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US mortgage rates fall to record low, at a glance

Submitted by Fox First at Ten on November 15th

By The Associated Press Average U.S. rates on fixed mortgages fell to fresh record lows this week, a trend that has helped the housing market start to recover this year. Here's a look at rates for fixed and adjustable mortgages over the past 52 weeks:

News Summary: Sandy drives up US jobless claims

Submitted by Fox First at Ten on November 15th

By The Associated Press CLAIMS SURGE: Superstorm Sandy drove the number of people seeking unemployment benefits up to a seasonally adjusted 439,000 last week, the highest level in 18 months. STORM DAMAGE: The Labor Department said weekly applications increased by 78,000 mostly because a large

Bernanke: Banks' tight standards hurting economy

Submitted by Fox First at Ten on November 15th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke said Thursday that banks' overly tight lending standards may be holding back the U.S. economy by preventing creditworthy borrowers from buying homes. Some tightening of credit standards was

Germany: Parents win appeal over son's downloads

Submitted by Fox First at Ten on November 15th

BERLIN (AP) - A German court has ruled that the parents of a 13-year-old boy weren't liable for his illegal file sharing. The ruling Thursday by Germany's Federal Court in Karlsruhe is a blow to the efforts of music and film companies trying to clamp down on unauthorized distribution of

US rate on 30-year mortgage hits record 3.34 pct.

Submitted by Fox First at Ten on November 15th

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - Average U.S. rates on fixed mortgages fell to fresh record lows this week, a trend that has helped the housing market start to recover this year. Mortgage buyer Freddie Mac says that the average rate on the 30-year loan dipped to 3.

Stocks slide after weak retail reports

Submitted by Fox First at Ten on November 15th

NEW YORK (AP) - Stock indexes are slipping in midday trading on Wall Street after several big U.S. retailers disappointed investors with weak profit forecasts. Wal-Mart's stock dropped $2.64 to $68.67 after the retailer issued a weak outlook for fourth-quarter profits. Ross Stores also slid

BP agrees to pay $4.5B; 3 employees charged

Submitted by Fox First at Ten on November 15th

By MICHAEL KUNZELMANAssociated Press NEW ORLEANS (AP) - A day of reckoning arrived for BP on Thursday as the oil giant agreed to plead guilty to a raft of charges in the deadly Gulf of Mexico spill and pay a record $4.5 billion, including the biggest criminal fine in U.S. history. Three BP

Competitor's woes buffet Monster's stock

Submitted by Fox First at Ten on November 15th

By SARAH SKIDMOREAP Business Writer PORTLAND, Ore. (AP) - Monster Beverage Corp.'s stock was buffeted Thursday by the news that the Food and Drug Administration is investigating deaths potentially tied to a competitor's product. The Corona, Calif.-based company's stock fell more

News Summary: McDonald's replaces head of US unit

Submitted by Fox First at Ten on November 15th

By The Associated Press SHAKE-UP: McDonald's Corp. is replacing the head of its U.S. business after the world's biggest hamburger chain reported the first drop in a monthly sales figure in nearly a decade. COMING AND GOING: The company says Jan Fields, president of McDonald's USA,

US natural gas supplies shrank last week

Submitted by Fox First at Ten on November 15th

NEW YORK (AP) - The nation's natural gas supplies fell last week, the government said Thursday. The Energy Department's Energy Information Administration reported that natural gas in storage shrank by 18 billion cubic feet to 3.911 trillion cubic feet for the week ended Nov. 9. It was the