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Power, transit outages will increase Sandy's costs

Submitted by Fox First at Ten on November 1st

By MATTHEW CRAFTAP Business Writer Widespread power outages and subway shutdowns may wind up making Superstorm Sandy the second most expensive storm in U.S. history, according to the forecasting firm Eqecat. That would rank it right behind Hurricane Katrina. Eqecat said Thursday that the damage

Average US rate on 30-year loan dips to 3.39 pct.

Submitted by Fox First at Ten on November 1st

By MARCY GORDONAP Business Writer WASHINGTON (AP) - The average U.S. rate on a 30-year fixed mortgage slipped this week and stayed near its record low, a trend that's helped boost home sales and refinancing. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan declined

Retailers' gains in October could hurt holidays

Submitted by Fox First at Ten on November 1st

By ANNE D'INNOCENZIOAP Retail Writer NEW YORK (AP) - Americans spent briskly in October before Superstorm Sandy hit the Northeast on the tail-end of the month. But the question is whether they're still willing to buy an iPhone for Christmas if they plunked down hundreds on a generator

Post-Sandy, Airbnb fees waived, Uber demand surges

Submitted by Fox First at Ten on November 1st

By BARBARA ORTUTAYAP Technology Writer NEW YORK (AP) - Two tech startups - one that pairs travelers with hosts and another that pairs drivers with people who need rides - have found diverging ways to deal with demand for their services in aftermath of Superstorm Sandy. Airbnb, the online home

US manufacturing expands at faster pace in October

Submitted by Fox First at Ten on November 1st

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - U.S. manufacturing expanded for the second straight month in October, boosted by growth in new orders and production. The Institute for Supply Management said Thursday that its index of factory activity rose last month to 51.7, up

US builders boost September spending 0.6 percent

Submitted by Fox First at Ten on November 1st

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - U.S. builders spent more on home construction in September, a gain that helped offset weakness in nonresidential building and government projects. Construction spending grew 0.6 percent compared to August when spending had fallen 0.1

US consumer confidence at highest since Feb. 2008

Submitted by Fox First at Ten on November 1st

By MARCY GORDONAP Business Writer WASHINGTON (AP) - Americans' confidence in the economy surged last month to the highest level in nearly five years, as many were encouraged by an improving job market. The Conference Board said Thursday that its consumer confidence index increased in

US stocks rise on strong economic data

Submitted by Fox First at Ten on November 1st

By DANIEL WAGNERAP Business Writer It's only been a day, but November on Wall Street is already looking a lot better than October. Strong economic data and corporate news converged Thursday to give U.S. stocks their best day since mid-September. Positive signs about the job market and

Spider-Man co-creator talks to Ga. arts school

Submitted by Fox First at Ten on November 1st

By RUSS BYNUMAssociated Press SAVANNAH, Ga. (AP) - Before he scripted the first adventures of Spider-Man and the Fantastic Four, a young Stan Lee launched his career in comic books as a lowly sidekick. To hear Lee tell it, the artists he worked for as a teenage assistant in 1940 might as well

Weekly applications for US jobless aid dip to 363K

Submitted by Fox First at Ten on November 1st

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - Applications for U.S. unemployment benefits dropped 9,000 to a seasonally adjusted 363,000 last week, a level consistent with modest hiring. The report comes just before Friday's October jobs data, the last broad snapshot of the