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Retail Sales Up A Touch

WASHINGTON, Jan. 31 (UPI) — U.S. sales receipts at chain stores rose slightly in the week ending Saturday, the International Council of Shopping Centers said Tuesday. Sales rose 0.1 percent in the week, but came in 3.9 percent higher than the same week of 2011, the trade group said. Consumer trends shifted “towards staples and […]

Consumer Confidence Slides

NEW YORK, Jan. 31 (UPI) — Consumer confidence in the United States retreated in January after two months of gains, the Conference Board said Tuesday. The index hit a two-year low in August, then posted gains in September, November and December, sliding a touch in October. In January, the index dropped from 64.8 to 61.1, […]

Ford Posts Net Income Topping $20 Billion

DEARBORN, Mich., Jan. 27 (UPI) — U.S. automaker Ford Motor Co. said Friday it took a one-time accounting benefit that propelled its fourth quarter net income to $13.6 billion. It was the most ever for Ford in a fourth quarter and helped put the company in the black for the third consecutive year. Ford’s fourth […]

Chrysler Poised To Hire

AUBURN HILLS, Mich., Jan. 28 (UPI) — Chrysler Group LLC is set to hire 1,600 workers in Illinois, sources told the Chicago Tribune. The move, to be announced Thursday, is the initial stage of a hiring spree expected to last three years, the sources said. The first wave of hiring is being made to ramp […]

Two Of Five Want Healthy Super Bowl Food

WASHINGTON, Jan. 29 (UPI) — The Super Bowl and food go hand in hand, but a U.S. survey says 2 out of 5 individuals who plan to watch the big game say healthful food items are a must. The National Restaurant Association estimates 48 million Americans will order takeout or delivery food from a restaurant […]

Spending Flat Despite Wage Gains

WASHINGTON, Jan. 30 (UPI) — Consumer incomes rose in December, while consumer spending was flat, the U.S. Commerce Department’s Bureau of Economic Analysis said Monday. Incomes rose by $61.3 billion or 0.5 percent, while spending fell by $2 billion or less than 0.1 percent. Disposable incomes rose by $47.1 billion or 0.4 percent, the agency […]

Starbucks Ventures Into India

MUMBAI, Jan. 30 (UPI) — U.S. coffee giant Starbucks said Monday it had formed a joint venture with Tata Global Beverages to develop a presence in India. The venture will create a division called TATA Starbucks Ltd. Starbucks said outlets will start opening in 2012 in cities across India. The agreement calls for Tata to […]

Weekly First-Time Jobless Claims Jump

WASHINGTON, Jan. 26 (UPI) — Initial unemployment claims rose by 21,000 to a seasonally adjusted 377,000 for the week ending Jan. 21, the U.S. Labor Department said Thursday. The previous week’s upwardly revised figure was 356,000, the department said in a release. At 377,500, the four-week moving average held to less than 400,000 for the […]

Mortgage Rates Pull Away From Record Lows

WASHINGTON, Jan. 26 (UPI) — Average fixed mortgage interest rates for 30-year contracts rose from record lows in the week, the Federal Home Loan Mortgage Corp. said Thursday. Rates for 30-year contracts rose from 3.88 percent with 0.7 points to 3.98 percent after setting record lows for three consecutive weeks. A year earlier, 30-year mortgage […]

Economic Pain Stronger For U.S. Hispanics

WASHINGTON, Jan. 26 (UPI) — Data backs up the belief among U.S. Latinos that they’ve been hurt more by the economic downturn than other groups, researchers said. Fifty-four percent of Latinos say they believe that the economic downturn that began in 2007 has been harder on them than on other Americans, the Pew Hispanic Center, […]

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