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Early Thoughts On Auto Bailout Revealed

WASHINGTON, Jan. 24 (UPI) — White House economic adviser Lawrence Summers warned not to push U.S. auto companies into bankruptcy too quickly, a recently surfaced document says. A document prepared for President-elect Barack Obama in December 2008 warned that options of an early bankruptcy filing for General Motors and Chrysler considered by the George W. […]

Home Prices Up Slightly In November

WASHINGTON, Jan. 25 (UPI) — U.S. home prices rose 0.1 percent in November compared with October, the Federal Housing Finance Agency said Wednesday. Home prices were down 1.8 percent from November 2010 and down 18.8 percent from the peak of April 2007, the agency said. Of the nine districts tracked, prices in the Middle Atlantic […]

Pending Home Sales Slipped In December

WASHINGTON, Jan. 25 (UPI) — A pending U.S. home sales index slipped 3.5 percent in December, the National Association of Realtors said Wednesday. The Pending Home Sales Index fell further than expected. Economists had predicted a drop of 0.1 percent. December’s drop put the index at 96.6, down from November’s 100.1. From December 2010, the […]

A New Look At McDonald’s

OAK BROOK, Ill., Jan. 25 (UPI) — McDonald’s executives said it is time to expand and to redecorate existing restaurants in the United States and elsewhere. “We believe now is an opportune time to strategically increase new store openings while continuing a significant focus on re-imaging,” McDonald’s Chief Finance Officer Peter Bensen said, The Chicago […]

European Banks Picking Up New Capital

FRANKFURT, Germany, Jan. 25 (UPI) — Banks in Europe are well on their way toward satisfying new capital requirements set by regulators, data shows. Banks have been ordered to raise an additional $150 billion by summer to meet requirements meant to ensure they have enough capital on hand to weather a financial downturn, The New […]

Starbucks Keeps Alcohol Expansion Going

SEATTLE, Jan. 23 (UPI) — Coffee retailer Starbucks said it would begin serving beer and wine at outlets in Atlanta, Chicago and Southern California. Up to six stores in Southern California could be serving alcohol by the end of the year, Starbucks said. The franchise already has wine and beer on the menu in five […]

States Consider Rolling The Dice

LAS VEGAS, Jan. 23 (UPI) — Politicians choosing to give Las Vegas a run for its gambling revenues might find now is a good time to push the concept, an economics professor said. “People want jobs and they don’t want higher taxes. Legalizing casinos can be argued to create jobs and tax revenues,” said Douglas […]

Auto Show A Sign Of Industry Resurgence

DETROIT, Jan. 23 (UPI) — Attendance at the North American International Auto Show in Detroit was well above expectations, the event’s chairman said. The attendance record is more than 800,000, set in 2003, said event chairman Bill Perkins, who also owns several auto dealerships. The Detroit News reported Monday that this year it was predicted […]

Super Bowl Ads Called Misguided

WEST LAFAYETTE, Ind., Jan. 23 (UPI) — Expensive TV spots for the biggest U.S. sports spectacle of the year have become a misguided venture for advertisers, a University of Purdue professor says. Professional football’s big show, the Super Bowl, is often seen as an annual coming out party for no-holds-barred corporate ad campaigns. But airing […]

Foreclosure Deal Still Has Holdouts

WASHINGTON, Jan. 24 (UPI) — Holdouts disagreed with U.S. Housing Secretary Shaun Donovan, who said prosecutors were close to a deal with U.S. banks over their foreclosure practices. After a meeting with 15 Democratic state attorneys general, Donovan declared a deal was “very close,” The New York Times reported. Donovan also reached out to Republican […]


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