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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 20, 2016
Page
11
Gold remains unchanged at 1,267.9 after a 0.56 percent move as traders parse late data. Reuters notes the bullion price holding near key levels amid thin liquidity and cautious sentiment in global markets.
US housing data show single family starts up 8.1 percent to 783,000 in September, the strongest since February, supported by labor market gains and low mortgage rates. Overall starts fell 9 percent to 1.05 million as multifamily activity plunged 38 percent to 264,000, offset by rises in permits and regional gains.
The Gazette provides a photo print store at gazettephotostore.com for buying published images. If the desired photo is unavailable, requests can be made to post it for purchase.
U S Bancorp posted a 4.7 percent rise in quarterly revenue as mortgage banking surged 40.2 percent to 314 million alongside a 4.5 percent rise in net interest income to 2.89 billion. Net income reached 1.5 billion or 84 cents per share as total revenue grew to 5.39 billion, while loan loss reserves rose 15.2 percent to 325 million. CEO Richard Davis cited persistent low rates, a flat yield curve, and a slow economy but highlighted growth in consumer lending and fee-based income.
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