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Business


Spirit CEO Apologizes To Dying Veteran

MIRAMAR, Fla., (UPI) — A Vietnam veteran with cancer said the chief executive officer of Florida’s Spirit Airlines has apologized after refusing at first to give him a refund. CEO Ben Baldanza also issued a statement saying the airline’s refund policy is part of the reason the discount airline can keeps fares low, but failing […]

Ford Sheds Plant In ‘Win, Win, Win’ Deal

DETROIT (UPI) — Ford Motor Co. said it had agreed to sell French auto supplier Faurecia its Saline, Mich., parts business in a deal that will add jobs to the Detroit area. The deal involves three parties, Ford, Faurecia and Rush Group Ltd., the Detroit Free Press reported Thursday. Faurecia and Rush Group will form […]

Layoff Announcements Rose In April

CHICAGO (UPI) — U.S. employers announced a reduction of 40,559 jobs in April, a moderate increase from the 37,880 layoffs announced in March, a private research group said. Total job cuts announced for the month were up 7.1 percent from the previous month, outplacement consultancy Challenger, Gray & Christmas said Thursday. For the year to […]

Fixed-Rate Mortgages Hit Record Lows

WASHINGTON (UPI) — Average U.S. mortgage rates for long-term, fixed-rate contracts reached record lows in the week, the Federal Home Loan Mortgage Corp. said. In the week ending Thursday, average rates for 30-year contracts dropped from 3.88 percent with 0.7 points to 3.84 percent — a record low — with 0.8 points. Thirty-year mortgage rates […]

Unemployment Rate Dips To 8.1 Percent

WASHINGTON (UPI) — The U.S. economy added 115,000 jobs in April, dropping the unemployment rate to 8.1 percent, the Labor Department said Friday. Much of the decrease from 8.2 percent was due to large numbers of people dropping out of the workforce. The Labor Department said the private sector added 130,000 jobs but the number […]

Public Begins To Forgive Walmart

PALO ALTO, Calif. (UPI) — The public’s opinion of retailer Walmart is already correcting itself after a dip caused by a scandal involving alleged bribes in Mexico, YouGov reported. The New York Times broke the story in late April that Walmart’s massive expansion in Mexico last year was lubricated by bribes to public officials. The […]

First-Time Jobless Claims Drop By 27,000

WASHINGTON (UPI) — First-time jobless claims dropped by 27,000 in the week ended Saturday, with 365,000 initial claims filed, the U.S. Labor Department said The four-week rolling average, which provides a steadier assessment than the weekly figures that can be volatile, rose marginally, up by 750 to 383,500. The biggest increases in initial jobless claims […]

Labor Productivity Slid In First Quarter

WASHINGTON (UPI) — Labor productivity in non-farm businesses fell at a 0.5 percent annual rate during the first quarter of 2012, the U.S. Bureau of Labor Statistics said Thursday. From the first quarter of 2011 to the first quarter of this year, productivity increased 0.5 percent as hours worked rose 2.2 percent and output rose […]

Layoff Announcements Rose In April

CHICAGO (UPI) — U.S. employers announced a reduction of 40,559 jobs in April, a moderate increase from the 37,880 layoffs announced in March, a private research group said. Total job cuts announced for the month were up 7.1 percent from the previous month, outplacement consultancy Challenger, Gray & Christmas said Thursday. For the year to […]

Gallup’s Confidence Poll Steady In April

PRINCETON, N.J. (UPI) — A national poll on confidence in the U.S. economy was unchanged March to April, researchers at Gallup said Tuesday. The April survey put the Economic Confidence Index at minus 20, which sounds low, but is at the highest level since the firm began its daily tracking of consumer confidence at the […]

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