New U.S. claims for unemployment benefits dropped more than expected last week to touch their lowest level in more than two years, suggesting the labor market recovery was gaining strength. Get the full story »
Filed under: Government
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All first-class postage to be ‘forever’ stamps
Beginning in January, all new postage stamps good for 1 ounce of first-class mail will be marked as “forever.”
The U.S. Postal Service is doing away with issuing first-class stamps with denominations. Get the full story »
Treasury prices fall after disappointing auction
Treasury prices dropped Tuesday after results of the government’s $35 billion auction of long-term bonds disappointed traders.
The price of the 10-year Treasury note lost $1 per $100 invested in afternoon trading. Its yield, which moves in the opposite direction, rose to 3.46 percent from 3.34 percent late Monday. Get the full story »
FTC clears Icahn takeover of Dynegy
Carl Icahn’s $665 million cash takeover of power producer Dynegy Inc. received clearance from the Federal Trade Commission Tuesday.
The billionaire investor’s deal follows a failed bid by private equity firm Blackstone Group LP. Icahn, Dynegy’s largest shareholder, opposed the $5 per share deal arguing it undervalued the company. Get the full story »
Dec. 28, 2010 at 9:39 a.m.
Filed under: Agriculture/Farming, Food, Government, Packaged foods, Restaurants, Updated FDA links tainted sprouts to Urbana farm
By Monica Eng | The Food and Drug Administration issued a warning Monday for consumers to avoid alfalfa sprouts and spicy sprouts that were grown on a farm in Urbana, Ill., because of a suspected link to salmonella. Get the full story »
Fed to make next Treasury purchases today
The Federal Reserve is scheduled on Tuesday to buy Treasurys targeting maturities between June 30, 2013, and Nov. 30, 2014. Get the full story »
Midair-collision warning devices draw FAA scrutiny
Federal aviation regulators are proposing fixes to midair-collision warning devices on nearly 9,000 U.S airliners and business aircraft, after uncovering a safety problem in a test flight.
The Federal Aviation Administration’s proposed directive, made public Monday, seeks to mandate software upgrades to widely used devices manufactured by a unit of L-3 Communications Holdings Inc. Get the full story »
Alfred Kahn, airline deregulator, dead at 93
Alfred Kahn, an economist who became known as the “architect of deregulation” under the Carter administration, has died of cancer. He was 93.
It is widely accepted that Kahn’s efforts dismantled air travel as the domain of the elite and paved the way for low-cost airlines. Get the full story »
JFK expected to reopen by 6 p.m. Eastern time
A reopening time for two of New York area’s three main airports is unknown as of noon, but JFK is expected to reopen at 6 p.m. EST, according to the Federal Aviation Authority’s Web site.
Early Monday the FAA said it anticipated a reopening for the three airports at 4 p.m. EST, but by mid-morning had left the openings in limbo.
La Guardia, John F. Kennedy International and Newark International, in Newark, N.J. have remained closed due to ice and snow.
Midwest Manufacturing Index shows Nov. uptick
The Chicago Fed Midwest Manufacturing Index increased slightly in November to 81.1 percent, according to data released Monday by the Federal Reserve Bank of Chicago.
October’s index was revised to 80.8 percent, a .3 percent increase from September. Get the full story »
Treasurys dip on China rate hike
Treasury prices picked up where they left off before Christmas: heading lower.
Investors sent bond prices down just a bit Monday, after a surprise interest rate hike in China and before a $99 billion auction of long-term government notes scheduled for this week. Get the full story »
IRS: Tax changes to delay filing for some
Some taxpayers will be unable to file returns until mid-to-late February because of recent tax breaks approved by Congress in its lame-duck session, the IRS said Thursday.
Congress approved tax breaks for higher education tuition, state and local sales taxes and out-of-pocket expenses for teachers in kindergarten through high school. Get the full story »
Obama to renominate MIT’s Diamond to Fed
President Barack Obama will renominate Nobel-prize winning economist Peter Diamond to the Federal Reserve Board next year when the new Senate convenes, a White House official said Thursday.
The Senate scuttled Diamond’s nomination Wednesday by failing to vote on it before adjourning its lame duck session for the year. Get the full story »
30-year mortgage rates end 5-week climb
Rates on fixed mortgages dipped after rising for five weeks in a row.
Still, they remain more than a half-point higher than last month and are at the highest level since late spring. Get the full story »
FCC chief sets conditions for Comcast, NBC deal
The head of the Federal Communications Commission is laying out regulatory conditions to ensure that cable giant Comcast Corp. cannot stifle video competition once it takes control of NBC Universal.
The conditions are intended to guarantee that existing subscription television services and new online video services can still get access to NBC content. Get the full story »
