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Strong run of US economic data boosts markets

Submitted by Fox First at Ten on November 1st

By PAN PYLASAP Business Writer LONDON (AP) - A run of impressive U.S. economic news combined with encouraging signals out of China to drive markets higher on Thursday, a day ahead of key jobs data that could have a bearing on the race to the White House. Jobs data from the private payrolls firm

Oil prices rise on supply constraints in Northeast

Submitted by Fox First at Ten on November 1st

By SANDY SHOREAP Business Writer The price of oil is rising as operations at refineries and supply terminals in the Northeast remain restricted three days after Superstorm Sandy. Benchmark oil gained 85 cents Thursday to finish at $87.09 per barrel in New York. Power outages are hampering

Mass. man sentenced to 17 years in terror plot

Submitted by Fox First at Ten on November 1st

By DENISE LAVOIEAP Legal Affairs Writer BOSTON (AP) - A Massachusetts man was sentenced Thursday to 17 years in prison in a plot to fly remote-controlled model planes packed with explosives into the Pentagon and U.S. Capitol. Rezwan Ferdaus, 27, of Ashland, pleaded guilty in July to attempting

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