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14 Employees Lose Jobs Over Orange Shirts

DEERFIELD BEACH, Fla. (UPI) — Fourteen employees of a Deerfield Beach, Fla., law firm say they found themselves out of jobs after management mistook their orange shirts for a protest. The employees told the South Florida Sun Sentinel they all wore orange on payday Fridays so they would look like a group when they went […]

Youngest Seniors Getting Reverse Mortgages

WESTPORT, Conn. (UPI) — Twenty percent of U.S. adults who get a reverse mortgage are baby boomers ages 62-64, a much younger demographic than before, insurance officials said. Sandra Timmermann, director of the MetLife Mature Market Institute, said the special types of home loans that allow people to get payments from their home equity, evolved […]

Builder Confidence Unchanged In March

WASHINGTON (UPI) — U.S. builders remain cautious about the health of their industry, a national housing market index indicated. The National Association of Home Builders/Wells Fargo Housing Market Index was unchanged in March, holding at 28 after six consecutive months of gains. The break-even point on the index is 50 points. Below 50 means more […]

$25 Billion Made On Housing Market Rescue

WASHINGTON (UPI) — The U.S. Treasury said Monday it made a $25 billion profit on $225 billion invested in mortgage-backed securities during the financial crisis. The government began selling securities last year that were backed by the Federal Home Loan Mortgage Corp., known as Freddie Mac, and the Federal National Mortgage Association, known as Fannie […]

Sears To Shutter 53 Hardware Outlets

HOFFMAN ESTATES, Ill. (UPI) — Sears Holding Corp. said Friday it will close 53 home improvement stores but hasn’t revealed the locations of the doomed outlets. “They are primarily independently owned and operated. We will not be putting out a list any time soon,” said Sears spokeswoman Kimberly Freely, referring to a list of specific […]

Banks Reviewing Conflict-Of-Interest Rules

NEW YORK (UPI) — Wall Street banks are reviewing their conflict-of-interest rules based on a recent court decision critical of a Goldman Sachs banker, experts said. A judge in Delaware was critical of financial adviser Stephen Daniel, who owned $340,000 in Kinder Morgan while advising Texas pipeline company El Paso Corp., which recently announced the […]

Energy Pushes Rise In Consumer Prices

WASHINGTON (UPI) — The Consumer Price Index rose 0.4 percent in February, with prices pushed by a sharp increase in the cost of gasoline, the U.S. Commerce Department said Friday. Gas prices jumped 6 percent, pushing the CPI to its highest one-month climb in 10 months. Food prices remained flat. That left core prices (excluding […]

Industrial Production Flat In February

WASHINGTON (UPI) — Industrial production was flat in February after a rise of 0.4 percent in January, the U.S. Federal Reserve said Friday. The January figure is revised from a month earlier, when the Fed said industrial production was unchanged from December. In February, Manufacturing output rose 0.3 percent, including a 1.1 percent rise in […]

Producer Prices Up 0.4 Percent

WASHINGTON (UPI) — The U.S. Producer Price Index for finished goods rose 0.4 percent from January to February, the Bureau of Labor Statistics reported Thursday. Overall, the price of finished goods rose slightly less than economists predicted. The consensus estimate called for a 0.5 percent rise in prices. Inflation is currently being held in check […]

Annual Foreclosure Rate Up In 21 States

IRVINE, Calif. (UPI) — Data shows that gains the U.S. housing market made in foreclosure activity are fading, an online foreclosed property marketplace reported Thursday. In February, 206,900 U.S. residential properties were involved in some stage of foreclosure — either in default or in preparation for a bank seizure or an involuntary auction, RealtyTrac reported […]

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