupted by an e-mail that shows the possibility […]

GM Cries Poor On CEO Pay

DETROIT (UPI) — General Motors, 32 percent owned by U.S. taxpayers, has implored the government to allow it to raise pay levels for top-level executives. “Appropriately recognizing and rewarding these key contributors and competing with other large, multinational employers to attract and retain fresh talent with critical skill sets is extremely difficult,” GM said in […]

Goldman Sachs In Insider Info Probe

NEW YORK (UPI) — U.S. investigators are looking into whether a Goldman Sachs Group executive tipped Galleon Group on pending deals, The Wall Street Journal reported Thursday. Citing people it said were familiar with the matter, the newspaper said federal prosecutors and the Securities and Exchange Commission are looking into whether Matthew Korenberg provided advance […]

U.S. Firms Doing Much Hiring — Overseas

NEW YORK (UPI) — U.S. corporations, reluctant to add workers in the United States, are doing the bulk of their hiring overseas, statistics show. A study of 35 U.S. multinational firms showed that 75 percent of their hiring in the past 24 months has been in other countries. Between 2009 and 2011, 60 percent of […]

Report: Lehman Execs Had Huge Pay Deals

NEW YORK (UPI) — The largest bankruptcy in U.S. history was preceded by the handing out of what could be unprecedentedly high paychecks, court documents show. The collapse of Lehman Brothers in 2008, which became a symbol of the financial failings of the era, was preceded by paychecks totaling $700 million to just 50 of […]

GDP Up 2.2 Percent January Through March

WASHINGTON (UPI) — The U.S. gross domestic product rose by about 2.2 percent on an annual basis in the first three months of 2012, the Commerce Department said Friday. The figure is considered and advanced estimate, with numbers that will firm up in the next two months as more data become available. The advanced figure […]

Foreclosures Up In Half Of U.S. Cities

IRVINE, Calif. (UPI) — Roughly half of 212 U.S. cities tracked by market researchers saw foreclosure activity rise in the first quarter of 2012, a private firm said. RealtyTrac, an online marketplace for foreclosure properties, said 114 of 212 cities with populations above 200,000 experienced increased foreclosure activity January through March. In larger cities, the […]

First-Time Jobless Claims Virtually Still

WASHINGTON (UPI) — The U.S. Labor Department said first-time jobless claims dropped by 1,000 in the week ended Saturday with 388,000 initial claims filed. It was the second consecutive week gains were marginal. In the previous weekly report, the department said 2,000 fewer first-time claims were filed. To put it into perspective, the gains are […]

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