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Key States Lean Toward Foreclosure Deal

WASHINGTON, Feb. 6 (UPI) — California and New York appear ready to join in an agreement with national banks to settle widespread foreclosure processing abuses, officials said. New York Attorney General Eric Scheiderman has said progress is being made on an agreement he was previously reluctant to support, The New York Times reported Monday. California […]

Chrysler Starts The Year With A Big Jump

DETROIT, Feb. 1 (UPI) — U.S. automaker Chrysler Group LLC posted a January-to-January sales gain of 44.3 percent, Autodata reported Wednesday. Chrysler, the smallest of the so-called Big Three, said it sold 101,149 vehicles in January, compared with 70,118 in January 2011. Sales at General Motors Co. declined 6.1 percent January to January with a […]

American Airlines To Cut Spending And Workforce

FORT WORTH, Texas, Feb. 1 (UPI) — AMR Chief Executive Officer Tom Horton said Wednesday that U.S. carrier American Airlines is aiming for 20 percent in cost reductions across the board. In a memo addressed employees, Horton said, “all work groups will have total costs reduced by 20 percent, including management.” The memo did not […]

Initial Jobless Benefit Claims Drop

WASHINGTON, Feb. 2 (UPI) — Initial unemployment claims fell by 12,000 to a seasonally adjusted 367,000 for the week ending Jan. 27, the U.S. Labor Department said Thursday. The previous week’s upwardly revised figure was 379,000, the department said in a release. At 377,750, the four-week moving average held to less than 400,000 for the […]

Non-Farm Productivity Up 0.7 Percent

WASHINGTON, Feb. 2 (UPI) — The U.S. Labor Department said non-farm productivity rose 0.7 percent annual rate in the fourth quarter. Output rose 3.6 percent after rising 3.2 percent in the third quarter. Hours worked rose 2.9 percent after rising 0.8 percent in the third quarter, the department said. In the past 12 months, comparing […]

Job Cuts Spiked In January

CHICAGO, Feb. 2 (UPI) — U.S. employers in January announced a reduction of 53,486 jobs, a 28 percent jump over layoffs announced in December, a private research group said. The total for the month was also 39 percent higher than January 2011 and shows a labor market that is headed in two directions. While larger […]

IRS Conducts Identity Theft Sweep

WASHINGTON, Jan. 31 (UPI) — The Internal Revenue Service said Tuesday refunds to some early U.S. tax filers may be delayed in a bid to crack down on identity theft and refund fraud. Last week, the IRS and the Justice Department conducted a nationwide sweep that resulted in 58 arrests. The IRS said it has […]

Private Sector Adds 170,000 Jobs In January

ROSELAND, N.J., Feb. 1 (UPI) — Payroll firm Automatic Data Processing Inc. said the U.S. economy added 170,000 private sector jobs in January, in line with economists’ expectations. Economists predicted a slightly higher figure, forecasting there would be 185,000 jobs added in the month. ADP also said Tuesday December’s gain was not as high as […]

Eurozone Manufacturing Slowed In January

LONDON, Feb. 1 (UPI) — Manufacturing activity in the eurozone contracted in January for the fifth consecutive month, research firm Markit Economics said Wednesday. There was a silver lining in the report. Manufacturing activity declined in the 17-nation currency region, but not as sharply as in December, Markit said. Markit said the Purchasing Managers Index […]

Mortgage Activity Slows Slightly

WASHINGTON, Feb. 1 (UPI) — The Mortgage Bankers Association said U.S. mortgage activity fell 2.9 percent in the week ending Friday, although long-term interest rates also fell slightly. Interest rates for 30-year, fixed-rate conforming mortgages fell from 4.11 percent to 4.09 percent with average points falling from 0.47 to 0.41. Rates for 15-year, fixed-rate contracts […]


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