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Shopping Slow After East Coast Hurricane

WASHINGTON, Sept. 7 (UPI) — Retail sales receipts slid 0.7 percent in the week ending last Sunday, a U.S. trade group said Wednesday. In a weekly report pushed back a day due to the Labor Day holiday, the International Council of Shopping Centers said fewer consumers traveling during the holiday weekend could have resulted in […]

Bank Of Canada Holds Central Rate At 1 Percent

OTTAWA, Sept. 7 (UPI) — Continuing economic uncertainty in the United States and Europe led the Bank of Canada to announce Wednesday its central rate would remain at 1 percent. “The European sovereign debt crisis has intensified, a broad range of data has signaled slower global growth, and financial market volatility has increased sharply,” the […]

Canada To Probe U.S. Retail Pricing Gap

OTTAWA, Sept. 7 (UPI) — A Canadian Senate committee will investigate the practice of U.S. retailers charging more in Canada for the same goods, the Toronto Star reported. The newspaper saw a letter from Finance Minister Jim Flaherty in which he said he will ask the Senate Committee on National Finance to examine the pricing […]

Employment, Unemployment Data Unchanged

WASHINGTON, Sept. 2 (UPI) — Non-farm employment was unchanged in August and the unemployment rate held at 9.1 percent, the U.S. Bureau of Labor Statistics reported Friday. At 14.0 million, the number of unemployed persons essentially was unchanged in August and the 9.1 percent unemployment has shown little change since April, the Labor Department agency […]

Government Prepares To Sue Banks Over Mortgages

WASHINGTON, Sept. 2 (UPI) — The federal government will sue a dozen U.S. banks, charging they misrepresented the quality of mortgage securities sold in the housing bubble, insiders said. The Federal Housing Finance Agency lawsuits, expected to be filed soon in federal court, target Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among […]

Group: Lack Of Jobs Threatens Dreams

WASHINGTON, Sept. 2 (UPI) — The lack of job growth, as evidenced by the August unemployment report, threatens the future of young Americans, Generation Opportunity said Friday. The Department of Labor said no new jobs were added in August and the unemployment rate remained at 9.1 percent. “Young Americans watched and waited patiently for elected […]

Spanish Lawmakers Vote To Restrict Debt

MADRID, Sept. 2 (UPI) — The lower chamber of Spain’s Parliament approved a constitutional amendment that would restrict future budget deficits and public debt Friday. Spanish deputies approved the change by a 316-5 vote, with leftist and most regional nationalist parties either not voting or walking out, the Financial Times reported. “Not doing this would […]

Britain’s New-Start Construction Off

LONDON, Sept. 2 (UPI) — New construction orders in Britain were down for the second quarter, led by cuts to school construction and a static house-building market, officials said. The Office for National Statistics reported new orders were 16.3 percent lower in the second quarter and 23.2 percent lower than in the same period last […]

Initial Jobless Claims Fall

WASHINGTON, Sept. 1 (UPI) — First-time jobless claims filed for the week ending Aug. 27 was 409,000, down 12,000 from the previous week, the U.S. Labor Department said Thursday. The previous week’s first-time claims number of was revised upward to 421,000 from 417,000 originally reported. Thursday’s report indicated the number of continuing unemployment benefit claims […]

U.S. Manufacturing Index Expands In August

TEMPE, Ariz., Sept. 1 (UPI) — U.S. manufacturing grew in August for the 25th consecutive month and the overall economy grew for the 27th straight month, supply executives said Thursday. The latest Manufacturing ISM Report On Business registered 50.6 percent, a 0.3 percent dip from July, but still an overall expansion in the manufacturing sector, […]

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