Inflation accelerates as energy fuels 2005 rise
Consumer prices climbed 3.4 percent in 2005 driven largely by energy costs and gasoline surges. Energy jumped 17.1 percent while crude oil topped $70 per barrel, with overall inflation easing only slowly and earnings edging down. Analysts cite global competition and cautious wage trends as moderating factors.
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Fingerhut pledges business tax cuts in governor bid
Senator Eric Fingerhut of Cleveland outlines an economic plan letting small businesses pay only income tax while phasing out corporate and equipment taxes over five years. He argues revenue could be raised by reducing state and local government costs and by taxes from new workers. Congressmen Ted Strickland has endorsements but few specifics beyond education funding.
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Retailers plan to tailor brands to shoppers
Retailers at the National Retail Federation conference in New York say 2006 will hinge on tailoring brands and store experiences to customer demands. Experts note aging baby boomers will spend most, with innovation needed as housing cools and higher rates and energy costs bite.
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Tech earnings drive tepid Wall Street slide
Tech earnings weigh on markets for a second day as Intel and Yahoo disclosures raise fears of broader weakness. Nasdaq fell 1 percent to 2279.64 while Dow and S&P 500 declined modestly. Private-label success could hinge on retailers like Target Panney and Barnes & Noble delivering exclusive products.
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eBay posts 36 percent profit rise amid cautious forecast
eBay Inc reports Q4 profit up 36 percent to 279.3 million dollars or 26 cents per share on 1.37 billion dollars in revenue, up 44 percent as discounts drew listings in the holiday season. Excluding noncash costs, 24 cents a share beat Thomson analyst mean by 2 cents, while 2006 revenue guidance of 5.7 to 5.9 billion is termed conservative.
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