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Mortgage Rates Drop Slightly

WASHINGTON, Dec. 8 (UPI) — Long-term mortgage rates dropped slightly in the week ended Wednesday, the U.S. Federal Home Loan Mortgage Corp. said. Freddie Mac said the average interest rate for 30-year, fixed-rate loans dropped from 4 percent to 3.99 percent with an average of 0.7 points for the week. A year earlier, interest rates […]

Wholesale Inventories Rose In October

WASHINGTON, Dec. 8 (UPI) — U.S. wholesale inventories rose 1.6 percent in October, reaching $470.2 billion, the Commerce Department said Thursday. Inventories were up 10.9 percent from October 2010, the department said, while the September estimate was revised upward by 0.2 percent or $800 million. Wholesale sales for October were up 0.9 percent from September […]

Odds Of A Holiday Bonus Go Up

CHICAGO, Dec. 6 (UPI) — The odds of getting a holiday bonus at work improved significantly this year, a private research firm in Chicago said. CareerBuilder said 40 percent of employers in a survey conducted Aug. 16-Sept. 8 indicated they would present bonuses to workers this year, a jump from 33 percent who indicated bonuses […]

Reader’s Digest To Cut 30 Jobs

GREENDALE, Wis., Dec. 6 (UPI) — Reader’s Digest Association Inc. said Tuesday it would cut 30 jobs in its Greendale, Wis., office, as its financial struggles persist. The firm went into Chapter 11 bankruptcy in August 2009 and emerged in February 2010 under a restructuring that gave creditors — owed $1.6 billion — ownership of […]

Black Friday Took Wind Out Of Retail Sails

WASHINGTON, Dec. 7 (UPI) — U.S. retail receipts fell in the week ending Friday as consumers pulled back from a record sales day on Black Friday, a trade group said. Sales dropped 2.3 percent week to week although they were up 3.8 percent compared with the same week of 2010, the International Council of Shopping […]

Mortgage Activity Rises

WASHINGTON, Dec. 7 (UPI) — The Mortgage Bankers Association said U.S. mortgage activity rose 12.8 percent in the week ended Friday with long-term mortgage interest rates falling. Interest rates for 30-year, fixed-rate mortgages fell from 4.21 percent to 4.18 percent with points dropping from 0.49 to 0.48, the trade group said. Rates for 15-year, fixed-rate […]

Sun-Times To Charge For Online Content

CHICAGO, Dec. 7 (UPI) — The Chicago Sun-Times said Wednesday it would shift over to a subscription-based online publication although some of its pages would be available for free. Along with its affiliated Chicago publications, the newspaper’s Web site will allow 20 free visits per month for non-paying consumers and after that will block access […]

Politically Incorrect, But Profitable

NEW YORK, Dec. 5 (UPI) — Investors should not be squeamish when it comes to making money off smoking, drinking and gambling, a U.S. fund manager said. “You have to get beyond the point of saying, ‘I don’t like this’ or ‘I don’t like that,’” said Jerry Sullivan, manager of the Vice Fund, USA Today […]

Potato Chip Bag Tells A Story

PALO ALTO, Calif., Dec. 5 (UPI) — A study at Stanford University showed that the potato chip a U.S. consumer chooses says a lot about the consumer’s social status. “The red-state and blue-state models of our nation are written on the back of every bag of potato chips,” said Dan Jurafsky, a linguist who studied […]

U.S. Turns Into Gasoline Exporter

WASHINGTON, Dec. 5 (UPI) — U.S. oil companies are expected to be net exporters of refined petroleum products for the first time in decades, the government reported. The U.S. Energy Information Administration said the country produced more gasoline in September than it needed, exporting 430,000 barrels per day more than it imported, CNNMoney reported Monday. […]

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