January 31st, 2012 by InvestorPoint
ANN ARBOR, Mich., Jan. 31 (UPI) -- New light-duty automobiles entering the U.S. market are more fuel-efficient and give motorists up to 1.7 miles per gallon more on the road than vehicles bought before 2008, a University of Michigan study indicated. "Recent Fuel Economy Trends for New Vehicles in the U.S." reported on gains made as a result of automobile design and manufacture changes made in the past five years. The report by Brandon Schoettle and Michael Sivak from the university's Transportation ...
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January 31st, 2012 by InvestorPoint
CHICAGO, Jan. 31 (UPI) -- The Chicago Business Barometer showed slower gains in January than December, the Institute for Supply Management said Tuesday. With numbers above 50 indicating expansion, the Chicago association's headline business barometer for December, compiled by Kingsbury International Ltd., slipped from December's 58.8 to 54.9 in January. January marked the 28th month of expansion for manufacturing activity in the area. The indexes for production and new orders also "softened" the r...
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January 31st, 2012 by InvestorPoint
WASHINGTON, Jan. 31 (UPI) -- A U.S. Navy program to upgrade electronic warfare systems has brought together Lockheed Martin and Raytheon in a bid for the contract. "Technology is rapidly advancing around the world and we understand the threats our Navy faces are not simplified by today's fiscal challenges," said Carl Bannar, vice president of Lockheed Martin's Integrated Warfare and Surveillance Systems business. "By teaming with Raytheon, the original developer of the legacy AN/SLQ-32 program, we w...
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January 31st, 2012 by InvestorPoint
WASHINGTON, Jan. 31 (UPI) -- U.S. President Barack Obama said Tuesday it's time to follow through on promises to help small businesses. The president presided at his first full Cabinet meeting since the State of the Union address. "I mentioned at the State of the Union that there have been discussions, bipartisan discussions between Republicans and Democrats, about a whole set of measures that can accelerate financing to startup companies; can provide tax breaks to startups and small businesses that...
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January 31st, 2012 by InvestorPoint
NEW YORK, Jan. 31 (UPI) -- Consumer confidence in the United States retreated in January after two months of gains, the Conference Board said Tuesday. The index hit a two-year low in August, then posted gains in September, November and December, sliding a touch in October. In January, the index dropped from 64.8 to 61.1, the Conference Board said. The index uses 1985 as a base year, assigning it a value of 100. The monthly Consumer Confidence Index is based on a survey of 5,000 households. "C...
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January 31st, 2012 by InvestorPoint
WASHINGTON, Jan. 31 (UPI) -- U.S. sales receipts at chain stores rose slightly in the week ending Saturday, the International Council of Shopping Centers said Tuesday. Sales rose 0.1 percent in the week, but came in 3.9 percent higher than the same week of 2011, the trade group said. Consumer trends shifted "towards staples and value goods" in the week as the price of gasoline cut deeper into discretionary spending by rising 5 cents in the week. The Energy Information Agency said gasoline reached ...
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January 31st, 2012 by InvestorPoint
NEW YORK, Jan. 31 (UPI) -- U.S. home prices declined in both 10-city and 20-city composite indexes in November, the closely watched S&P/Case-Shiller home index report said. Considered a base line economic indicator showing consumers are confident enough to invest in a home, prices are will well off the April 2006 peak, the report shows. In November, the 10-city index dropped from 151.98 in October to 150.89, a low unseen since July 2003. The 20-city index dropped from 138.49 to 137.52, a low uns...
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January 31st, 2012 by InvestorPoint
BRUSSELS, Jan. 31 (UPI) -- The unemployment rate in the eurozone was unchanged in December compared to November, holding at 10.4 percent, the European Union's data office said Tuesday. The rate is a modest tick higher than the 10 percent rate of December 2010 but shows a clear lack of an economic recovery. The gross domestic product in Europe has trended lower. In Britain and Germany in the fourth quarter, the GDP contracted about 0.2 percent. In the 17-member region that shares the euro as currency...
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January 31st, 2012 by InvestorPoint
NEW YORK, Jan. 31 (UPI) -- U.S. markets were flat Tuesday as Statistics Canada said the Canadian gross domestic product declined in November. The GDP fell 0.1 percent in November, after coming in flat in October, Statistics Canada said. Equities were higher in Asia and Europe, but a pact or fiscal discipline measures agreed to by 25 of 27 European Union countries did not provide a strong boost. The summit in Brussels did not reach a conclusion on the next bailout disbursement for Greece. In mid...
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January 31st, 2012 by InvestorPoint
European Union leaders in Brussels agreed to new fiscal discipline measures Monday with only two holdout nations turning the proposals down. Britain and the Czech Republic decided not to join with 25 other European Union countries that adopted the tougher rules in a summit that was as anti-climatic as a flashlight in broad daylight. The nations, seemingly on the same page, also agreed to work on the issue of jobs in a declaration that had little teeth, if any. The pledge to create jobs was quickly d...
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