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Economic Outlook: Economy Warming Up

Occasionally, Mother Nature gives the economy a boost. Throughout the winter, in weekly report after weekly report, the International Council of Shopping Centers took note of the unseasonably warm winter that was not just warmer than last year, it was often hugely warmer than last year. Frequently, temperatures were noted as “unseen in the past […]

Mortgage Rates Drop Slightly In Week

WASHINGTON, (UPI) –  Average long-term U.S. mortgage rates held under 4 percent in the week ending Thursday, the Federal Home Loan Mortgage Corp. said. Rates for 30-year contracts have held under 4 percent for two consecutive weeks, falling this week from 3.99 percent to 3.98 percent with 0.7 point. Thirty-year mortgage rates averaged 4.87 percent […]

Court Extends Viacom’s YouTube Suit

NEW YORK, (UPI) –  A U.S. appeals court said Viacom Inc.’s lawsuit filed in 2007 against YouTube for copyright infringement may have some merit after all. The 2nd Circuit Court of Appeals kept the lawsuit going by sending it back to a federal district court to resolve the question of whether or not YouTube, owned […]

McDonald’s Applauds Lawsuit Dismissal

SAN FRANCISCO, (UPI) –  McDonald’s Corp. hailed a court decision in California that allows the fast-food giant to continue providing toys with its “Happy Meals.” “We stand on our 30-year track record of providing a fun experience for kids and families at McDonald’s,” said company spokeswoman Danya Proud after a judge in San Francisco dismissed […]

Detroit Agrees To Fiscal Power Sharing

DETROIT, (UPI) –  The Detroit City Council has approved a power-sharing agreement on fiscal matters with the state, as officials struggle to keep the city solvent. City officials voted 5-4 to approve a consent agreement that Deputy Mayor Kirk Lewis said keeps the decision-making power on finances in the city’s hands. However, the state is […]

Initial Jobless Claims Drop By 6,000

WASHINGTON, (UPI) –  The U.S. Labor Department said first-time jobless claims fell by 6,000 in the week ended Saturday to 357,000, pulling the four-week average down to 361,750. The four-week rolling average decreased by 4,250 from the previous week’s revised average of 366,000. The previous week’s figure on first-time benefit claims was also revised to […]

ADP Says March Added 209,000 Jobs

ROSELAND, N.J., (UPI) — Payroll firm Automatic Data Processing Inc. said the U.S. economy added 209,000 private sector jobs in March, about 6,000 more than economists expected. ADP also said February’s gain was higher than previously published. The firm said 230,000 jobs were added to the economy in February, not 216,000. In March, small businesses, […]

Mortgage Activity Rises In Week

WASHINGTON, (UPI) — The Mortgage Bankers Association said U.S. mortgage activity rose in the week ending Friday with refinancing up after six consecutive weekly declines. Mortgage activity rose 4.8 percent, while the trade group’s Refinancing Index rose 4 percent from the previous week, the MBA said. Interest rates for 30-year, fixed-rate conforming mortgages climbed from […]

Obama Signs Stock Act Into Law

WASHINGTON, (UPI) — U.S. President Barack Obama signed into law Wednesday legislation that bans insider trading by Congress. The Stop Trading on Congressional Knowledge Act of 2012 prohibits members of Congress, executive branch employees, federal judges and judicial employees from using “non-public information derived from their official positions for personal profit,” the White House said. […]

Custodians In Chicago Authorize Strike

CHICAGO, (UPI) — A services employees union in Chicago said rank-and-file members have authorized a strike if a deal is not struck by Sunday, when their contract expires. The Services Employees International Union Local 1, which represents 13,000 custodians, is holding talks, separately, with management firms that cover downtown Chicago and outlying suburbs, the Chicago […]

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