Wednesday Afternoon Business Brief
September 19, 2012, 1:14 PM
- Better news on the housing market has helped the stock market to post a modest rally. It has lifted the Dow above the 13,600 level.
- Taken together, a reported increase in sales of previously occupied homes and word of further gains in home construction suggest the housing recovery is gaining momentum. The National Association of Realtors says sales of previously-owned homes rose nearly 8 percent in August to the highest in more than 2 years.
- Goldman Sachs CEO Lloyd Blankfein says austerity measures are not what the U.S. economy needs right now. Speaking in Toronto, Blankfein said that, quoting here, "you can't austere yourself into a higher GDP".
- Microsoft co-founder Bill Gates remains the nation's richest person by far. He takes the top spot on the Forbes 400 list for the 19th year running, with a net worth of $66 billion.
- Oil prices have dropped for a third straight day. Benchmark crude was recently trading below $92 a barrel in New York.
© 2012 Associated Press. All rights reserved. Material may not be redistributed.
10/17/2014 12:10 PM
A South Dakotan is a winner on the Allegiant Airlines' first in-flight game show called "The Game Plane." The reality show is film...
10/13/2014 6:12 PM
An initiated measure on the South Dakota ballot this November proposes to raise the state's minimum wage from $7.25 per hour to $8.50. Suppo...
10/15/2014 11:45 AM
Unglued: Christmas Market, will open in the space formerly occupied by the Book Shop in the Carpenter Building on Phillips Avenue from Nov. 20 through...
10/17/2014 2:15 PM
It was only a matter of time before scammers started capitalizing on the Ebola scare. The Better Business Bureau is warning consumers about a va...
10/16/2014 10:05 PM
Connor Burtis is holding a treasure hunt with the ultimate prize: A handcrafted piece of furniture.