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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Nov 26, 2002
Page
1
Existing home sales rose to a 5.77 million annual rate in October, matching a 3rd-highest monthly level on record and signaling a potential all-time yearly high. Mortgage rates near 30-year lows spurred buyers while the Dow edged up, as analysts forecast continued strength in 2002.
Washington reports that major airlines will be required within six months to disclose why flights are late or canceled. The move follows a delay-filled 2000 season with 15 minute or more late arrivals, tied to storms and heavy traffic, and aims to identify choke points and improve capacity planning.
Elyria’s Botamer Florist, the county’s oldest shop, is now under Karol Davis and Connie Butler after a March sale by Dixie and Alan Botamer. The new owners, expanding The Perfect Setting brand, revamp the shop at East River Road and Clark Street with event planning catering and floral design while retaining the Botamers as consultants.
Time Inc publications may shift from free online access to subscribers of AOL, linking Time Inc brands with AOL Time Warner. The plan aims to boost AOL’s subscriber base amid slowing growth while preserving Time Inc titles such as People Time Sports Illustrated and Cooking Light. Shares rose modestly on the NYSE as talks proceed under new AOL chief Jon Miller.
Wall Street advanced Monday as investors shrugged at Wal-Mart and Federated sales concerns. The Dow rose 44.56 to 8649.40, the S&P 500 gained 2.33 to 932.88, and the Nash 370 Composite jumped 13.16 to 1481.90 amid ongoing optimism about earnings and the economy. Analysts cautioned a possible pullback before Thanksgiving as trading remained choppy.
The dollar gained against the euro and pound in European trading as improving U.S. economy signals and firmer bond prospects bolstered sentiment. Stocks also rose, prompting traders to trim earlier dollar-long positions amid optimism for the greenback.
The dollar edged higher as U S existing home sales rose to a seven month high aiding sentiment while tech shares advanced despite Downgraded ratings. Intel Cisco and AMD rose or held steady with mixed broker ratings and a 2 Journal volume dip noted in NYSE trading.
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