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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 […]

Retailers Banking On Procrastinators

LOS ANGELES, Dec. 23 (UPI) — The last days of shopping before Christmas are expected to feature discounts and extended shopping hours, several large U.S. retailers said. Toys R Us is setting the pace by keeping its stores open nationwide around the clock in a retail version of survival, The Los Angeles Times reported Friday. […]

Air Jordans Rock Retailers, Police Called

INDIANAPOLIS, Dec. 23 (UPI) — A late holiday season release of Air Jordan 11 Retro Concord sneakers was met with chaos in Indianapolis, a police spokeswoman said. “I don’t remember anything like this in the recent past at all, definitely not with the iPhone or anything like that,” said Indianapolis Metropolitan Police Department spokeswoman Linda […]

First-Time Jobless Claims Drop By 4,000

WASHINGTON, Dec. 22 (UPI) — Initial unemployment claims fell 4,000 to a seasonally adjusted 364,000 for the week ending Dec. 17, the U.S. Labor Department said Thursday. The previous week’s revised figure was 368,000, the department said in a release. At 380,250, the four-week moving average held under 400,000 for the sixth consecutive week. The […]

Mortgage Rates Match Or Set Record Lows

WASHINGTON, Dec. 22 (UPI) — The average fixed mortgage rates hit or matched all-time U.S. lows, Freddie Mac said Thursday. The 30-year fixed rate of 3.91 percent set a record low, while the 15-year fixed rate of 3.21 percent matched last week’s record low, the Federal Home Loan Mortgage Corp.’s Primary Mortgage Market Survey for […]


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