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Travel Expects To Pass Milestones In 2012

LONDON (UPI) — World travel, poised to hit major milestones in 2012, is expected to grow fastest in South and Northeast Asia this year, a global tourism trade group said. The World Travel & Tourism Council said Wednesday the travel industry is expected to grow by 2.8 percent in 2012, led by growth of 6.7 […]

Chrysler’s Marchionne Skipped Pay Again

AUBURN HILLS, Mich. (UPI) — Chrysler Group Chief Executive Officer Sergio Marchionne worked without compensation in 2011, the second straight year he has done so, company documents reveal. The U.S. automaker’s annual filing Tuesday didn’t indicate why Marchionne chose to forgo any salary, bonuses and stock options, The Wall Street Journal reported. Chrysler turned a […]

Jobless Claims Rise In Week

NEW YORK (UPI) — The four-week rolling average of first-time unemployment benefits was little changed in the week ending Saturday, the U.S. Labor Department said. The four-week rolling average rose by 250 to 355,000, the department said. First-time claims for unemployment benefits for the week rose by 8,000 to 362,000. The U.S. unemployment rate was […]

Mortgage Rates Remain Near Lows

WASHINGTON (UPI) — Average U.S. mortgage rates remain at or near historic lows in the most recent week, the Federal Home Loan Mortgage Corp. said Thursday. Average rates for 15-year fixed rate loans hit and all-time low, dropping from 3.17 percent to 3.13 percent with 0.8 point, Freddie Mac said. In the same week of […]

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 & […]


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