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U.S. Household Wealth Fell In 3rd Quarter

WASHINGTON, Dec. 9 (UPI) — Assets owned by U.S. households dropped an average of $7,800 in value in the third quarter because of a sharp decline in stock prices, officials said Thursday. The total decline of $2.2 trillion in household wealth, reported by the Federal Reserve, was the largest since the fourth quarter of 2008, […]

Ford To Pay Dividend In March

DEARBORN, Mich., Dec. 9 (UPI) — Ford Motor Co.’s decision to resume paying a dividend of 5 cents a share next year shows confidence in the Detroit automaker’s recovery, analysts said. The dividend payment, payable in March, is the company’s first since September 2006 and the first paid on common stock by any automaker since […]

Walmart Conducts Corrupt Practices Probe

BENTONVILLE, Ark., Dec. 9 (UPI) — Walmart Stores Inc. said it is investigating whether some of its employees violated the Foreign Corrupt Practices Act, a U.S. law banning bribery overseas. The world’s largest retailer said in a filing with the Securities and Exchange Commission Thursday it uncovered potential improprieties during an internal review on how […]

CEO Departures Slow Down In November

CHICAGO, Dec. 7 (UPI) — For the year to date 1,095 chief executive officers have left their jobs at U.S. companies, a private research firm said Wednesday. Challenger, Gray & Christmas said a low number of CEO departures in November kept the year to date total 2.8 percent lower than the 1,127 CEO departures January […]

ECB Lowers Benchmark Lending Rate

FRANKFURT, Germany, Dec. 8 (UPI) — The European Central Bank said it would lower its key lending rate from 1.25 percent to 1 percent to add liquidity to the economy. The expected move reverses the bank’s mid-summer interest rate hike, which was enacted as the economic upturn in the early months of the year was […]

First-Time Jobless Claims Drop By 23,000

WASHINGTON, Dec. 8 (UPI) — First-time jobless benefit claims fell by 23,000 in the week ended Saturday with 381,000 claims filed, the U.S. Labor Department said. It was eighth weekly decline in the past nine weeks. The four-week rolling average for first-time claims filed as of Saturday was 393,250, down 3,000 from the previous revised […]

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 […]

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