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July Retail Up Higher Than Expected

WASHINGTON, Aug. 12 (UPI) — Retail sales in July rose a slim 0.5 percent, one tick higher than expected, the U.S. Census Bureau reported Friday. Retail sales, including food service sales, adjusted for seasonal variations but not for prices, were $390.4 billion, an 8.5 percent increase from July 2010, the bureau said in a release. […]

U.S. Trade Gap Jumps By $2.3 Billion

WASHINGTON, Aug. 11 (UPI) — The U.S. international trade deficit rose to $53.1 billion in June, up from an upwardly revised $50.8 billion in May, the U.S. Census Bureau said Thursday. The previous estimate for May was $50.2 billion. For June, exports totaled $170.9 billion, while imports totaled $223.9 billion. Exports, at $170.9 billion, were […]

Canadian Trade Deficit Widens In June

OTTAWA, Aug. 11 (UPI) — Canada’s international trade deficit widened to $1.6 billion in June with a 1.7 percent decrease in exports, Statistics Canada reported from Ottawa Thursday. “Exports fell to $36.5 billion, largely the result of declines in energy products and automotive products,” the agency said. “Exports of energy products declined 5.1 percent to […]

China Trade Surplus Soars To $31.5B

BEIJING, Aug. 11 (UPI) — China’s July trade surplus of $31.5 billion eased fears the problems in the U.S. economy and European debt crisis might hit Chinese exports, experts said. The July surplus was the highest in 30 months and resulted from higher-than-expected export growth, especially to the European Union, the government said. Officials and […]

Capital One To Expand With $2.6B HSBC Deal

MCLEAN, Va., Aug. 10 (UPI) — Capital One Financial said Wednesday it had agreed to buy the U.S. credit card division from HSBC for about $2.6 billion in a cash and stock deal. The deal is not expected to close until the second quarter of 2012, Capital One said in a statement. The firm said […]

Double-dip Could Squeeze Farmers

WEST LAFAYETTE, Ind., Aug. 10 (UPI) — Purdue University agriculture economist Mike Boehje said a second U.S. recession could disrupt demand enough to squeeze profits out of livestock farming. “A situation like that certainly has the potential to take the profitability out of livestock production,” he said, pointing out that farmers are vulnerable to a […]

Wholesale Inventories Rose In June

WASHINGTON, Aug. 10 (UPI) — U.S. wholesale inventories rose 0.6 percent in June following a downwardly revised level for May, the Commerce Department said Wednesday. The June increase to a seasonally adjusted $458.7 billion put inventories 15.8 percent higher than June 2010. May’s inventory level was revised down by $200 million, which dropped the estimated […]

Refinancing Surges In Week

WASHINGTON, Aug. 10 (UPI) — The Mortgage Bankers Association said U.S. mortgage activity increased dramatically in the week ending last Friday as interest rates fell. Interest rates for 30-year, fixed-rate mortgages dropped from 4.45 percent to 4.37 percent with points increasing from 0.78 to 1.07. Rates for 15-year, fixed-rate contracts were unchanged at 3.52 percent […]

Crude Oil Holds Under $81 Per Barrel

NEW YORK, Aug. 10 (UPI) — Crude oil prices in New York held under $81 per barrel as a second major energy organization in the week warned world demand was weakening. The Organization of Petroleum Exporting Countries Tuesday predicted global demand would drop by 150,000 barrels per day compared to previous 2011 estimates. On Wednesday, […]

Euro, Asian Markets Rebound After Fed Move

NEW YORK, Aug. 10 (UPI) — European and Asian stocks rebounded Wednesday before Wall Street’s opening bell on a Federal Reserve pledge to keep U.S. interest rates near zero for two years. British, German and French stock indexes rose more than 2 percent in early-morning trading following a “relief rally” in Asian markets. In late-afternoon […]

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