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Tuesday, Feb 07, 2012 |
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Weather Forecast |
| Cities / State |
°C |
°F |
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Atlanta
(Georgia) |
6.3 |
43.3 |
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Charleston
(South Carolina) |
10.6 |
51.1 |
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Charlotte
(North Carolina) |
4.1 |
39.4 |
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Columbia
(South Carolina) |
7.8 |
46 |
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Dallas
(Texas) |
10.0 |
50.0 |
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Miami
(Florida) |
22.8 |
73 |
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Nashville
(Tennessee) |
4.2 |
39.5 |
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News » Home
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| Eastwood Calls 'Halftime in America' in Chrysler Super Bowl Ad |
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Date: 06-02-2012
It's "halftime in America," and people who are out of work need look no farther than Detroit to see a way to recovery, Oscar-winning director Clint Eastwood said in a Super Bowl commercial for Chrysler Group LLC.
Eastwood, 81, spoke in a two-minute spot as the New England Patriots and New York Giants headed to their locker rooms at the midpoint of last night's game, the year's most-watched U.S. television event.
"It's halftime in America too," Eastwood said in the graveled voice that uttered some of Hollywood's most memorable lines in more than five decades as an actor, director and producer. "People are out of work and they're hurting. And they're all wondering what they're going to do to make a comeback."
Answers can come from the people of Detroit, Eastwood said. Wracked by the 2007-2009 recession and collapse of U.S. auto sales that sent the former Chrysler LLC and General Motors Corp. into bankruptcy, the region's jobless rate reached as high as 16.6 percent in July 2009. Now it's 9.7 percent.
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| Energy secretary backs natural gas exports |
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Date: 05-02-2012
The low price of natural gas is hurting domestic job growth, and exporting a small amount of the fuel will boost the economy, U.S. Energy Secretary Steven Chu told a Houston audience Thursday.
Speaking at a town hall at Houston Community College, Chu said a modest increase in the price of natural gas wouldn't significantly raise its cost to U.S. consumers who use it to heat their homes and manufacturers who need it to make products.
Natural gas futures closed at $2.55, up 17 cents, in trading Thursday on the New York Mercantile Exchange. It brings much higher prices in other countries.
"Exporting natural gas means wealth comes into the United States," Chu said.
The Energy Department's Office of Fossil Energy is reviewing several applications to export liquefied natural gas. The exports would relieve the glut of natural gas on the domestic market and raise revenue, but also potentially increase prices for domestic consumers.
Several U.S. energy companies have announced plans to close their natural gas wells and curb spending in natural gas fields, as its price has fallen from more than $13.50 in 2008.
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| U.S. unveils plans for offshore wind farms |
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Date: 03-02-2012
The U.S. government announced plans to move forward with a lease sale for offshore wind farms along the Atlantic coast.
The Bureau of Ocean Energy Management found there would be no environmental or socioeconomic effects from issuing wind energy leases off the mid-Atlantic coast.
U.S. Interior Secretary Ken Salazar, in a statement, said the announcement is in line with President Barack Obama's call for an "all-of-the-above" domestic energy strategy.
"Offshore wind holds incredible potential for our country and we're moving full-steam ahead to accelerate the siting, leasing and construction of new projects," he said in a statement.
The government said the lease form process would help accelerate the development of wind energy on the U.S. Outer Continental Shelf. Deputy Interior Department Secretary David Hayes said the lease announcement opens of "sweet spots" for wind energy off the Atlantic coast.
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| U.S. Jobless Claims Decline |
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Date: 02-02-2012
The number of people seeking initial unemployment aid benefits last week, the Labor Department said Thursday, a sign that companies were cutting fewer jobs and probably stepping up hiring.
Separately, the department said worker productivity increased in the last quarter of 2011, but more slowly than previously.
Weekly unemployment applications fell 12,000 to a seasonally adjusted 367,000, the government reported. The four-week average, a less volatile measure, dropped for the third straight week to 375,750.
