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Business


Sales Drop Week To Week

WASHINGTON, Feb. 14 (UPI) — U.S. sales receipts fell sharply in the week ending Friday as a trade group said low volumes of sales can produce more volatile swings than high volumes. Sales for the week ending Saturday “tumbled by 2 percent,” the International Council of Shopping Centers said in their weekly sales tracking report. […]

Firm Warns Of Workplace Anger

CHICAGO, Feb. 11 (UPI) — Outplacement firm Challenger, Gray & Christmas warned that U.S. companies could be packed with angry workers this Valentine’s Day season. “Now we’re getting into a point in the economy where companies are going to start hiring soon,” explained the firm’s spokesman James Pedderson. “So now we’re starting to get to […]

Grand Jury Handed Evidence On Avon

NEW YORK, Feb. 13 (UPI) — U.S. prosecutors have handed a grand jury evidence on Avon Products Inc.’s alleged bribery of Chinese officials, sources told The Wall Street Journal. Allegedly, Avon bribed Chinese officials while seeking a permission to do sales door-to-door in China. Some of these payments were even listed as gifts on company […]

Detroit Not Jumping On Garage Sale Option

DETROIT, Feb. 13 (UPI) — Detroit Mayor Dave Bing’s Chief of Staff Kirk Lewis said the mayor has no plans to sell city assets, which could quickly relieve the city’s cash crunch. “There is no component of the mayor’s deficit plan that currently includes the selling of city assets,” said Kirk Lewis, Bing’s chief of […]

CFPB To Post Prototype Mortgage Statement

WASHINGTON, Feb. 13 (UPI) — The director of the U.S. Consumer Financial Protection Bureau said the agency will issue a prototype mortgage statement as a guideline for lenders. In an editorial published Monday in the Politico, Director Richard Cordray said the mortgage statement should include how much principal is owed to the lender, an up […]

LaHood Calls Budget Proposal Sound

WASHINGTON, Feb. 13 (UPI) — U.S. Transportation Secretary Ray LaHood called President Barack Obama’s $74 billion budget allocation for the department an asset to economic growth. “A strong American economy depends on the roadways, runways and railways that move people and goods from coast to coast and around the globe,” LaHood said in a statement. […]

U.S. Trade Gap Widened In 2012

WASHINGTON, Feb. 10 (UPI) — The U.S. trade deficit widened considerably in 2011 from 2010, the U.S. Census Bureau said Friday. The trade gap tacked on an additional $58 billion to reach $558 billion for the year. Exports in 2011 reached $2.1 trillion, while imports reached $2.6 trillion. For the year, the trade deficit in […]

Cruise Lines Revamp Safety Drill Standards

ROME, Feb. 10 (UPI) — Three cruise line trade associations said the foundering of the Costa Concordia in Italy in January had prompted adoption of new passenger safety drills. In a joint statement, the Cruise Lines International Association, European Cruise Council and Passenger Shipping Association said before ships set sail passengers would be obliged to […]

Video Game Sales Crashed In January

LOS ANGELES, Feb. 10 (UPI) — U.S. video game sales dropped sharply in January compared to a year earlier, industry research firm NPD Group Inc. said. Sales for game devices, also fell. The Los Angeles Times reported Friday that revenue from games and consoles fell 34 percent from the same month a year earlier to […]

Banks Not Free Of Foreclosure Crisis

WASHINGTON, Feb. 10 (UPI) — Officials and industry observers said U.S. banks are not free and clear from foreclosure problems despite a $25 billion settlement announced Thursday. “Banks are not going to see the bright sunlight for some time to come,” said securities law professor James Cox of Duke University. The Los Angeles Times reported […]

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