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Walmart Sanctioned For Unpaid Overtime

WASHINGTON (UPI) — Walmart shorted 4,500 employees on overtime pay by wrongly classifying them as exempt from wage and hour laws, the U.S. Labor Department said Tuesday. The government ordered the company to pay $4.8 million in back pay and damages and a $464,000 fine, The Washington Post reported. The ruling affects vision center managers, […]

For A Week, Shoppers Take A Break

WASHINGTON (UPI) — U.S. retail sales dipped modestly in the week ending Saturday with an increase in consumers taking a break from shopping, a trade group said. The International Council of Shopping Centers said sales fell 0.3 percent compared to the previous week, but rose 4.2 percent compared to the same week of 2011. The […]

Weekly Mortgage Volume Rises Marginally

WASHINGTON (UPI) — The Mortgage Bankers Association said U.S. mortgage activity rose marginally in the week ending Friday with interest rates mixed. Mortgage activity rose 0.1 percent in the week. The trade group’s Refinancing Index also rose 0.7 percent from the previous week, the MBA said. Interest rates for 30-year, fixed-rate conforming mortgages rose from […]

Factory Orders Slid In March

WASHINGTON (UPI) — U.S. factory orders dropped 1.5 percent from February to March, but held up with transportation orders excluded, the U.S. Census Bureau reported Wednesday. Factory orders fell by $7.1 billion to $460.6 billion, dropping slightly less than the 1.6 percent drop economists had predicted. Excluding transportation, new orders rose slightly, as orders for […]

Nation’s Homeownership Rates Down

WASHINGTON (UPI) — The U.S. Census Bureau said homeownership has fallen to 65.4 percent, the lowest rate since 1997. The percentage of homeowners in the first quarter fell 1 percentage point from the same period of 2011. Concurrently, vacancy rates for rental properties fell from 9.7 percent in the first quarter of 2011 to 8.8 […]

Car Consumers Return To Stick Shift

DETROIT (UPI) — Demand for manual transmissions among U.S. drivers is on the rise, an industry research group said. Ironically, just as automakers figured U.S. drivers were not interested in manual transmissions, the demand for stick shifts has returned, researchers at Edmunds.com said. The so-called take rate for manual transmissions was 6.5 percent in the […]

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 […]

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