Jobless claims fall but remain high amid war buildup
Fewer Americans filed new unemployment claims last week, but totals stayed elevated at 421,000 for the week ending March 15. The Labor Department data show initial claims down 4,000 from the prior week, keeping the job market in a weak stance as economists note claims above 400,000 signal persistent labor slack.
MENTIONED IN THIS ARTICLE
Iraq
Labor Department
HealthSouth leaders placed on leave amid $1.4 billion fraud claim
HealthSouth Corp begins cleansing house by putting chairman and CEO Richard Scrushy on leave as regulators allege a $1.4 billion fraud since 1999. Director Robert P. May becomes acting CEO while Ernst & Young cooperates with the SEC. The firm is the nation’s largest outpatient surgery, imaging, and rehab services provider.
MENTIONED IN THIS ARTICLE
HealthSouth Corp
Richard Scrushy
Ernst & Young
Scrushy
Robert P. May
SEC
HealthSouth
Cisco to Buy Linksys for 500 Million in Stock
Cisco Systems Inc will acquire The Linksys Group Inc in a 500 million stock deal, positioning Cisco as a leader in home networking. The move follows Cisco's dominance in enterprise gear and aims to expand into a highly competitive, margin-slim consumer market facing rivals like Microsoft Netgear D Link and Intel. Overland Park based Waddell and Reed Financial Inc announced a quarterly dividend of 0.1326 per share payable May 1 to holders of record April 10.
MENTIONED IN THIS ARTICLE
Cisco Systems Inc
Linksys Group Inc
Cisco
Linksys
Microsoft Corp
Netgear
D-Link
Intel Corp
Overland Park
Barnes & Noble Posts 32 Percent Profit Gain in Q4
Barnes & Noble Inc the nation s largest bookseller reports a 32 percent profit rise for the fourth quarter earning 149 per share versus 109 in the year-ago period. Weak sales growth did not prevent beating Wall Street estimates as the company posted stronger earnings.
MENTIONED IN THIS ARTICLE
Barnes & Noble Inc
Wall Street
Russian pharmacists seek to boost Lawrence area ties
A group of Russian pharmacists visit Lawrence on Saturday to explore collaboration and share ideas aimed at strengthening their country's developing pharmaceutical industry. The visit highlights ongoing academic and industry exchanges and potential joint projects.
MENTIONED IN THIS ARTICLE
Lawrence
Cessna to lay off 1,200 workers at Wichita unit
Cessna Aircraft will cut 1,200 jobs and extend a seven week furlough for 6,000 workers due to weak demand and a reduced order from NetJets. Roughly 9,200 at the Wichita facility face layoffs with 60 day notices starting March 31. NetJets is a major business jet customer, while total 2003 Citations deliveries are projected 180 to 195.
MENTIONED IN THIS ARTICLE
Wichita
Cessna Aircraft
Cessna
Jessica Myers
Columbus
Iraq
Myers
NetJets Inc
NetJets
Providence
Textron
Independence
Wall Street climbs as war developments loom
Investors push stocks higher for a seventh straight session amid war in Iraq while awaiting fresh developments. The Dow gains 0.3 percent to 8286.60, Nasdaq rises to 1402.77, and S&P 500 edges to 875.84 as traders weigh a possibly longer, tougher conflict.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Iraq
Peter Dunny
Wall Street Access
U.S
Dow
Standard & Poor
Saddam Hussein
Baghdad
Bush
New York Stock Exchange
Economic activity falls in February
The Conference Board reports a 0.4 percent drop in the Leading Economic Indicators in February to 111.1, reversing a four month gain trend and signaling a possible slowdown in consumer spending as war and terrorism fears rise. The coincident index held steady at 115.5, showing no change in current activity.
MENTIONED IN THIS ARTICLE
New York
U.S
Conference Board
Ken Goldstein
War sparks rise in mortgage rates in Iraq conflict
The AP reports mortgage rates jumped as the U S prepared a military strike on Iraq. The 30-year fixed rate rose to 5.79 percent for the week ending March 21 from 5.61 percent, with Freddie Mac noting bond yields reversed their decline as uncertainty eased.
MENTIONED IN THIS ARTICLE
Washington
United States
Iraq
Treasury
Freddie Mac
Frank Nothart
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