That was the second-lowest level for the four-week average since June 2008. When applications stay consistently below 375,000, it usually signals that hiring is strong enough to lower the unemployment rate.
The report came a day before the government will issue its jobs report for January. Economists forecast that the report will show that employers added 155,000 jobs last month, while the unemployment rate remained at 8.5 percent.
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| Obama presses Congress to step up aid for homeowners |
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Date: 01-02-2012
President Barack Obama on Wednesday pressed lawmakers to back a $5 billion to $10 billion plan to help U.S. homeowners refinance, part of an election-year package that is unlikely to overcome Republican opposition in Congress.
Obama moved to counter Republican criticisms that the proposal would use taxpayer money to bail out irresponsible borrowers by stressing that only homeowners current on their payments could benefit. The president had sketched out the plan in his State of the Union address last week.
Nearly 11 million Americans are underwater on their mortgages, meaning they owe more than their homes are worth. Millions more have lost their homes in states that are up for grabs in November's presidential election.
The program would seek to move homeowners who have been locked out of refinancing into government-backed loans.
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| Intuit: Small business adds 50,000 jobs in January |
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Date: 30-01-2012
Small businesses added 50,000 new jobs in January but paid employees slightly less and gave them fewer hours, according to Intuit Inc. monthly small business employment index.
For the period spanning Dec. 24 to Jan. 23, Intuit reported small business employment inched up 0.2%, equating to an annual growth rate of 2.9%.
During the month, small business hourly employees worked an average of 107.5 hours, down slightly from 107.6 hours in December. Average monthly pay for all small business employees slipped to $2,632, slightly less than the December revised estimate of $2,635 a month.
Intuit noted that the equivalent annual wages would be about $31,600 a year, which is part-time work for many small business employees.
"Overall the small business labor market is not weak, but not strong either," said Susan Woodward, the economist who worked with Intuit to create the index. "Small business employment continues to rise but at a rate that will not get us back to full employment very quickly."
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| Bank of America shuffles investment banking leaders |
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Date: 29-01-2012
Bank of America Corp is shaking up the leadership of its investment bank as it looks to find its footing in a difficult market environment.
In the reorganization, Christian Meissner will become head of global corporate investment banking, while two former co-heads of the unit will take on new roles, according to a memo sent to employees on Sunday by co-chief operating officer Tom Montag that was obtained by Reuters.
Meissner will report to Montag, the former Merrill Lynch and Goldman Sachs Group Inc executive who runs global banking and markets operations for Bank of America.
Paul Donofrio will become head of global corporate banking credit and transaction banking with responsibility for global treasury services, loan products and other services. Michael Rubinoff will become chairman of GCIB, where he will be charged with deepening client relationships.
Both executives will also report to Montag.
The new structure comes as the corporate and investment bank adapts "to a changing market environment to more effectively meet the needs of our clients," Montag said in the memo.
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| Super Bowl advertisers seek buzz on social media |
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Date: 29-01-2012
In the age of Twitter and Facebook, many Super Bowl viewers will use the commercial breaks to go online and see what people are saying about the game. This year, advertisers want them to tweet about their favorite commercials as well.
Having spent record-breaking sums to secure the most valuable television slots in advertising, global brands from Coca-Cola to Volkwagen are looking to leverage social media to extend the buzz and reach of their ads.
According to executives from Comcast Corp's NBC television network, which will broadcast the February 5 football game, a 30-second commercial slot cost $3.5 million on average this year, up from $3 million for last year's Super Bowl, which was on News Corp's Fox station.
"The social media conversation has put more value on a Super Bowl ad, fans will discuss your ads on Twitter and Facebook and then go to YouTube to watch it on demand over and over again," said Brad Adgate, senior vice president of research at Horizon Media.
This year's Super Bowl will take place in Indianapolis, with the New York Giants and New England Patriots battling it out for the
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