Indicator rises in June showing continued growth
The Conference Board led index rose 0.9 percent in June to 1977, the largest gain since December 2003, signaling sustained expansion amid rate hikes. Separate Labor Department data show unemployment benefit claims fell by 34,000 to 303,000, marking the largest weekly drop in 2.5 years as auto plants cut layoffs ahead of new model year.
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SBC eyes long distance growth with AT&T deal
SBC plans self-provided long distance services after acquiring AT&T Corp. Revenue rose 3 percent to 10.33 billion thanks to gains in long distance and high speed Internet subscribers. Google profits jumped fourfold in Q2 as strong ad demand boosts stock despite investor calls for more high growth.
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