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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. […]

U.S. Presses China On Rare-Earth Quotas

WASHINGTON, March 13 (UPI) — The United States has filed a case at the World Trade Organization against China’s restrictions on rare-earth exports, officials said Tuesday. The office of the U.S. Trade Representative Ron Kirk announced the filing, saying the complaint starts with a request for consultations. This is the initial step in a complaints […]

Obama Signs Countervailing Bill

WASHINGTON (UPI) — President Barack Obama Tuesday signed a trade law that allows the Commerce Department to impose countervailing duties on non-market economy goods. In a ruling that applied most prominently to China and Vietnam, a U.S. district court in December ruled the department could not impose countervailing duties on goods from a non-market economy. […]

Student Loans May Be ‘Next Debt Bomb’

WASHINGTON (UPI) — Financial analysts say the “next debt bomb” for the U.S. economy may be the rapidly growing student loan debt burdening most American families. William Brewer, head of the National Association of Consumer Bankruptcy Attorneys, says student loan defaults in the short term “are are not gong to have the same ripple effect […]

Bank Stress Tests Have Many Functions

WASHINGTON (UPI) — Finance experts say the new round of federal stress tests for U.S. banks expose concerns for consumers, bankers and regulators. “Everybody wants to avoid headlines,” The New York Times quoted industry analyst Chris Kotowski at Oppenheimer as saying. “People are angry at the banks and both the banks and the regulators just […]

Hints Point To Fed In A Holding Pattern

WASHINGTON (UPI) — U.S. Federal Reserve officials, including the chairman, have hinted the Fed is unlikely to make a major monetary policy shift in its meeting this week. Chairman Ben Bernanke said the economy was providing mixed signs, pointing out that the labor market, which appears to be improving, does not directly indicate that economic […]

U.S. Files $25 Billion Foreclosure Agreement

WASHINGTON (UPI) — The U.S. government said it filed the historic $25 billion agreement with five national banks in federal court Monday. Filed on behalf of the Justice Department, the Department of Housing and Urban Development and 49 state attorneys general, the agreement is the largest federal-state civil settlement ever obtained, the Justice Department said. […]

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