Unemployment Claims Rise Highlight Weak Hiring Landscape
Notable unemployment claims increased last week, reaching the highest level in nearly six months and signaling ongoing hiring weakness as employers consider staff cuts. IRS free filing offers quicker refunds, with e-file processing potentially delivering refunds in about 10 days, per Commissioner Doug Shulman.
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Doug Shulman
GM sets sights on public sale as profits rise
General Motors reports 1.3 billion in profit for April through June marking a black quarter and signaling a path to a stock offering. CEO Ed Whitacre will step down September 1, replaced by Daniel Akerson. board chair remains this year.
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Detroit
General Motors
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Ed Whitacre
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Daniel Akerson
Thursday market dips wider than expected amid mixed signals
The Dow falls 58.88 points to 10319.95, the Nasdaq slips 18.36 to 2190.27, and the S&P 500 drops 5.86 to 1083.61. Commodities move differently with corn up 10.75 cents to 4.22, soybeans up 13 to 10.29, wheat up 15 to 7.25, and oil down 2.28 cents to 75.74.
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Chicago
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Tax increase would affect few high earners, study says
President Obama’s proposal to let Bush-era tax cuts lapse for the wealthiest households would hit 76 percent of those taxpayers only modestly. A July 30 Joint Committee on Taxation analysis shows $200,000 to $500,000 earners paying about $532 on average in 2011, while $500,000 to $1 million and over $1 million groups face far larger increases.
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Barack Obama
Congressional Joint Committee On Taxation
House
Ways and Means Committee
Roberton Williams
The
Urban Institute
Joint Tax Committee
George W. Bush
Congress
Obama
Sen
World Wheat and Corn Stocks Decline Worldwide
The world races to feed rising demand for meat flour and ethanol while supplies tighten. Wheat stockpiles may fall to a two year low as drought hits Russia exports drop 84 percent, while corn output reaches a record though inventories stay tight. John Macintos h, a veteran trader in Chicago, warns exportable wheat and feed grain supplies are insufficient.
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Russia
Department of Agriculture
USDA
John Macintosh
Rand Financial Services Inc
Chicago
Continental Grain
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