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.


79° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Thursday Afternoon Business Brief

August 28, 2014, 3:06 PM

Thursday Afternoon Business Brief
  • The escalating conflict in Ukraine is combining with disappointing earnings and profit outlooks from several retailers to drag stocks lower today. Trading has been light ahead of the Labor Day holiday. In mid-afternoon trading, the Dow was down about 30 points, while the S&P 500 was about two points lower.
  • 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 average 30-year U.S. mortgage rate remains at a 52-week low this week. Mortgage company Freddie Mac says the nationwide average for a 30-year mortgage is 4.10 percent, the same as last week. The average for a 15-year mortgage, a popular choice for people who are refinancing, has risen to 3.25 percent from 3.23 percent.
  • A mass filing for unemployment and other benefits will begin next week for newly laid-off Atlantic City casino workers. The Showboat and Revel are shutting down this weekend, putting more than 5,000 workers out of work. Trump Plaza will add 1,100 more when it closes Sept. 16. An outreach effort is being set up at Atlantic City's convention center, where more than 100 work stations will be set up to help process workers' claims with the state Department of Labor and other agencies and social service organizations.
  • The Abercrombie & Fitch logo has lost the power it once wielded. Shares of Abercrombie & Fitch Co. tumbled today after reporting weak sales for the second quarter as more teens shop elsewhere. The company says revenue fell 5.8 percent to $890.6 million. Traditional teen stores are facing an uphill battle to turn their businesses around as mall traffic drops and shoppers' tastes change. And expensive standbys like Abercrombie also have lost business to "fast fashion" chains like H&M, known for quickly churning out trendy $9 tops.

Previous Story

Next Story




Sponsored

 


View business

You may also like

Allegiant Air Pilot Pleads With Tower To Make Emergency Landing

7/29/2015 1:58 PM

An Allegiant Airlines pilot declared a fuel emergency and had to land at a North Dakota airport even though the airport was closed for the Blue Angels...

Full Story
Lick The Spoon Closes East Side Location

7/29/2015 9:53 AM

Just a year after opening on East 10th Street and Bahnson Avenue in Sioux Falls, Lick The Spoon restaurant has closed its doors.  Angela Becker o...

Full Story
Filly Flair Set To Open Sioux Falls Store On Saturday

7/30/2015 5:18 PM

A successful online retailer is opening her first brick and mortar shop in Sioux Falls.

Full Story
Famous Wine Maker Planning Sioux Falls Development

7/29/2015 1:00 PM

Barber tells KELOLAND News while the plans still have yet to be finalized, they call for a couple of apartment buildings with eight to 12 units, as we...

Full Story
Fiat Chrysler To Pay Record Recall Fine

7/27/2015 9:32 AM

The settlement also forces the car maker to repurchase more than half a million Ram pickup trucks built between 2008 and 2012 because defective steeri...

Full Story


Events