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In Britain, A Day For Feeling Blue

LONDON, Jan. 16 (UPI) — Britain tipped its hat to the blues Monday, declaring it the gloomiest day of the year amidst a still-sour economy. Call it Ebeneezer Scrooge’s birthday or maybe Eeyore’s. The third Monday in January is called Blue Monday, because the weather is often dismal, holiday parties are over and everyone who […]

Irish Billionaire Bankrupt, Court Says

DUBLIN, Ireland, Jan. 16 (UPI) — Sean Quinn, once considered Ireland’s wealthiest man, was declared bankrupt in a Dublin court Monday. The 64-year-old businessman who headed the Quinn Group and whose personal wealth Forbes magazine had estimated at $6 billion four years ago, had judgments of more than 2 billion Euros ($2.52 billion) against him, […]

Fed Scripts Show Housing Under The Radar

WASHINGTON, Jan. 12 (UPI) — Detailed transcripts of U.S. Federal Reserve meeting minutes released five years after the fact show only minor concern over the housing bubble in 2006. In the first months of Fed Chairman Ben Bernanke’s tenure as the head of the central bank, two Fed officials, Gov. Susan Bies and Vice Chairwoman […]

Mexican Immigrants Sending More Money Home

LOS ANGELES, Jan. 12 (UPI) — The amount of money sent home by Mexican immigrants in the United States was up 8 percent last year after a three-year drop, analysts say. Western Union Co. and other money transfer businesses report 2011 was a good year, the Los Angeles Times reported. Western Union said revenue from […]

Raymond James To Buy Morgan Keegan

ST. PETERSBURG, Fla., Jan. 12 (UPI) — Florida financial firm Raymond James Financial said Thursday it would purchase Morgan Keegan & Co. based in Memphis, Tenn., for $930 million. The deal with parent company Regions Financial includes related Morgan Keegan affiliates, Raymond James said in a statement. “While our preference is generally organic growth, we […]

2011 Retail Sales Up 7.7 Percent Over 2010

WASHINGTON, Jan. 12 (UPI) — Retail sales jumped 7.7 percent in 2011 over 2010, with auto sales up 9.9 percent and gasoline sales up 17.7 percent, the U.S. Census Bureau said Thursday. Retail sales, including food service sales, adjusted for seasonal variations but not for prices rose to $400.6 billion on December sales that were […]

U.S. Trade Deficit Heads Higher

WASHINGTON, Jan. 13 (UPI) — The U.S. international trade deficit widened sharply November, the U.S. Census Bureau said Friday. After three months of consistent numbers — a $44.9 billion deficit in August, a $44.2 billion deficit in September and a $43.3 billion deficit in October — the the bureau said U.S. exports dropped to $177.8 […]

U.S. Foreclosures Expected To Rise In 2012

IRVINE, Calif., Jan. 12 (UPI) — After a big drop in U.S. property foreclosures in 2011 due to industry uncertainty, the tide will likely rise this year, a marketing firm said Thursday. Foreclosures were down one third in the United States last year and, at 1.9 million, were the lowest since 2007, the report issued […]

First-Time Jobless Claims Up By 24,000

WASHINGTON, Jan. 12 (UPI) — Initial unemployment claims rose by 24,000 to a seasonally adjusted 399,000 for the week ending Jan. 7, the U.S. Labor Department said Thursday. The previous week’s revised figure was 375,000, the department said in a release. At 381,750, the four-week moving average held to less than 400,000 for the ninth […]

Mortgage Rates Head To Record Lows

WASHINGTON, Jan. 12 (UPI) — Average fixed mortgage interest rates set record lows in the week ending Thursday, the Federal Home Loan Mortgage Corp. said. The record-breaking is beginning to look like a habit, Freddie Mac said, calling it a “trend.” Average mortgage rates set “new all-time record lows for all products covered in the […]

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