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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 […]

Spending And Incomes Up Slightly

WASHINGTON, Dec. 23 (UPI) — Consumer incomes matched a 0.1 percent rise in consumer spending in November, the U.S. Commerce Department’s Bureau of Economic Analysis said Friday. Incomes rose by $8.5 billion while spending rose by $13.1 billion. Disposable incomes fell by $5 billion or less than 0.1 percent, the agency said. Core spending, a […]

Sales Of New Homes Rose In November

WASHINGTON, Dec. 23 (UPI) — Sales of new single-family homes rose 1.6 percent from October to November, the U.S. Commerce Department said Friday. Home sales in November came in at a seasonally adjusted annual rate of 315,000. In October, 310,000 new homes were sold, the department said, releasing a revised figure. The rate of home […]

Steve Jobs Honored With Grammy Award

SANTA MONICA, Calif., Dec. 23 (UPI) — Steve Jobs, the founder of U.S. technology giant Apple Inc., has been awarded a Grammy posthumously, The Recording Academy said. Jobs, who also was chief executive officer of Apple until just before he died of cancer in October, was given the academy’s Trustees Award because he “helped create […]

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