User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


69° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Thursday Afternoon Business Brief

June 26, 2014, 2:12 PM

Thursday Afternoon Business Brief

NEW YORK (AP) - Stocks are lower on Wall Street this morning as traders seem unimpressed by the latest economic data. The government says the number of Americans seeking unemployment benefits dropped again last week, while consumer spending rose in May but by a disappointingly small amount. The Dow was down more than 100 points in the first hour of trading, while the broader indexes are also off by about 0.5 percent. While not deep, the drop has been wide. All 10 sectors of the S&P 500 are lower.

  • The number of Americans filing for unemployment benefits declined last week. The Labor Department say first-time jobless claims fell 2,000 to a seasonally adjusted 312,000.  The four-week average edged up by the same amount to 314,000. The average has fallen 9 percent since the beginning of this year. Applications are a proxy for layoffs, so the declines indicate that companies are cutting fewer jobs. The total number of people receiving benefits was 2.57 million.
     
  • U.S. consumers stepped up their spending in May, but only slightly. The Commerce Department says spending rose 0.2 percent after no gain in April. Those relatively flat numbers follow a March surge of 0.8 percent, but economists are calling the rebound disappointing and say it won't give the economy the boost they had expected after the first quarter slowdown.
     
  • New York's highest court has refused to reinstate New York City's ban on the sale of big sodas. The state's Court of Appeals has ruled that the city's health department overstepped its bounds when it restricted the size of sodas. The ban limited restaurants, delis, movie theaters, stadiums and street carts to selling sugary drinks no larger than 16 ounces. Then-Mayor Michael Bloomberg pushed the rule as a way to fight obesity and other health conditions.
     
  • The German government is canceling a contract with Verizon over fears the company could be letting U.S. intelligence agencies eavesdrop on official communications. The Interior Ministry says it will let its current contract for Internet services with Verizon expire in 2015. Germany has been at the forefront of international outrage over alleged electronic eavesdropping by the U.S. National Security Agency and Britain's GCHQ, revealed last year by former NSA contractor Edward Snowden.

Previous Story

Next Story




Sponsored
 

View business

You may also like

Takata Air Bag Recall Becomes Biggest Ever In US

5/20/2015 5:19 AM

Takata's decision to add more than 18 million air bags to existing recalls comes following pressure from U.S. safety regulators.

Full Story
South Minnesota Ave. Burger King To Be Torn Down For Strip Mall

5/19/2015 2:06 PM

Demolition of the Burger King building will get underway June 1 and the strip mall will be complete in mid-October.  

Full Story
Moe's Southwest Grill Looks To Open Restaurant In Sioux Falls

5/18/2015 4:18 PM

The Mexican franchise Moe's Southwest Grill has picked a location in Sioux Falls, but has yet to seal the deal.  Moe's Southwest Grill st...

Full Story
Buildings Being Torn Down on 41st Street For New Strip Mall

5/19/2015 4:10 PM

A new strip mall is coming to 41st Street across from the Western Mall.  Lloyd Companies is taking out the K & H Car Wash, Mobil gas station ...

Full Story
Raven Industries Sales And Profits Significantly Down

5/19/2015 9:45 AM

Raven Industries is reporting significant first quarter profit losses.  Raven's net sales were down 31.4 percent to $70.3 million. Raven'...

Full Story


Events