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51,000 Job Layoffs Announced In February

CHICAGO (UPI) — U.S. employers announced a reduction of 51,728 jobs in February, almost unchanged from the previous month, a private research group said. Total job cuts announced for the month were only down 3.3 percent from the 53,486 job layoffs announced in January, outplacement consultancy Challenger, Gray & Christmas said. For the year to […]

Lehman Brothers’ Long Unwinding Road

NEW YORK (UPI) — Court documents show Lehman Brothers Holdings, the New York bank that did not survive the financial crisis, still has $65 billion in assets to sell. The bank emerged from bankruptcy court Tuesday. But the bank that had 25,000 employees when it folded still has huge holdings left to unwind. The bank […]

Cybertheft Increasing

ALEXANDRIA, Va. (UPI) — The number and types of companies targeted for intellectual property theft are rising rapidly and broadening, a U.S. report states. Mandiant, a threat detection company in Virginia, said the breadth of threats to the corporate world is detailed in its third annual M-Trends report — “M-Trends 2012: An Evolving Threat” — […]

ADP Says 216,000 Jobs Added In February

ROSELAND, N.J. (UPI) — Payroll firm Automatic Data Processing Inc. said the U.S. economy added 216,000 private sector jobs in February, about 8,000 more than economists expected. ADP also said January’s gain was higher than previously published. The firm said 173,000 jobs were added to the economy in January, not 170,000. In February, small businesses, […]

Mortgage Activity Down Slightly In Week

WASHINGTON (UPI) — The Mortgage Bankers Association said U.S. mortgage activity fell 1.2 percent in the week ending Friday, despite marginally lower interest rates. Interest rates for 30-year, fixed-rate conforming mortgages fell from 4.07 percent to 4.06 percent with average points falling from 0.51 to 0.5. Rates for 15-year, fixed-rate contracts were unchanged at 3.36. […]

Attorney: FDIC Is Blaming Community Banks

ATLANTA (UPI) — Federal regulators suing 12 former bank officials in Georgia are attempting to blame the financial crisis on community bankers, an attorney in Atlanta said. “Our view is that this is the latest example [of] the Federal Deposit Insurance Corp. trying to blame small-town community bankers for the financial crisis,” said Alston & […]

IHS: Don’t Panic Yet Over Gas Prices

ENGLEWOOD, Colo. (UPI) — U.S. consumers paying $5 per gallon at gasoline pumps would be a serious economic setback but it is not a very likely one soon, IHS Inc. economists said. “If there is a serious oil supply disruption in the Middle East and Brent crude prices top $150 a barrel, pushing the national […]

Online Job Listings Rose In February

NEW YORK (UPI) — The ratio of job listings online to unemployed U.S. workers dropped below 1-to-3 for the first time since November 2008, The Conference Board said. Online job listings rose by 39,900 in February after rising in December and January, the research firm said Monday. There are 8.4 million more unemployed people than […]

Europe Flirting With Recession

BRUSSELS (UPI) — Eurostat, the statistical agency of the European Union, confirmed Tuesday that the economies of the eurozone shrank in the fourth quarter. The gross domestic product in the 17-nation region that shares the euro as currency fell 0.3 percent compared to the third quarter, the agency said, keeping its estimate consistent with the […]

Fuel Efficiency Rises Among New Cars Sold

DETROIT (UPI) — The fuel efficiency of all the cars sold in the United States is rising, a research institute in Michigan said. Vehicles purchased by consumers in February averaged 23.7 miles per gallon, up from 22.7 mpg in February 2011 and from 20.4 mpg in February 2008, the Michigan Transportation Research Institute said. The […]


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