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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 […]

Consumer Confidence Flat In Europe

BRUSSELS (UPI) — The European Commission said Thursday economic confidence was flat in the European Union and in the eurozone in April. Revising figures released in a previous “flash estimate,” the Economic Sentiment Indicator for the EU in April now stands at 93.2, unchanged from the previous month, the commission said. For the eurozone, the […]

Mortgage Rates Remain Low

WASHINGTON (UPI) — Average U.S. mortgage rates for long-term, fixed-rate contracts held near all-time lows in the week, the Federal Home Loan Mortgage Corp. said. In the week ending Thursday, average rates for 30-year contracts dropped from 3.9 percent to 3.88 percent with 0.7 point. Thirty-year mortgage rates averaged 4.78 percent the same week of […]

Class Of 2012 Faces Improved Job Market

CHICAGO (UPI) — The U.S. job market shows a critically promising sign for college graduates, as more than half of employers indicated they plan to hire, a recent study found. In an annual survey conducted by Harris Interactive and sponsored by CareerBuilder, researchers found 54 percent of employers indicated they had plans to hire a […]

Insurers To Pay $1.3 Billion In Rebates

OAKLAND, Calif. (UPI) — Early estimates indicate U.S. insurance firms will pay $1.3 billion in rebates in 2012 for non-compliance with a new federal statute, a watchdog group said. The Affordable Care Act that began in 2011 stipulates large insurers must return 85 percent of premium dollars to customers and smaller firms must reach an […]

Durable Goods Orders Dropped In March

WASHINGTON (UPI) — U.S. durable goods orders dropped 4.1 percent in March, falling farther than the consensus forecast, the Commerce Department said Wednesday. New orders dropped, while February’s estimate of 2.2 percent growth was revised to a 1.9 percent increase. In March, new orders rose by $8.8 billion to $202.6 billion. Transportation orders in March […]

Mortgage Activity Down Slightly In Week

WASHINGTON (UPI) — The Mortgage Bankers Association said U.S. mortgage activity dropped in the week ending Friday, despite dropping interest rates. Mortgage activity fell 3.8 percent in the week. The trade group’s Refinancing Index also fell 2.1 percent from the previous week. Interest rates for 30-year, fixed-rate conforming mortgages fell from 4.05 percent to 4.04 […]

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