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Drop in jobless rate sparks optimism

Published on 8 Dec, 2009 at 15:58 in Business | Viewed 108 views times | No Comments

An unexpected drop in the unemployment rate and in job losses in November excited investors Friday and raised hopes for a sustained economic recovery and provided a rare dose of good news for a labor market that has seen 7.2 million job losses in the last two years. Last month, as employers reportedly cut the

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US services sector makes unexpected decline

Published on 8 Dec, 2009 at 15:57 in Business | Viewed 86 views times | No Comments

The bulk of the world’s largest economy, the US services sector, dropped in November after two months of growth amid a budding recovery from recession, according to a private survey released Thursday. The Institute of Supply Management said its non-manufacturing index dropped to 48.7 percent last month, 1.9 percentage points lower than the 50.6 percent

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Comcast to acquire majority stake in NBC Universal

Published on 8 Dec, 2009 at 15:56 in Business | Viewed 78 views times | No Comments

Comcast announced on Thursday that it plans to buy a majority stake in NBC Universal from General Electric, a move that would add to the US cable giant’s empire. Comcast will control 51 percent of NBC Universal, along with GE (which owned 80 percent) retaining the other 49 percent. France’s Vivendi is selling its 20-percent

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US company finds new gas near Libya

Published on 8 Dec, 2009 at 15:55 in Business | Viewed 104 views times | No Comments

The US petroleum firm Hess recently found new gas deposits off the Libyan coast in the Gulf of Sirte, Libya’s National Oil Corp (NOC) announced on Thursday. According to a statement from Hess, tests carried out by the company indicate an output of “27 million cubic feet (756,000 cubic metres) of good quality gas.” Hess

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Bullet sales on the rise in U.S.

Published on 3 Nov, 2009 at 22:29 in Business, Politics | Viewed 98 views times | No Comments

In a time of increased financial uncertainty – stemming from a dismal job market, a crumbling economy and government skepticism – Americans are spending record amounts of money on guns and ammunition, creating shortages in some places over the past year. Bullets are in such high demand that, at some points during the past year,

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Cash for Clunkers generates 700,000 new car sales

Published on 3 Nov, 2009 at 22:05 in Business | Viewed 156 views times | No Comments
Cash for Clunkers generates 700,000 new car sales

WASHINGTON — The U.S. Transportation Department says the popular Cash for Clunkers program generated nearly 700,000 new car sales and came under the $3 billion budget for the monthlong program. The government said Wednesday dealers submitted 690,114 vouchers totaling $2.88 billion in the program, which ended Tuesday. Japanese automakers Toyota ( TM – news –

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Corporate Bonds Are Overpriced

Published on 3 Nov, 2009 at 22:03 in Business | Viewed 96 views times | No Comments
Corporate Bonds Are Overpriced

Matthew Craft The rally in corporate credit has lifted the fortunes of all types of companies, including many that are closely tied to economic growth. That’s good news for them: higher bond prices make it easier to refinance debt and stay in business. But with certain bonds now fetching $1.20 on the dollar or even

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What Advertisers Will Pay For On News Sites

Published on 3 Nov, 2009 at 22:02 in Business | Viewed 135 views times | No Comments
What Advertisers Will Pay For On News Sites

LOS ANGELES — On the Web, newspapers and magazines sell advertising products quite similar to the ads they peddle in print. Publishers typically sell advertisers on the notion that they can build their brands simply by plastering marketing messages next to high-quality articles, photos and videos. Over the past several years, many advertisers have bought

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Dell sees stronger second half

Published on 3 Nov, 2009 at 21:04 in Business | Viewed 88 views times | No Comments
Dell sees stronger second half

NEW YORK (CNNMoney.com) — Dell reported earnings that beat analysts’ estimates Thursday and said it expects stronger sales in the second half of the year, sending shares of the world’s second-largest PC maker up 5% after hours. The company said second-quarter net income fell 23% to $472 million, or 24 cents per share, from $616

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While U.S. consumer spending rises unemployment jumps, too

Published on 3 Nov, 2009 at 19:47 in Business, Politics | Viewed 85 views times | No Comments

Although Americans’ spending rose last month at its fastest pace in nearly 8 years, the number of new claims for jobless benefits rose last week, indicating a weak labor market would weigh on economic recovery. For the fourth straight month U.S. spending was up, jumping 1.3 percent in August after rising a meager 0.3 percent

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