“Business briefs - Dubuque Telegraph Herald” plus 3 more |
- Business briefs - Dubuque Telegraph Herald
- Nation's jobless rate continues creep upward - Star-Press
- Topless club stripped of business award - Denver Post
- UPI NewsTrack Business - United Press International
| Business briefs - Dubuque Telegraph Herald Posted: 03 Oct 2009 07:51 AM PDT |
| Nation's jobless rate continues creep upward - Star-Press Posted: 03 Oct 2009 06:25 AM PDT (3 of 3) Hourly earnings rose by a penny last month, while weekly wages fell $1.54 to $616.11, according to the government data. The average hourly work week fell back to a record low of 33 in September. That figure is important because economists are looking for companies to add more hours for current workers before they hire new ones. The uncertainty that surrounds the recovery has made employers reluctant to hire. The Business Roundtable, a group of CEOs from large corporations, said earlier this week that only 13 percent of its members expect to increase hiring over the next six months. While job losses have slowed since the first quarter of this year when they averaged 691,000 a month, the cuts actually worsened last month in many sectors compared with August. Construction jobs fell by 64,000, more than the 60,000 eliminated in August. And service sector companies cut 147,000 jobs, more than double the 69,000 in the previous month. Retailers lost 38,500 jobs, compared to less than 9,000 in August. Government jobs fell 53,000, the report said, with local governments cutting the most. One the bright side, temporary help agencies eliminated only 1,700 jobs, down from the previous month. Economists see temporary jobs as a leading indicator, as employers are likely to hire temp workers before permanent ones. Tig Gilliam, CEO of Adecco North America, a temporary job agency, said the industry likely will add jobs next month. According to a separate report Friday, U.S. factory orders fell in August by the largest amount in five months. The Commerce Department said demand for manufactured goods dropped 0.8 percent, much worse than the 0.7 percent gain that economists had expected. The August decline reflected plunging demand for commercial aircraft, a category that surged in July. -------- AP Economics Writer Jeannine Aversa and Associated Press Writer Mark S. Smith contributed to this report. |
| Topless club stripped of business award - Denver Post Posted: 02 Oct 2009 06:01 PM PDT DALLAS — The owner of a topless club in Dallas says Newt Gingrich's conservative group gave her a business award — and then rescinded it. Dawn Rizos, owner of The Lodge, says she was set to receive an "Entrepreneur of the Year" award from American Solutions for Winning the Future. But she says the group later rescinded the award and the accompanying private Oct. 7 dinner with Gingrich, saying it confused Rizos' business with one by the same name in Virginia. |
| UPI NewsTrack Business - United Press International Posted: 03 Oct 2009 07:37 AM PDT IMF considers tax on financial sector ISTANBUL, Turkey, Oct. 3 (UPI) -- The financial sector could be taxed to prevent another severe economic downturn, the head of the International Monetary Fund said in Turkey. "Having some money coming from the financial sector to create a kind of fund for insurance or funding for low-income countries is something that we are going to consider," Dominique Strauss-Kahn said Friday in Istanbul before the IMF-World Bank annual meeting. Strauss-Kahn predicted global growth will return at a lower level than before the crisis and warned against jettisoning a stimulus strategy too early, The (London) Independent reported Saturday. Addressing the effects of the downturn on the Caucasus and Central Asia, IMF Director Masood Ahmed said the region likely would see growth drop from 6.6 percent in 2008 to 1.5 percent in 2009. "The region as a whole should see a modest recovery in 2010, although the degree of the upturn will vary among countries," Ahmed said in a release Saturday. Energy importing low-income countries, such as Armenia, Georgia and Tajikistan, still face a difficult year ahead, Ahmed said. Blackstone may buy Anheuser theme parks NEW YORK, Oct. 3 (UPI) -- The private equity firm Blackstone Group is negotiating to buy SeaWorld, Busch Gardens and other Anheuser-Busch InBev theme parks, officials said. As of Friday, the proposed sale price stood at between $2.5 billion to $3 billion, sources close to the negotiations told The New York Times in a story published Saturday. Anheuser has been expected to sell the theme parks to help pay for the $52 billion Anheuser-Busch InBev merger, The Times reported. Anheuser and Blackstone representatives declined to comment. Anheuser has said its theme parks business was the second largest in the United States, with 10 parks stretching from Florida to Pennsylvania. Blackstone owns the Merlin Entertainments Group, a British company with more than 50 properties, and co-owns the Universal Studios Orlando theme park with NBC Universal. If approved, an Anheuser sale to Blackstone would be one of the largest private equity deals this year. Bank of America forms CEO search committee CHARLOTTE, N.C., Oct. 3 (UPI) -- U.S. financial giant Bank of America said it formed a search committee to find a replacement for beleaguered Chief Executive Officer Kenneth Lewis. Lewis announced he would retire Dec. 31, at the end of what turned out to be a year of controversy that began with the purchase of struggling Merrill Lynch. Months later, a federal judge in New York refused to sign off on a $33 million settlement Bank of America agreed to pay, while admitting no wrongdoing, for allegedly keeping secrets from its shareholders about the extent of Merrill Lynch's losses and a deal to pay Merrill Lynch employees billions in bonus checks despite those losses. The search committee is composed of six people. The Wall Street Journal reported three of the six -- Charles Gifford, Thomas May and Thomas Ryan -- are close to Brian Moynihan, the head of the bank's consumer businesses and a leading candidate to replace Lewis. Southern Union fined $18 million PAWTUCKET, R.I., Oct. 3 (UPI) -- A federal judge has fined Southern Union $18 million for illegally storing mercury at a company-owned site in Pawtucket, R.I., authorities said. The penalty involves a $6 million criminal fine and $12 million in fines to be paid to the Rhode Island Foundation, Hasbro's Children's Hospital and the Rhode Island Department of Environmental Management and Emergency Response Fund, the U.S. Department of Justice said. The sentence was handed down Friday by Judge William Smith in U.S. District Court in Pawtucket, R.I. "This is a significant penalty for what was a significant hazard to Pawtucket residents," U.S. Attorney Neronha said. "We are particularly pleased with the creative way in which Judge Smith fashioned the penalty, directing $12 million to benefit the people of Pawtucket." Southern Union was convicted of illegally storing mercury for several years at a site near the Seekonk River. |
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