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.
7/23/2014 6:30 AM
605 Running Co., 124 S. Phillips Avenue, just opened its doors on Friday. It's a big grand opening for the store, but also for Downtown ...
7/25/2014 11:12 AM
Sioux Falls is no longer the nation's best small city for business and careers.
7/27/2014 3:31 PM
One small northwest Iowa town is preparing to deal with the loss of 450 jobs this fall when the Tyson Foods plant in Cherokee closes, and business own...
7/28/2014 1:12 PM
Apple users will soon have another option for sales and service support.
7/22/2014 10:10 PM
78 million Baby Boomers are retiring or preparing to retire. The question they all face is when to draw their Social Security benefits.