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Tourism On Pace For Record Year

WASHINGTON, Dec. 27 (UPI) — Foreign visitors spent $13.1 billion to see the sights while visiting the United States in October, the U.S. Office of Travel and Tourism Industries said. Expenditures on transportation and tourism jumped 13 percent over October 2010, putting tourism in a rare category of an industry doing better than it did […]

Retailers Report Strong Finish For 2011

WASHINGTON, Dec. 28 (UPI) — U.S. retail sales rose 0.9 percent in the week ending on Christmas Eve and jumped up from the same week of 2010, a trade group said. The International Council of Shopping Centers deemed the 0.9 percent week-to-week rise a “solid” gain for retailers. The final week of the retail marathon […]

Online: Bring Your Own Bottle And Shop

NEW YORK, Dec. 28 (UPI) — U.S. retailers acknowledge they are making sales to tipsy consumers who are shopping with a mouse in one hand and a cocktail in the other. “Post-bar, inhibitions can be impacted, and that can cause shopping, and hopefully healthy impulse buying,” said Andy Page, the president of online retail business […]

Panda Express Headed For The Cleaners

LOS ANGELES, Dec. 28 (UPI) — U.S. fast-food chain Panda Express said it is turning its Chinese food franchise expertise to a new venture — dry cleaning. “There isn’t any consolidation in this particular industry. There is no McDonald’s of dry cleaners. We see this as an opportunity,” said Andrew Cherng, co-chief executive officer of […]

By Consensus, Google+ Is Growing Fast

MOUNTAIN VIEW, Calif., Dec. 28 (UPI) — U.S. Internet giant Google’s social networking Web service Google+ is adding 4,375,000 users every week, an unofficial monitor of the service said. The estimate, made by Ancestry.com founder Paul Allen, is unofficial. ComScore reported last week the number of unique visitors checking out Google+ in November was 67 […]

Sears To Close 3 Percent Of Its Stores

HOFFMAN ESTATES, Ill., Dec. 27 (UPI) — Sears Holdings Corp. said Tuesday it would close up to 120 Kmart and Sears U.S. stores due to slow sales, especially in electronics and home appliances. The company, which currently operates 4,000 stores, did not say which stores would close, but said a list would be published online […]

Consumer Confidence Up Two Months Running

NEW YORK, Dec. 27 (UPI) — Consumer confidence in the United States rose for the second consecutive month in December, the Conference Board said Tuesday. After hitting a two-year low in August and posting a slight gain in September, confidence slipped again in October. The index then jumped sharply from 40.9 to 55.2 in November. […]

Home Prices Remain In Slump

NEW YORK, Dec. 27 (UPI) — U.S. home prices declined in both 10-city and 20-city composite indexes in October, the closely watched S&P/Case-Shiller home index report said. The 10-city index dropped from 153.03 in September to 152.24 in October, a low unseen since July 2003. The 20-city index dropped from 139.42 to 138.56, a low […]

Detroit Warned About Bankruptcy Option

DETROIT, Dec. 27 (UPI) — Bankruptcy experts said Detroit should choose a path other than seeking court protection, which would be costly in terms of time and money. The city would lawyer up. The unions would lawyer up. Creditors would also seek legal advise, “you you’re taking tens of millions of dollars in legal fees,” […]

Obama Nominates Two For Fed Board

WASHINGTON, Dec. 27 (UPI) — President Obama Tuesday nominated one Washington insider and one academic to serve on the Board of Governors of the U.S. Federal Reserve. Obama tapped former Undersecretary of the Treasury for Finance Jerome Powell and Harvard University economics Professor Jeremy Stein, the White House said in a statement. “I am grateful […]

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