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House Panel Subpoenas Corzine On MF Global

WASHINGTON, Dec. 2 (UPI) — A U.S. House committee voted Friday to subpoena former New Jersey Gov. Jon Corzine to appear at a hearing on the collapse of the brokerage firm he once ran. The House Agriculture Committee agreed Friday to subpoena Corzine to appear before lawmakers to discuss MF Global’s bankruptcy, one of the […]

Unemployment Drops To 8.6 Percent

WASHINGTON, Dec. 2 (UPI) — The Labor Department said Friday the U.S. unemployment rate dropped to 8.6 percent in November, the lowest level in 2 1/2 years. The rate came down from 9 percent. The U.S. economy added 120,000 jobs in November, the report said. “Despite some strong headwinds this year, the American economy has […]

Beige Book Points Out Slow Gains

WASHINGTON, Nov. 30 (UPI) — The Federal Reserve said the U.S. economy has shown “slow to moderate” gains since mid-October. In the Fed’s periodic summary of the U.S. economy, known as the Beige Book report, the central bank said “overall economic activity increased at a slow to moderate pace since the previous report.” In recent […]

Mortgage Activity Down In Week

WASHINGTON, Nov. 30 (UPI) — The Mortgage Bankers Association said U.S. mortgage activity fell 11.7 percent in the week ended Friday with long-term mortgage interest rates little changed. Interest rates for 30-year, fixed-rate mortgages fell from 4.23 percent to 4.21 percent with points rising from 0.46 to 0.49, the trade group said. Rates for 15-year, […]

First-Time Jobless Claims Rise By 6,000

WASHINGTON, Dec. 1 (UPI) — First-time jobless benefit claims rose by 6,000 in the week ended Saturday with 402,000 claims filed, the U.S. Labor Department said. It was first weekly rise after seven consecutive weeks of declines. The four-week rolling average for first-time claims filed as of Saturday was 395,750, up 500 from the previous […]

U.S. Manufacturing Up 28 Months

TEMPE, Ariz., Dec. 1 (UPI) — U.S. manufacturing activity made gains in November with the pace picking up from the previous month, the Institute of Supply Management said Thursday. The headline index (the Purchasing Managers’ Index) rose from 50.8 in October to 52.7, the institute said. Numbers above 50 indicate growth. Below 50 indicates a […]

Construction Spending Up Slightly

WASHINGTON, Dec. 1 (UPI) — Construction spending for October was 0.8 percent above September’s revised estimate of $792.1 billion, the U.S. Census Bureau reported Thursday. Spending on private and public projects for September reached $798.5 billion, the monthly construction spending report said. Spending for October came in 0.4 percent below October 2010, when spending came […]

Facebook Thinking Big For IPO

PALO ALTO, Calif., Nov. 29 (UPI) — Facebook Inc. is exploring an April to June initial public offering that could value the U.S. company at $100 million, sources told The Wall Street Journal. Sources have warned that Facebook Chief Executive Officer Mark Zuckerberg has not made any final decisions in an IPO offering. “We’re not […]

Google Map Service Heads Indoors

MOUNTAIN VIEW, D.C., Nov. 29 (UPI) — Where maps are available, U.S. Internet giant Google said it will offer a service to help pedestrians get their bearings indoors. The Tuesday launch of “My Location,” allows consumers with a mobile device outfitted with Google Maps 6.0 for Android to download maps of shopping malls, airports and […]

Bankrupt American Airlines To Keep Flying

FORT WORTH, Texas, Nov. 29 (UPI) — AMR Corp., the parent of American Airlines and American Eagle, said the carriers will keep flying despite landing in Chapter 11 bankruptcy in New York Tuesday. AMR, based in Fort Worth, Texas, said its board of directors determined a Chapter 11 reorganization was in the best interest of […]


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