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Factory Orders Rose In February

WASHINGTON (UPI) — U.S. factory orders rose 1.3 percent from January to February with orders reaching to $468.4 billion, the U.S. Census Bureau reported Tuesday. Factory orders increased by $6 billion, coming in just shy of expectations. Economists predicted new orders to rise 1.4 percent. Excluding transportation, new orders rose 0.9 percent. Shipments of goods, […]

Retail Sales Rebound In Week

DETROIT (UPI) — U.S. retail sales rebounded in the week ending Saturday as warmer temperatures continued to shape the retail environment. The International Council of Shopping Centers said sales rose 3.8 percent compared to the previous week, in part due to pent up demand. A week earlier, sales fell 0.5 percent compared to the prior […]

Gallup: Romney Support At 40 Percent

PRINCETON, N.J. (UPI) — The latest Gallup poll Friday indicated Mitt Romney has the support of 40 percent of Republicans in the battle for the GOP’s U.S. presidential nomination. It is first time a U.S. presidential candidate has reached that level in this campaign. The result came in the same week Romney posted a convincing […]

Geithner: No Plans To Increase IMF Funding

WASHINGTON (UPI) — U.S. Treasury Secretary Timothy Geithner said Wednesday there were no plans to increase U.S. aid to the International Monetary Fund. In a prepared text presented to the House Financial Services Committee, Geithner said the European economy was critical and its troubles had wide-ranging implications. However, “We have no intention to seek additional […]

U.S. Mortgage Rates Move Higher

WASHINGTON (UPI) — Average long-term U.S. mortgage rates topped 4 percent for the first time in months in the week ending Thursday, the Federal Home Loan Mortgage Corp. said. Rates for 30-year contracts rose from 3.92 percent to 4.08 percent with 0.8 point for the week. A year earlier, 30-year mortgage rates averaged 3.92 percent. […]

First-Time Jobless Claims Drop By 5,000

LONDON (UPI) — The U.S. Labor Department said first-time jobless claims fell 5,000 in the week ended Saturday to 348,000, pushing the four-week rolling average to 355,000. Last week’s drop followed a decrease of 14,000 the preceding week. The four-week rolling average decreased 1,250 from the previous week’s 356,250, Labor said. The biggest increases in […]

Detroit’s Finances Deemed In Severe Straits

DETROIT (UPI) — A team of financial advisers in Michigan deemed the city of Detroit in serious financial straits but said it would hold off on an outright state takeover. The state-appointed team reviewing the city’s finances said Detroit was in a “severe financial emergency,” The Detroit News reported Thursday. Michigan’s laws allow the state […]

California Fines Walmart $2.1 Million

SAN DIEGO (UPI) — A judgment in California concerning scanning errors at Walmart Stores has been extended and revamped, court papers say. San Diego, Calif., Superior Court Judge Jeffrey Barton agreed with prosecutors who charged Walmart Stores Inc., with failing to follow through on a 2008 judgment that also involved overcharging customers. Barton ordered an […]

Work Gaps? Employers Say They Understand

CHICAGO (UPI) — A majority of U.S. employers in a national poll indicated they understand the recent recession disrupted normal career paths. It is fairly standard for job seekers to worry a gap in their employment record makes them appear unemployable or lazy — or both. In addition, many worry taking a job with lesser […]

Higher Rates Slow Mortgage Activity

WASHINGTON (UPI) — The Mortgage Bankers Association said U.S. mortgage activity fell 7.4 percent in the week ending Friday, as interest rates rose. Interest rates for 30-year, fixed-rate conforming mortgages climbed from 4.39 percent to 4.49 percent with average points rising from 0.43 to 0.47. Rates for 15-year, fixed-rate contracts rose from 3.36 percent to […]


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