New Jobless Claims Highest in Over Two Years
Washington, DC, January 31, 2008--New claims for unemployment benefits increased by a much larger-than-expected 69,000 last week to the highest level in more than two years, the Labor Department reported.
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Fed Slashes Key Interest Rate By Half Point
Washington, DC, January 30, 2008--The Federal Reserve on Wednesday cut a key interest rate by half a point, the second cut in a little more than a week.
Most Commercial Real Estate Execs Still Upbeat
Washington, DC, January 30, 2008--Despite worries over the contraction of financial markets, most U.S. real estate executives believe industry fundamentals are solid.
Online Employment Index Falls in January
New York, NY, January 31, 2008--The Monster Employment Index fell nine points in January, extending a three-month downward trend and indicating further moderation in U.S. online recruitment activity.
Pulte Follows Other Builders With Massive Loss
Detroit, MI, January 30, 2008--Pulte Homes Inc. posted a loss of $874.7 million for the fourth quarter as the housing market continued to deteriorate.
Private Employment Grows Over Last Month
Roseland, NJ, Wednesday, January 30, 2008--Nonfarm private employment grew 130,000 from December 2007 to January of 2008 on a seasonally adjusted basis, according to the ADP National Employment Report.
Milliken CEO Ashley To Retire in May
Spartanburg, SC, January 29, 2008—Milliken & Co. CEO Ashley Allen will retire May 1 following his 65th birthday.
GDP Falls Sharply in Fourth Quarter
Washington, DC, January 30, 2008--The U.S. economy grew at a 0.6% annual rate in the fourth quarter, the weakest growth since 2002, the Commerce Department reported Wednesday.
Solutia To Pay For Contamination Cleanup
St. Louis, MO, January 30, 2008—Solutia Inc. will likely pay the Environmental Protection Agency about $3 million for the cleanup of contaminated chemical barrels that once polluted an industrial site north of downtown St. Louis.
Home Refinancing Continues To Surge
Washington, DC, January 30, 2008--Mortgage application volume rose 7.5% during the week ended Jan. 25 thanks to a continuing surge in refinancing activity, according to the Mortgage Bankers Association's weekly survey.