Economy Rebounds as Consumers Boost Spending in October
U S shoppers snapped out of a September lull with a 0.4 percent rise in spending in October led by higher outlays on nondurable goods such as clothing and food. The Federal Reserve noted scattered signs of improved activity while caution remained in manufacturing and investment. Income rose about 0.6 percent with wages and government transfers.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Commerce Department
Joel Naroff
Naroff Economic Advisors
Fed
AL Dotan Center
Tates
Commerce
Midwest
Purchasing Manage
Self Destructing DVDs Usher New Viewing Limits
High tech discs that expire after hours or days threaten the late fee model. Flexplay and SpectraDisc promote disposable DVDs with air exposure timing, potentially changing rental economics while raising waste and copying concerns for studios and Blockbuster.
MENTIONED IN THIS ARTICLE
San Francisco
Mel Gibson
Blockbuster
Atlantic Records
MGM Studios
007
Associated Press
Sony Pictures
Warner Bros
Vivendi Universal
MGM
Walt Disney Co
Flexplay
SpectraDisc
Ryan Jones
Yankee Group
Karen Raskopf
Hollywood
Jonathan Roomey
U.S
Roomey
United Airlines weighs union vote to avoid bankruptcy
United Airlines seeks a $5.2 billion labor cost reduction over 5 years with a $1.8 billion loan guarantee at stake. About 37,500 machinists and handlers face a 6 to 7 percent pay cut as pilots have already approved $2.2 billion in cuts and flight attendants vote on $412 million in reductions.
MENTIONED IN THIS ARTICLE
Chicago
United Airlines
Joseph Tiberi
Rank and
United
Lion
Bank fined 4M for ignoring anti money laundering rules
New York bank Broadway National Bank pleaded guilty to three felonies for failing to report suspicious activity from 1996 to 1998 and will pay a 4 million fine. Prosecutors said about 123 million moved through the bank, mostly drug money, in a case marking the first bank prosecution for weak anti money laundering controls. A runner carried 660000 in cash to the bank before moving it overseas.
MENTIONED IN THIS ARTICLE
NEW York
Broadway National Bank
US Customs
Nelson Chen
Broadway
Chen
Web sites in black by saving you green
Bargain hunting sites boosted by online deals contrast with Thanksgiving ads as FatWallet.com reports a 20 percent rise after merchants warned on November 20 about sharing confidential post holiday sale details. The sites earn money through referral fees and sales commissions attracting deal seekers.
MENTIONED IN THIS ARTICLE
San Francisco
Wal- Mart
Target
FatWallet.com
Tim Storm
Roscoe
Trio of positive economic reports boost stocks on Wall Street
Wall Street surged with the Dow up 249.57 to 8925.99 and the Nasdaq rising 43.74 to 1488.17 as three upbeat data points spurred investor optimism. Consumers increased spending and factory orders for big-ticket items climbed while Midwest manufacturing also expanded. Analysts said the data eased recession fears and confirmed resilient consumer demand.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Sogsna
Baethe
Tories
Midwest
Kevin Caron
Ryan, Beck & Co., LLC
Dollar steadies as US economic data lift outlook
The dollar strengthens against major rivals amid upbeat economic news ahead of Thanksgiving. Jobless claims fell, October consumer spending rose 0.4 percent, durable goods orders up 2.8 percent, and Chicago PMI at 54.3 signaling expansion, boosting sentiment for a resilient economy.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/AP
John McCarthy
ING Barings Capital Markets
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Jending Wi
Mary
Nenioptique
Nabil Sawandy
Alan Blaustein
Dana Lewis
East
Providence
R.1
The
Standard & Poor
Peter Cardillo
Ment Association of Chicago
Institute of Supply Management
National Association of Purchasing Management
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