Retail sales rise as autos lead holiday demand
Government data show retail sales up 1.9 percent in November to 102.5 billion, with autos setting a record and gains in clothing, building supplies, food, drug and department stores, while gasoline service stations and furniture stores lagged. durable goods rose 4 percent led by autos, non-durables up 0.9 percent amid broader consumer spending optimism.
MENTIONED IN THIS ARTICLE
Washington
Commerce
Malcolm Baldrige
Commerce Department
Ago Ambre
FTC asks comment on used car rules
The Federal Trade Commission seeks public input on a long delayed proposal to require used car dealers to disclose defects. The rule faces legal delays from a lawsuit and a court order for comments by January 16.
MENTIONED IN THIS ARTICLE
FTC
Washington
The
Federal Trade Commission
2Nd
U.S. Circuit Court of Appeals
New York
Congress
Secretary
Sixth Street
Pennsylvania Ave. NW
Washington, D.C
States sue United Central Bank over Bloomfield failure
State Banking Superintendent Tom Huston files in Davis County District Court alleging United Central Bank of Des Moines concealed Bloomfield Exchange Bank losses to protect its loans. Suit seeks restitution to cover about half of Bloomfield deposits after uninsured deposits totaling 1.6 million were paid. The complaint accuses United Central of insider dealings and pressuring Exchange Bank to stay open, making it liable for depositors and creditors.
MENTIONED IN THIS ARTICLE
Bloomfield
United Central Bank of Des Moines
Exchange Bank of Bloomfield
Davis County
Tom Huston
Des Moines Bank
Bloomfield Bank
Huston
United Central
Exchange Bank
Peter Burchette
Nan Burchette Cameron
Edward Burchette
United Central and Exchange Bank
State metro unemployment rates in October by state and city
The Labor Department reports October metro unemployment rates across Iowa and neighboring states. Cities in Illinois, Minnesota, Missouri, Nebraska, South Dakota, Wisconsin and other areas show varied rates from 3.6 percent in Sioux Falls to 16 percent in Duluth-Superior, with several cities above 10 percent. The report notes most states have lower rates than a year ago, while Delaware Oklahoma and West Virginia show year over year increases.
MENTIONED IN THIS ARTICLE
Commerce
Robert Ortner
David Ernst
Evans Economics Inc
Washington
Iowa
Labor Department
Illinois
Bloomington-Normal
Champaign- Urbana-Rantoul
Chicago
Davenport- Rock Island-Moline
Decatur
Kankakee
Peoria
Rockford
Springfield
Cedar Rapids
Des Moines
Dubuque
Sioux City
Waterloo-Cedar Falls
Kansas
Lawrence
Topeka
Wichita
Minnesota
Duluth-Superior
Minneapolis- St. Paul
Rochester
St. Cloud
Missouri
Kansas City
St. Joseph
St. Louis
Nebraska
Lincoln
Omaha
South Dakota
Sioux Falls
Wisconsin
Appleton-Oshkosh
Eau Claire
Green Bay
Janesville-Beloit
Kenosha
la Crosse
Madison
Milwaukee
Racine
West Virginia
Delaware
Oklahoma
United Telephone gets interim 15 percent rate hike
The Iowa Commerce Commission approved an interim 15 percent rate increase for United Telephone Co. effective Friday. The move comes as regulators decide on a 98 percent increase the company seeks, expected to raise about 6.3 million. United Telephone serves over 100,000 telephones in 80 Iowa communities, with city by city variation. In Newton the average residential bill rises 95 cents monthly and business rates about 1.65 dollars per month.
MENTIONED IN THIS ARTICLE
Newton
Iowa Commerce Commission
United Telephone Co
United Telephone
Iowa
Tipton
Greene
Lowden
Wall Street slips after strong retail data spooks traders
The Dow fell to 1255.89 as stocks declined on broad selling after a government retail sales surge. IBM and AT&T weighed on the market while bond yields rose, signaling higher rates and worries about inflation and Federal Reserve policy. Volume rose on the NYSE and in other venues.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Dow Jones
New York Stock Exchange
NYSE
Chicago & North Western Transportation
A.G Becker
Treasury
Newton Zinder
E.F. Hutton & Co
Federal Reserve Board
Robert Colby
Smith Barney, Harris Upham & Co
International Business Machines
IBM
Colby
American Telephone & Telegraph
Dollar Hits New Highs Against European Currencies
The dollar reached record levels in Europe against the British pound at 1.4190, the French franc at 8.4375, and the Italian lira at 1671.55, marking a second consecutive day of peaks. In Washington, the Federal Reserve index of the dollar rose to 133.73, up from 133.34, its third straight all time high since March 1973.
MENTIONED IN THIS ARTICLE
Europe
France
Washington
Federal Reserve System
Also Mentioned on This Page
Supreme Court
Executive Branch
Honda
Terry Smith
Honda Cars
Center Point Road
United Central Bank
Office Services.inc
Iowa City
United Telephone Increase
Amalgamated Spirit & Provision Co
Bell System
At&t
Standard & Poor
S&p
Lincoln-Mercury
Ford Credit
Ford Motor Credit Company
Mer
Ford Motor
Ste
Tad
Ioc
Steitzer Lincoln Mercury
Collins Road
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