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US natural gas supplies grew last week

Submitted by Fox First at Ten on September 20th

NEW YORK (AP) - The nation's natural gas supplies rose last week, the government said Thursday. The Energy Department's Energy Information Administration reported that natural gas in storage grew by 67 billion cubic feet to 3.496 trillion cubic feet for the week ended Sept. 14. Analysts

Oil drop reflects reality of global economy

Submitted by Fox First at Ten on September 20th

By JONATHAN FAHEYAP Energy Writer NEW YORK (AP) - Reality returned to the oil market this week. Oil has fallen 7 percent since last Friday, when the price briefly topped $100 for the first time in 4 months. The sharp drop was expected and overdue, many analysts say. Traders had driven oil

Dubai port firm sells stakes in Belgium, Yemen

Submitted by Fox First at Ten on September 20th

DUBAI, United Arab Emirates (AP) - Dubai's government-backed port operator DP World says it has sold off stakes in port businesses in Belgium and Yemen. The company said Thursday it sold its 60 percent stake in Belgium's DP World Breakbulk NV and AProjects NV to a buyer named Orienta NV. It

Manufacturing in Philly area shrinks for 5th month

Submitted by Fox First at Ten on September 20th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - Manufacturing in the Philadelphia region shrank for a fifth straight month in September, suggesting demand for American-made goods has weakened. The Federal Reserve Bank of Philadelphia says its index of regional manufacturing activity

Rate on 30-year mortgage falls to record 3.49 pct.

Submitted by Fox First at Ten on September 20th

By MARCY GORDONAP Business Writer WASHINGTON (AP) - The average U.S. rate on the 30-year fixed mortgage touched its record low this week and the rate on 15-year mortgage hit a new record. The declines followed the Federal Reserve announcement last week that it would buy bonds to try to push

Financial Services Roundtable tabs Pawlenty as CEO

Submitted by Fox First at Ten on September 20th

WASHINGTON (AP) - The Financial Services Roundtable, a trade group representing 100 of the world's biggest financial companies, on Thursday named former Minnesota Gov. Tim Pawlenty its new president and CEO. Pawlenty will take over the key lobbying post for the financial services industry on

Trulia shares climb in debut on NYSE

Submitted by Fox First at Ten on September 20th

SAN FRANCISCO (AP) - Shares of Trulia Inc. jumped more than 40 percent in their first day of trading on the New York Stock Exchange, marking one of the biggest gains in a trading debut in recent months. The San Francisco-based real estate website operator's shares opened at $22.10 Thursday

Measure of future US activity fell in August

Submitted by Fox First at Ten on September 20th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - A measure of U.S. economic activity declined in August for the second time in three months, suggesting the economy remains weak. The Conference Board says its index of leading indicators, designed to forecast future economic activity,

News Summary: Weekly US unemployment claims dip

Submitted by Fox First at Ten on September 20th

By The Associated Press APPLICATIONS FALL: The number of Americans seeking unemployment benefits fell by 3,000 last week to a seasonally adjusted 382,000, the Labor Department said. UPWARD TREND: The four-week average, a less volatile measure, rose for the fifth straight week to 377,750. That

Report: Bank of America to speed job cuts

Submitted by Fox First at Ten on September 20th

NEW YORK (AP) - A published report says Bank of America is accelerating a cost-cutting plan and aims to eliminate 16,000 jobs by the end of the year. The cuts are part of a previously announced plan by the bank to cut 30,000 jobs. The Wall Street Journal cites a document given to top management at