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Crude Oil Supplies Rise In Week

WASHINGTON (UPI) — U.S. crude oil inventories rose by 1.8 million barrels in the week that ended Friday, the U.S. Energy Information Administration said. The agency said crude oil inventories rose to 347.5 million barrels in the latest report. Supplies are in the upper limit for the average range for this time of year, the […]

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 […]

Transit Strike Hobbles Italy

ROME (UPI) — Transit workers in Italy went on strike Wednesday, stopping train, bus and subway service for four hours to protest the government’s economic reforms. The strike slowed or halted services in Rome, Milan and Naples, as thousands of transit workers walked off their jobs, ANSA reported Wednesday. “The so-called ‘Grow Italy’ measure under […]

Fed: Large Banks Meet Capital Requirements

WASHINGTON (UPI) — The Federal Reserve said Tuesday most large U.S. banks are meeting capital requirements despite projected losses in a down economy. Summary results of the most recent round of bank stress tests showed “the majority of the largest U.S. banks would continue to meet supervisory expectations for capital adequacy despite large projected losses […]

Encyclopedia Britannica Ends Print Edition

CHICAGO (UPI) — Encyclopedia Britannica Inc., based in Chicago, says it is switching entirely to online publication after 244 years and the 2010 print version will be the last. Jorge Cauz, president of the Britannica, said sales of the book version represent only 1 percent of the company’s revenue, CNN reported Tuesday. The vast majority […]

Mortgage Activity Down Slightly In Week

WASHINGTON (UPI) — The Mortgage Bankers Association said U.S. mortgage activity fell 2.4 percent in the week ending Friday, as interest rates were little changed. Interest rates for 30-year, fixed-rate conforming mortgages were unchanged at 4.06 percent with average points falling from 0.5 to 0.43. Rates for 15-year, fixed-rate contracts were unchanged for the second […]

Warm Weather Gives Clothing Sales A Lift

WASHINGTON (UPI) — U.S. retail sales for the week ending Saturday rose by 0.7 percent from the previous week with clothing leading the way, a trade association said. The International Council of Shopping Centers said sales also rose 2.3 percent over the same week of 2011 with “more color in fashion and the unleashing of […]

Rents Up, House Prices Down In U.S.

LOS ANGELES (UPI) — Rents are rising in the United States as former homeowners seek places to live and the job market picks up, experts say. The tighter rental market comes at a time when home sale prices are dropping, the Los Angeles Times reported Monday. But it could be a sign of a turnaround […]

Retail In February Up 1.1 Percent

WASHINGTON, Calif. (UPI) — Retail sales rose 1.1 percent in February over January, with motor vehicle sales up 1.6 percent, the U.S. Census Bureau said Tuesday. Retail sales, including food service sales, adjusted for seasonal variations but not for prices rose to $407.8 billion on sales that were 6.5 percent higher than in February 2011, […]

Trade Inventories Rose In January

WASHINGTON (UPI) — Manufacturing and trade business inventories rose 0.7 percent in January, beating expectations, the U.S. Commerce Department said Tuesday. Economists had expected a 0.5 percent rise from the previous month. Inventories rose to $1.56 trillion, an 7.6 percent increase from a year earlier. Trade sales and manufacturers’ shipments rose 0.4 reaching $1.23 trillion. […]


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