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Gifts: Substance Over Show This Christmas

STEVENS, Pa., Dec. 5 (UPI) — Occupy Wall Street has affected the political dialogue on finance and it could affect what people buy as gifts this year, a U.S. marketing expert says. Pam Danziger, president of Unity Marketing and author of “Putting the Luxe Back in Luxury,” said this Christmas will be one for substance […]

Service Industries Show Slower Growth

TEMPE, Ariz., Dec. 5 (UPI) — Business activity in U.S. service industries grew in November for the 24th consecutive month, the Institute for Supply Management said Monday. The pace of growth slowed from October, when the headline Purchasing Managers Index was 52.9. In November, the PMI fell to 52 even. The index uses 50 as […]

Factory Orders Slide

WASHINGTON, Dec. 5 (UPI) — U.S. factory orders fell in September and October, the U.S. Census Bureau reported Monday. Factory orders fell 0.4 in October, in line with expectations. In Monday’s report, however, the bureau revised September’s 0.3 percent rise to a 0.1 percent decline. New orders turned slightly higher, up 0.1 percent with defense […]

Chinese Drywall Firm Implicated By Default

NORFOLK BEACH, Va., Dec. 1 (UPI) — A judge in Virginia said the Chinese company implicated in a pernicious drywall case chose not to respond to charges, risking a default judgment. While the company’s attorneys claimed it was not clear whether local courts had jurisdiction over the case, Judge Patricia West said the company, Taishan […]

Eight Countries Oppose Extended EU Relief

BRUSSELS, Dec. 2 (UPI) — A group of countries, led by Germany, said they are against the European Union extending an emergency aid program for laid-off workers. In 2009, the EU reduced the eligibility threshold for laid-off worker aid from 1,000 to 500 redundancies and extended the period of funding for laid-off worker relief from […]

Justice Department Clears Google-Admeld Merger

WASHINGTON, Dec. 2 (UPI) — The U.S. Justice Department Friday cleared Google’s $400 million acquisition of Admeld Inc., saying the merger likely wouldn’t lessen digital ad competition. “After a thorough review of the evidence, the [Antitrust Division] concluded that the transaction is not likely to substantially lessen competition in the sale of display advertising,” the […]

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, […]

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