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Factory Orders Rose In July

WASHINGTON, Aug. 31 (UPI) — U.S. factory orders rose 2.4 percent in July, far higher than economists expected, the U.S. Census Bureau reported Wednesday. Economists had expected factory orders to rise 1.5 percent. Orders have risen for two of the past three months. In July, orders jumped by $10.5 billion to $453.2 billion. Excluding transportation […]

Mortgage Activity Down In Week

WASHINGTON, Aug. 31 (UPI) — The Mortgage Bankers Association says U.S. mortgage activity fell in the week ended last Friday as mortgage costs were little changed. Interest rates for 30-year, fixed-rate mortgages fell from 4.39 percent to 4.32 percent with points rising from 0.88 to 1.03. Rates for 15-year, fixed-rate contracts fell from 3.56 percent […]

Nature Sent Shoppers Toward The Basics

WASHINGTON, Aug. 31 (UPI) — U.S. shoppers spent money on staples as an earthquake and hurricane altered the retail week, a trade group in Washington said. Retail sales rose marginally in the week ended last Saturday, the International Council of Shopping Centers said. Sales rose 0.1 percent from the previous week and 3 percent from […]

Home Values Saved One Demolition At A Time

CLEVELAND, Aug. 29 (UPI) — U.S. lenders say protecting a home is one thing and protecting home values another, so they are calling in bulldozers to make their point. “We want to make loans on an ongoing basis, and to do so, we need stable to rising home values,” said Russ Cross, vice president of […]

Target’s Canada Expansion Creating Jobs

TORONTO, Aug. 30 (UPI) — U.S. retailing giant Target launched an online search for thousands of Canadian employees for its launch of 135 new stores in 19 months. Target Canada, with headquarters west of Toronto in Mississauga, opened the www.target.ca/careers Web site Monday, featuring openings for mostly senior positions such as human-resource managers and business […]

U.S. Home Prices Up Quarter To Quarter

NEW YORK, Aug. 30 (UPI) — U.S. home prices rose from the first quarter of 2011 to the second, but remain down on an annual basis, a closely watched housing index showed Tuesday. The Standard & Poor’s/Case-Shiller Home Price Index found prices rose 3.6 percent from the first quarter after dropping 4.1 percent from the […]

Consumer Confidence Slides Hard In August

NEW YORK, Aug. 30 (UPI) — Consumer confidence in the United States hit the lowest point in more than two years in August, the Conference Board said Tuesday. “Consumer confidence deteriorated sharply in August, as consumers grew significantly more pessimistic about the short-term outlook,” Lynn Franco, director of The Conference Board Consumer Research Center, said […]

Court Approves Lehman Brothers’ Exit Plan

NEW YORK, Aug. 30 (UPI) — A bankruptcy court judge in New York praised attorneys involved and approved a plan to return $65 billion to Lehman Brothers’ creditors. There are 110,000 creditors involved in the Lehman Brothers case. They will have 60 days to vote on the plan that Judge James Peck said included work […]

Obama Taps Krueger To Lead Economic Panel

WASHINGTON, Aug. 29 (UPI) — President Obama announced Monday that Alan Krueger was his choice to succeed Austan Goolsbee to lead the Council of Economic Advisers. “Alan brings a wealth of experience to the job [and is] one of one of nation’s leading economists,” Obama said. If confirmed by the U.S. Senate, Krueger will continue […]

Consumer Spending In July Up 0.8 Percent

WASHINGTON, Aug. 29 (UPI) — Consumer spending rose 0.8 percent in July after falling 0.1 percent in June, the Commerce Department’s Bureau of Economic Analysis said Monday. Consumer spending is often cited as representing 70 percent of the nation’s gross domestic product, making the figure a critical economic indicator. June’s decline had been the first […]

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