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Trade Deficit Steady At $45.6 Billion

WASHINGTON, Oct. 13 (UPI) — The U.S. international trade deficit held steady in August at $45.6 billion, the U.S. Census Bureau said Thursday. The figure was “virtually unchanged” from July’s revised deficit figure, the bureau said. For August, exports totaled $177.6 billion, while imports totaled $223.2 billion. Exported goods dropped by $100 million to $126.7 […]

Long-Term Mortgage Rates Rise

WASHINGTON, Oct. 13 (UPI) — Long-term mortgage rates rose off of historic lows in the week ending Thursday, the U.S. Federal Home Loan Mortgage Corp. said. Freddie Mac said the average interest rates for 30-year, fixed-rate loans rose from 3.94 percent to 4.12 percent with an average of 0.8 points for the week. A year […]

Foreclosures Simmering, Firm Says

IRVING, Calif., Oct. 13 (UPI) — U.S. foreclosure activity and default notices affected one of every 213 homes in the third quarter, a private real estate firm said Thursday. RealtyTrac, an online marketplace for foreclosed properties, said foreclosure activity rose less than 1 percent from quarter to quarter and dropped 34 percent from the third […]

GAO Challenges USPS Finance Plan

WASHINGTON, Oct. 13 (UPI) — A non-partisan government office said labor costs, not over-payments to pension funds, is at the heart of the budget problems at the U.S. Postal Services. The Government Accountability Office said, “We have not found any evidence of error of these types,” referring to over-payments that two independent audits, the Postal […]

Mortgage Activity Up Slightly

WASHINGTON, Oct. 12 (UPI) — The Mortgage Bankers Association said U.S. mortgage activity rose slightly in the week ended Friday with long-term mortgage interest rates higher. Interest rates for 30-year, fixed-rate mortgages rose in the week from 4.18 percent to 4.25 percent with points rising from 0.44 to 0.47, the trade group said. Rates for […]

GM To Bring Spark To U.S. Showrooms

DETROIT, Oct. 12 (UPI) — General Motors Co. said Wednesday an electric-powered Chevrolet Spark will be available in U.S. showrooms in 2013. The all-electric version of the Spark is expected to find an audience in congested cities, The Detroit News reported. The Spark is currently available in Europe and elsewhere, but not in the United […]

Report: Bioterrorism Still A Major Threat

WASHINGTON, Oct. 12 (UPI) — Bioterrorism remains a major threat for the United States despite more than $65 billion spent on protecting the country from myriad dangers, the Bipartisan WMD Terrorism Research Center said in its latest report Wednesday. The center’s Bio-Response Report Card evaluated U.S. preparedness for countering threats from bioterrorism and found the […]

Huelskamp Unappeased By Buffett’s Numbers

WASHINGTON, Oct. 12 (UPI) — Billionaire investor Warren Buffett revealed Wednesday he paid 17.4 percent of his $39.8 billion taxable income to the federal government in 2010. In a letter sent to Republican Rep. Tim Huelskamp of Kansas, Buffett said his adjusted gross income for 2010 came to $62.8 billion, CNNMoney reported. The letter was […]

Robert Galvin Of Motorola Dead At 89

CHICAGO, Oct. 12 (UPI) — Robert Galvin, who led Motorola from 1959 to 1990, guiding the firm through an era of tremendous growth, has died at age 89, his family said. The Chicago Tribune reported that Galvin “passed away,” Tuesday night without listing a specific cause of death. Galvin took over the company from his […]

Consumer Confidence Low, But Rising

RAMSEY, N.J., Oct. 11 (UPI) — U.S. consumer confidence showed pessimism deeply ingrained at the start of October, a private research group said. But the pessimism was not quite as entrenched as it was in September, as the IBD/TIPP Economic Index rose 0.4 points or 1 percent to 40.3 in October, Investor’s Business Daily said […]

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