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BUSINESS NEWS

BUSINESS

Markets hit record highs in half day session

Written by  |  Tuesday, 24 December 2013 14:29  |  Published in BUSINESS

NEW YORK, Dec. 24 (UPI) -- Stocks closed at another record high in a holiday-shortened Christmas Eve session in New York Tuesday.

With markets shutting down at 1 p.m. EST, the Dow Jones industrial average added 62.94 points or 0.39 percent to 16,357.55. The DJIA has hit at least 45 record highs this year and is up more than 24 percent since January.

The Standard & Poor's 500 index, up more than 27 percent for the year, added 5.33 points, 0.29 percent, to 1,833.32, also setting a record closing high. The Nasdaq composite index of tech-dominated stock added 6.51 points, 0.16 percent, to 4,155.42.

On the New York Stock Exchange, 2,043 issues advanced while 1,015 declined. Trading was light with 1.3 billion shares trading hands.

Stocks got a boost from November's durable goods data. New orders in November rose 3.5 percent, the Commerce Department said. In a separate report, the department said new home sales in November slid 2.1 percent compared to October.

Tokyo's Nikkei 225 added 0.12 percent or 11.91 points to 15,889.33. Hong Kong's Hang Seng index added 257.99 points or 1.13 percent to 23,179.55 and Australia's S&P/ASX 200 added 35.30 points or 0.67 percent to 5,327.20.

McDonalds website advises against eating a lot of fast-food

Written by  |  Tuesday, 24 December 2013 15:01  |  Published in BUSINESS

OAK PARK, Ill., Dec. 24 (UPI) -- U.S. fast-food chain McDonald's defended an employee resource website that advises against eating fast-food often.

The website, which appears to contain content from a third-party vendor, unfavorably compares hamburger meals with submarine sandwiches and includes pictures of food similar to that served at McDonald's as examples of an "unhealthy choice," CNBC reported Tuesday.

Many millionaires say they don't feel rich

Written by  |  Saturday, 27 July 2013 11:15  |  Published in BUSINESS

NEW YORK, July 28 (UPI) -- Millionaires say they are not so financially comfortable they can do whatever they want, when they want to, a U.S. survey found.

UBS Wealth Management Americas surveyed 4,450 investors with $1 million or more in investable assets and found that most of them said they didn't feel rich, the New York Post reported.

US housing recovery pricing out first-time buyers

Written by  |  Monday, 22 July 2013 10:00  |  Published in BUSINESS

CHICAGO, July 23 (UPI) -- The U.S. housing recovery is increasingly pricing first-time home buyers out of the market, data provided by the National Association of Realtors indicates.

NAR released a home sales report indicating people in their late 20s and early 30s accounted for only 30 percent of buyers in the past year, The Wall Street Journal reported Tuesday.

Ford to hire 3 000 salaried workers in 2013

Written by  |  Tuesday, 23 July 2013 14:51  |  Published in BUSINESS

DEARBORN, Mich., July 24 (UPI) -- Ford Motor Co. said it will hire 3,000 salaried workers in the United States in 2013, 800 more than previously announced.

The company said as many as 90 percent of the new salaried workers will work in Michigan, where the company has its headquarters.

About 80 percent of the new positions will be in engineering or information technology.

US housing market exhibits more signs of recovery

Written by  |  Wednesday, 24 July 2013 03:58  |  Published in BUSINESS

IRVINE, Calif., July 25 (UPI) -- The U.S. housing market is improving bit by bit as data from a first-ever Residential Sales report from RealtyTrac shows, a company executive said.

"The U.S. housing market is slowly but surely moving toward a more normalized and sustainable pattern after a flurry of institutional and cash buyers flocked to residential real estate last year," Daren Blomquist, vice president at RealtyTrac, said in a statement.

Institutional buyers, measured by the number of sales to non-lending entities that purchased at least 10 properties in the last 12 months, rose to 9 percent of all residential sales in June, up from 8 percent in May, but down from 10 percent in June 2012, the firm said.

Chevrolet Impala wows Consumer Reports

Written by  |  Wednesday, 24 July 2013 06:55  |  Published in BUSINESS

YONKERS, N.Y., July 25 (UPI) -- Consumer Reports said the 2014 Chevrolet Impala earned the best scores in its class, making a U.S. model the top large sedan for the first time in 20 years.

The product testing organization praised the Impala's handling, braking and its "refreshingly intuitive and easy to use" interior controls. "When pushed to its handling limits, the Impala proved secure, responsive, balanced, and easy to control," CR said.

Further, the Impala has gone from a "mediocre" score of 63 to an "excellent" score of 95, Consumer Reports said.



(C) 2013 Copyrights Theodore Myles