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USPS Study Says Slower Deliveries Might Work

WASHINGTON, Aug. 24 (UPI) — A study says the U.S. Postal Service could save a bundle if it just took its time delivering first class and Priority Mail. Officials from the mail service said new schedules could be announced just after Labor Day, based on a study that said the USPS could save $1.5 billion […]

Report: China Trade Balance Likely In 2012

BEIJING, Aug. 23 (UPI) — China’s trade surplus may drop to $100 billion this year from last year’s $183 billion as imports rise and exports weaken, a trade expert said. There could even be a trade balance in 2012, China Daily reported Tuesday, quoting Wei Jianguo, secretary-general of the think tank China Center for International […]

Ex-Moody’s Exec: Ratings Agencies Corrupt

WASHINGTON, Aug. 23 (UPI) — U.S. credit-ratings agencies have conflicts of interest because they’re paid by firms they’re supposed to rate neutrally, an ex-Moody’s Corp. executive said. “This conflict of interest permeates all levels of employment, from entry-level analyst to the chairman and chief executive officer of Moody’s Corp.,” William Harrington, a former Moody’s Investors […]

Retail Sees Slight Drop Week-To-Week

WASHINGTON, Aug. 23 (UPI) — Retail sales slid 1 percent in the week ending last Saturday with traffic down at U.S. discount stores, a trade group said Tuesday. The International Council of Shopping Centers said sales fell week-to-week, but rose 3 percent compared to the same week a year earlier. Apparel stores showed some “improvement […]

UBS Joins Bank Trend Of Layoffs

ZURICH, Switzerland, Aug. 23 (UPI) — Swiss bank UBS said a cost-trimming effort would result in the loss of 3,500 jobs in the next 30 months. The bank said it would take on a one-time charge of about $698 million connected to the layoffs, which it would put on its books this year, The New […]

Chinese Economist: ‘No Double-Dip Trend’

BEIJING, Aug. 22 (UPI) — There is no trend of a double-dip recession in the world economy, a senior Chinese economist told the annual China Bankers Forum 2011 in Beijing. Fan Gang, a former adviser to the Chinese central bank’s monetary policy committee, also said the turmoil in Western markets will not affect emerging economies […]

The Politics Of Outsourcing

WASHINGTON, Aug. 22 (UPI) — Some of the nation’s biggest corporations are not up front about where their workforce lives because of politics, the head of a major U.S. trade group said. Scott Paul, executive director of the Alliance for American Manufacturing said, “outsourcing has become a major lightening rod, and the media coverage they’re […]

Bloom Says Auto Bailout Was Needed

WASHINGTON, Aug. 22 (UPI) — White House consultant Ron Bloom said the U.S. automobile industry is healthier than expected with two of Detroit’s big firms having gone through bankruptcy. “The results are better than we had forecast. … The companies have done a better job on the cost side, on the product side, and on […]

Segway Owner Leaves $600 Million To Wife

LEEDS, England, Aug. 20 (UPI) — The late owner of Segway scooters left more than $600 million to his wife and family, attorneys for his estate in the United Kingdom said. Jimi Heselden, 62, died when he accidentally drove one of the computerized two-wheeled people movers over a cliff and into the River Wharfe last […]

Pawnshops See Weird On The Rise

DETROIT, Aug. 20 (UPI) — Pawn shop owners in Michigan say that tough times brings out stranger items that customers want to sell. “With people being so desperate, they bring in anything hoping to get something,” said Rick Green, manager of Highland Park pawn shop Aaron’s Jewelry and Loan Inc. “People are desperate,” echoed Susie […]

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