Finance news. My opinion.

October 2, 2014

TTC won’t run streetcars on Cherry until at least 2016

Filed under: debt, money — Tags: , , , — Professor @ 2:08 pm

The track work is nearly complete. But it

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September 26, 2014

Applications for US unemployment rise 12K to 293K

Filed under: news, uk — Tags: , , , — Professor @ 2:15 am

WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits increased last week after falling sharply two weeks ago. Despite the rise, the level of applications remains near pre-recession levels, a sign that hiring will likely remain healthy.

Weekly unemployment benefit applications rose 12,000 to a seasonally adjusted 293,000, the Labor Department said Thursday. Yet the four-week average, a less volatile measure, fell for the second straight week to 298,500.

The figures are “very low … close to all-time lows when measured as a share of payrolls,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics, in a research note. “We expect robust job growth in the months ahead.”

Two weeks ago, applications had plummeted to 281,000, near a 14-year low first reached in July. Over the past year, the four-week average for applications has fallen 7.1 percent. They climbed above 650,000 during the recession in 2009.

Applications are a proxy for layoffs. Fewer applications indicate that employers are holding onto their workers, likely because they are more confident about the economy. It may also indicate they will boost hiring.

The total number of people receiving benefits ticked up by 7,000 to 2.4 million. A year ago, 3.9 million people were receiving unemployment aid. That number has fallen sharply partly because of the expiration of extended benefits, a program that ended at the beginning of this year.

Applications fell steadily through the summer. At the same time, job gains have been solid, despite a slowdown in hiring in August.

Employers added just 142,000 jobs last month, according to the Labor Department, down from an average of 212,000 in the preceding 12 months. It was the end of a six-month streak of monthly job gains in excess of 200,000. The unemployment rate fell to 6.1 percent from 6.2 percent, but only because some of those out of work gave up looking. The government doesn’t count people as unemployed unless they are actively searching.

Still, most economists expect hiring will continue at a healthy pace this year. Surveys of both manufacturing and services firms show that companies in both sectors added workers in September.

Source

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September 24, 2014

Deer are pests for airports, threats to pilots

Filed under: money, news — Tags: , , , — Professor @ 11:03 am

WASHINGTON (AP) — Aviation and wildlife experts say soaring deer populations are nuisances for airports and threats to pilots, especially at this time of year.

Whether driven by hunger or just crazy for love, deer will do seemingly anything to get onto airport grounds and runways, including leaping over tall fences or squeezing under them. But put a deer and a plane together on a runway and both can have a very bad day.

A recent government report says that from 1990 to 2013, there were 1,088 collisions between planes and deer, elk, moose and caribou. Most of the planes suffered damage, and some were destroyed. One person was killed and 29 others injured. About a third of the collisions took place during the October-November mating season.

Source

September 16, 2014

Yellen Rate Raises Seen as Gradual in Survey as Inflation Muted - Bloomberg

Filed under: lenders, marketing — Tags: , , , — Professor @ 8:31 am

Even after five years of steady economic growth, Federal Reserve Chair Janet Yellen is likely to raise interest rates only gradually between 2015 and 2017 as inflation remains muted, according to a Bloomberg survey of economists.

Fifty-six percent of 61 economists said the median of policy makers

September 11, 2014

MasterCard loses EU court battle over fees

Filed under: business, house — Tags: , , , — Professor @ 11:43 am

BRUSSELS (AP) — The European Union’s highest court has thrown out an appeal by MasterCard against a decision by the bloc’s antitrust authority to scrap some of its fees charged to merchants.

The ruling by the 28-nation bloc’s Court of Justice on Thursday closes MasterCard’s seven-year-old battle against a decision made by the EU’s competition watchdog.

The judges in Luxembourg confirmed a 2012 ruling against by a lower EU court, saying the relevant fees cannot be seen as “objectively necessary” since the card system remains “capable of functioning without those fees.”

The so-called multilateral interchange fees on every card transaction were retained by the card-issuing bank and charged to merchants.

MasterCard is based in Purchase, New York.

Source

September 8, 2014

China

Filed under: management, news — Tags: , , , — Professor @ 5:59 am

China

September 4, 2014

US worker productivity rises at 2.3 percent rate in second quarter while labor costs edge down

Filed under: Uncategorized, money — Tags: , , , — Professor @ 11:51 pm

WASHINGTON (AP) — US worker productivity rises at 2.3 percent rate in second quarter while labor costs edge down.

Source

August 29, 2014

Contracts to buy U.S. homes rise in hopeful sign

Filed under: Uncategorized, news — Tags: , , , — Professor @ 12:27 pm

WASHINGTON • More Americans signed contracts to buy homes in July, a sign that buying has improved as mortgage rates have slipped, the number of listings has risen and the rate of price increases has slowed.

The National Association of Realtors says its seasonally adjusted pending home sales index rose 3.3 percent to 105.9 last month. Still, the index remains 2.1 percent below its level a year ago.

The pressures that caused home sales to stall last year have started to ease. The average 30-year fixed mortgage rate has dropped to 4 short term personal loans.1 percent, a 52-week low. Prices are no longer rising at double-digit annual rates, thereby helping to improve affordability.

Pending sales are a barometer of future purchases. A one- to two-month lag usually exists between a contract and a completed sale.

Source

August 19, 2014

Lax safety measures to blame for Lac-M

Filed under: business, economics — Tags: , , , — Professor @ 6:31 pm

MONTREAL — There were 18 separate factors that led to the death of 47 people in last summer’s Lac-M

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