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Business


Sales Climb Beyond Expectations

WASHINGTON, Oct. 14 (UPI) — Retail sales rose more than twice the rate expected from August to September, the U.S. Census Bureau reported Friday. Retail sales, including food service sales, adjusted for seasonal variations but not for prices, rose 1.1 percent to reach $395.5 billion, up 1.1 percent from the previous month. Economists expected sales […]

U.S. Inventories Rose In August

WASHINGTON, Oct. 14 (UPI) — Manufacturing and trade business inventories rose 0.5 percent in August, ahead of the consensus forecast, the U.S. Commerce Department said Friday. Economists had expected a 0.3 percent rise. Inventories rose to $1.53 trillion, a 10.5 percent increase from a year earlier. Trade sales and manufacturers’ shipments rose 0.3 percent from […]

Wozniak, Apple Co-Founder, Waits In Line

LOS GATOS, Calif., Oct. 14 (UPI) — The co-founder of Apple Inc., Steve Wozniak, knew where he wanted to be this week, waiting in line at an Apple store in California to buy an iPhone 4S. Like thousands of Apple fans across the country and around the world, Wozniak has chosen for several product launches […]

Solyndra CEO Resigns

FREMONT, Calif., Oct. 13 (UPI) — Brian Harrison, chief executive officer for solar energy firm Solyndra has resigned, court papers filed in Delaware said. In bankruptcy court amid controversy over the $535 million in government loan guarantees that failed to keep the company solvent, official filings say Harrison resigned last week, CNNMoney reported Thursday. The […]

Jobless Claims Drop Slightly

WASHINGTON, Oct. 13 (UPI) — First-time jobless benefit claims declined by 1,000 in the week ending Saturday with 404,000 claims filed, the U.S. Labor Department said Thursday. The four-week rolling average for claims filed was 408,000, down 7,000 from the previous revised average, the department said. In September, the unemployment rate was 9.1 percent, unchanged […]

Trade Deficit Steady At $45.6 Billion

WASHINGTON, Oct. 13 (UPI) — The U.S. international trade deficit held steady in August at $45.6 billion, the U.S. Census Bureau said Thursday. The figure was “virtually unchanged” from July’s revised deficit figure, the bureau said. For August, exports totaled $177.6 billion, while imports totaled $223.2 billion. Exported goods dropped by $100 million to $126.7 […]

Long-Term Mortgage Rates Rise

WASHINGTON, Oct. 13 (UPI) — Long-term mortgage rates rose off of historic lows in the week ending Thursday, the U.S. Federal Home Loan Mortgage Corp. said. Freddie Mac said the average interest rates for 30-year, fixed-rate loans rose from 3.94 percent to 4.12 percent with an average of 0.8 points for the week. A year […]

Foreclosures Simmering, Firm Says

IRVING, Calif., Oct. 13 (UPI) — U.S. foreclosure activity and default notices affected one of every 213 homes in the third quarter, a private real estate firm said Thursday. RealtyTrac, an online marketplace for foreclosed properties, said foreclosure activity rose less than 1 percent from quarter to quarter and dropped 34 percent from the third […]

GAO Challenges USPS Finance Plan

WASHINGTON, Oct. 13 (UPI) — A non-partisan government office said labor costs, not over-payments to pension funds, is at the heart of the budget problems at the U.S. Postal Services. The Government Accountability Office said, “We have not found any evidence of error of these types,” referring to over-payments that two independent audits, the Postal […]

Mortgage Activity Up Slightly

WASHINGTON, Oct. 12 (UPI) — The Mortgage Bankers Association said U.S. mortgage activity rose slightly in the week ended Friday with long-term mortgage interest rates higher. Interest rates for 30-year, fixed-rate mortgages rose in the week from 4.18 percent to 4.25 percent with points rising from 0.44 to 0.47, the trade group said. Rates for […]

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