US BUSINESS
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Retail-sales report offers surprise
Retail sales posted a surprising increase in February as consumers did not let major snowstorms stop them from racking up purchases. The advance, the biggest since November, provided hope that the recovery from the Great Recession is gaining momentum.March 13, 2010
Regulators shut down N.Y. bank
Regulators shut down Park Avenue Bank in New York Friday, marking the 28th failure this year of a federally insured bank. The Federal Deposit Insurance Corp. was appointed receiver of Park Avenue Bank. It had $520.1 million in assets and $494.5 million in deposits as of Dec. 31.March 13, 2010
Slowly, Americans regaining lost wealth
Americans are recovering their shrunken wealth — gradually. Household net worth rose last quarter, mainly because the healing economy boosted stock portfolios. But the gain was slight. And it was less than in the previous two quarters.March 12, 2010
Wabash announces hiring plans
Wabash National Corporation today announced that they have hired 100 temporary associates with plans to hire 90 more during the quarter.March 12, 2010
Inventories fall while sales increase
Businesses trimmed inventories at the wholesale level again in January even though sales rose for a 10th consecutive month. The dip in inventories underscored that businesses remain cautious about restocking their depleted shelves.March 11, 2010
Google to digitize old Italian books
Google says it will scan up to 1 million old books in national libraries in Rome and Florence, including works by astronomer Galileo Galilei, in what’s being described as the first deal of its kind. Officials from Google and Italian culture officials said Wednesday the project is the first time Google Books and a culture ministry have had such a partnership.March 11, 2010
Jobless aid measure clears Senate hurdle
Legislation to give additional months of unemployment benefits to people who have been out of a job for more than half a year cleared a key hurdle Tuesday that guarantees it will soon pass the Senate. The sweeping bill also would prevent doctors from absorbing a crippling cut in Medicare payments and extends health insurance subsidies for the unemployed through December. It would add $132 billion to the budget deficit over the next year and a half.March 10, 2010
Chevron to shed jobs, sell assets
Chevron Corp. said Tuesday it will cut 2,000 jobs this year and sell some overseas operations as it revamps its struggling refinery, marketing and transportation operations.By By The Associated Press , March 10, 2010
Toyota’s experts refute critics
Toyota, dogged by millions of recalls and claims that it still has not fixed its safety problems, took its strongest step yet Monday to silence critics who blame faulty electronics for runaway cars and trucks.March 09, 2010
Cities leap on Google’s broadband
Wearing just a T-shirt and shorts, Mayor Don Ness strolled to the end of a dock jutting into frigid Lake Superior. He grinned, waved his arms to a cheering crowd, and jumped in.March 06, 2010
GM to reinstate 661 dealerships
General Motors Co. will reinstate 661 dealerships it sought to drop from its sales network. GM executives said Friday that 661 dealerships — more than half of the 1,100 seeking to stay with the automaker — will receive letters giving them the option to remain open.March 06, 2010
Pending home sales fall in January
The number of buyers who agreed to purchase a home fell sharply in January, a sign that demand for housing is sinking this winter as stormy weather slammed Eastern states.March 05, 2010
Economy improving as retail sales climb
The economy is showing renewed strength as retail sales surged last month and factory orders also increased. Such gains could lead to more hiring — if they can be sustained.March 05, 2010
The Dow, Nasdaq fall, S&P 500 rose
The Dow fell 9.22, or 0.1 percent, to 10,396.76. It had risen nearly 64 points during trading.March 04, 2010
Costco profit rises in second quarter
Strong overseas sales growth and increased gasoline prices boosted Costco Wholesale Corp.’s revenue in the second quarter, helping send the warehouse club operator’s profit up 25 percent.March 04, 2010
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