Economy Ended 2004 Stronger with Jobs Gain and Inflation Watch
The 2004 economy closed with momentum and a robust fourth quarter GDP growth of 3.8 percent. Dow rose 129 points amid solid job gains with February adding 262,000 and forecasts of about 220,000 for March. Inflation concerns persist as core prices rose 1.7 percent in Q4, prompting the Fed to consider further rate hikes. energy prices have cooled slightly. Federal Reserve officials cite growth but worry about pricing power and inflation. President Bush pushes Social Security overhauls including personal investment accounts to bolster the economy.
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Washington
Wall Street
Commerce Department
United States
Anthony Chan
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Clear View Economics
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U.S. cites 61 nations for unfair trade practices
The Bush administration on Wednesday released a 72 page trade barriers report accusing 61 countries and groups of nations of harming U.S. manufacturers and farmers. It highlights China with 88 pages of criticism over IP theft and currency issues, Japan with 45 pages, and the European Union with 49 pages. The report aims to guide next year’s negotiations, with potential WTO action if talks stall. It notes a record $417 billion U.S. trade deficit and flags currency manipulation as a key concern.
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Asian Wok and Grill planned for former deli site in Elyria
Qi Lui, operator of the China Wok on Cleveland Street, will open Asian Wok and Grill at 202 Broad St in the building vacant since fall after Zaki’s moved. The fast food concept targets lunch and dinner sets at 3.99 and 4.99 respectively, with the new place aiming to serve workers on break and seat more patrons.
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Elyria
Deli
Qi Lui
Cleveland Street
Broad St
United States
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Zaki
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Broad Street
Gilberto Cilfarelli
Grafton Wins 100000 State Grant to Extend Commerce Drive
A $100000 state grant, from the Whin Small Cities Community Development Program, funds extending Commerce Drive in Grafton to create a horseshoe layout and attract new business. Projected to add about 2000 feet and spur at least 51 jobs, with new entrances from state Route 57.
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Grafton
Gev
Bruce Johnson
Johnson
Commerce Drive
Horseshoe
Kevin Flanigan
Shammick Development
Vivian Drive
Federated CEO Lundgren gets 3.4 million 2004 bonus
Federated Department Stores Inc. awarded chief executive Terry J. Lundgren a 3.4 million bonus for 2004 performance. The board approved the payout on Friday and it was disclosed in the company’s SEC filing. Federated, owner of Macy’s stores, reported the figure in its latest report.
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Federated Bepartment Stores Inc
Terry J. Lundgren
Many's
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Federated’s
Securities and Exchange Commission
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