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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 01, 2012
Page
5
The Conference Board reports the Consumer Confidence Index rose to 65.9 in July from 62.7 in June, the first gain in five months and the highest reading since April. Yet the index remains far below the 90 level associated with a healthy economy, far from the recession low in February 2009.
Washington reports May prices higher than April in all 20 cities on the S P Case Shiller index signaling a modest recovery. National prices rose 2.2 percent month to month marking the second rise after seven months of flat or falling readings. Chicago Atlanta and San Francisco led monthly gains with Phoenix posting the strongest yearly increase.
The FCC accepted a 1.25 million settlement from Verizon Wireless resolving a probe into whether Verizon charged tethering fees twice. Verizon said tethering users consumed more data, yet charged customers who paid by usage again for the same service.
Boeing, one of the world's largest jetliner makers, estimates 460000 new pilots are required globally through 2031 as economies grow and more airliners enter service. North America accounts for 69000 pilots, with Asia Pacific leading growth at about 185600.
Iowa Attorney General Miller said Action Point of Phoenix falsely claimed its callers were disabled veterans from Iraq and Vietnam to persuade seniors to buy high priced goods. The court injunction blocks further calls, orders refunds, and fees, while warning about charity fraud risks.
HP faces a multi year turnaround under new CEO Meg Whitman as profits stagnate, shares fall, and the PC business loses ground to mobile devices. She slashes 27000 jobs, reorganizes divisions, and aims to reinvest savings into security, data analytics, and Internet products while awaiting execution to restore investor confidence.
Washington AP reports top central bankers pledge to rescue Europe and the United States economies. The Fed faces a two day policy meeting and Draghi promises to do whatever it takes while markets eye large scale bond buys. Economic indicators show euro area unemployment at 11.2 percent and IMF forecasts a 0.3 percent eurozone contraction this year.
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