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Unions File To Push Saab Into Bankruptcy

TROLLHATTAN, Sweden, Sept. 12 (UPI) — A labor union leader in Sweden said a petition to have automaker Saab declared bankrupt does not mean the firm is out of the carmaking business. “The bankruptcy doesn’t in any way get in the way of a future economic solution, which may come,” said Unionen Chairwoman Cecilia Fahlberg, […]

China’s August Trade Surplus Dips To $17.8 Billion

BEIJING, Sept. 12 (UPI) — China’s trade surplus in August shrank to $17.75 billion from July’s $31.5 billion, largely because of higher imports, the government said. The July surplus, however, was the highest in 2 1/2 years despite the global economic doldrums, China Daily reported. The government said while slowing global demand is pinching China’s […]

McGraw-Hill To Split Itself In Two

NEW YORK, Sept. 12 (UPI) — New York publishing giant McGraw-Hill said Monday it would split into two independent companies — one focused on markets and the other on education. McGraw-Hill, which divested itself of broadcasting assets this summer, said one company would operate Standard & Poor’s — both the index and the credit rating […]

Bank Of America To Cut Costs By $5 Billion

NEW YORK, Sept. 12 (UPI) — Bank of America Chief Executive Officer Brian Moynihan said Monday the bank, largest in the United States, would trim annual costs by $5 billion. Moynihan, speaking at an investors’ conference, said the bank would trade size for value, The New York Times reported. “We do not have to be […]

U.S. Trade Deficit Shrinks

WASHINGTON, Sept. 8 (UPI) — U.S. international trade shifted from a revised $51.6 billion deficit in June, to $44.8 billion in July, the U.S. Census Bureau said Thursday. For July, exports rose $6.2 billion to $178 billion, while imports fell $.5 billion to $222.8 billion. Exports of goods rose $5.7 billion to $126.9 billion in […]

Jobless Claims Rise By 2,000

WASHINGTON, Sept. 8 (UPI) — First-time jobless benefit claims rose by 2,000 in the week ending Saturday with 414,000 claims filed, the U.S. Labor Department said. The four-week rolling average for claims filed was 414,750, up 3,750 from the previous revised average, the department said Thursday. In August, the unemployment rate was 9.1 percent, unchanged […]

Mortgage Activity Down In Week

WASHINGTON, Sept. 8 (UPI) — The Mortgage Bankers Association says U.S. mortgage activity fell in the week ended Friday with mortgage rates also falling. Interest rates for 30-year, fixed-rate mortgages fell from 4.32 percent to 4.23 percent with points falling from 1.29 to 1.04. Rates for 15-year, fixed-rate contracts fell from 3.49 percent to 3.41 […]

FBI Raids Bankrupt Solar Company Near San Francisco

FREMONT, Calif., Sept. 8 (UPI) — The FBI declined to say what its agents were looking for Thursday when they searched offices of a bankrupt solar-panel company in the San Francisco Bay Area. A squad of agents armed with a search warrant and accompanied by agents from the Department of Energy showed up at the […]

SEC Halts Record Purging

WASHINGTON, Sept. 8 (UPI) — The Securities and Exchange Commission general counsel Mark Cahn has told SEC staff to stop destroying case records following accusations of illegal purging. Cahn sent a memo to staff informing them of the new policy in the wake of an accusation the SEC was illegally destroying records that could point […]

Top Office Turnover Steady In August

CHICAGO, Sept. 7 (UPI) — The total number of U.S. top corporate executive departures held steady in August, one celebrity notwithstanding, a private research group said Wednesday. In August, 104 chief executive officers left their jobs, either through resignation, job change, firing or job title elimination, consulting firm Challenger, Gray & Christmas said. The number […]

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