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January 07, 2009

Wall Street Wednesday: Stocks fall on fresh evidence of economic woes

Time Warner and Intel on Wednesday issued disappointing guidance.  Computer chip maker Intel Corp. said it expects fourth-quarter revenue to drop 23 percent, below prior estimates.

Virginia considering requiring financial literacy class in high school

The Virginia Board of Education is considering requiring a financial-literacy course for high school students in order to graduate with an advanced-studies diploma

Oil prices tumble below $45 on oil reserve report
Oil prices tumble below $45 on oil reserve report

Energy prices tumbled across the board Wednesday as a government report showed U.S. oil reserves were much bigger than expected, suggesting demand continues to fall


January 06, 2009

Recent recalls

Here’s a look at some recent recalls: cribs, electric toasters, girls jackets, bicycles, dried sweet potatoes.

Consumers need to read pre-need funeral contracts

Understand what you are buying. Read the fine print very carefully, cautioned Virginia AARP spokesman Tony Hylton. A contract can contain guaranteed items and non-guaranteed items.

CPSC announces recall of Jardine cribs
CPSC announces recall of Jardine cribs

The CPSC is recalling more than 56,000 Jardine cribs because the slats on the crib can break and cause dangerous gaps to infants and toddlers.

Will bulls be held at bay in 2009?
Will bulls be held at bay in 2009?

The bear may lurk for a good while yet, but don’t lose hope for the eventual return of the bull either, some local investment advisors and market analysts say.

NASCAR job seekers shifting gears

With anywhere from 700 to 1,000 NASCAR team employees looking for work and racing teams struggling to find sponsors and keep the teams they still have running, a lot of people are having to use job search skills that they haven’t used in years, Don Gemmell said.

Stocks pare gains following mixed economic reports

The Institute for Supply Management said Tuesday the U.S. services sector contracted at a slower pace in December. But the National Association of Realtors says pending home sales fell to the lowest level on record in November, much more than expected.

Even in recession, CES to have stuff worth seeing
Even in recession, CES to have stuff worth seeing

The recession figures to tone down the flashiness of this week’s International Consumer Electronics Show, but the lineup of innovative products likely will measure up to those of past years.


January 05, 2009

Surviving a layoff
Surviving a layoff

Job losses during the past year have shown no mercy, striking all levels, from data-entry clerks to department managers, from new hires to senior employees. What happens after a loss depends on attitude as well as aptitude.

Construction spending falls less than expected

Construction spending fell less than expected in November as record activity on nonresidential projects helped offset another steep decline in housing.

Sign of the times: Waterford crystal maker in bankruptcy

Waterford Wedgwood today said its United Kingdom operations are being placed in administration and a receiver has been appointed for its Irish businesses after it failed to secure new financing.

LG high-def TVs to stream Netflix videos directly

Netflix Inc. has come up with another way to get movies to people without sending DVDs in the mail.


January 03, 2009

Foreign workers face stress as unemployment rises
Foreign workers face stress as unemployment rises

Laid-off foreign workers are scrambling for temporary visas and seeking advice from immigration attorneys about how long they can legally stay in the country while hunting for jobs.


January 02, 2009

Manufacturing index drops to 28-year low

The Institute for Supply Management, a trade group of purchasing executives, said Friday its manufacturing index fell to 32.4 in December from 36.2 in November.

Wall Street sees quiet start to 2009
Wall Street sees quiet start to 2009

Wall Street is largely brushing off a weaker-than-expected report on the manufacturing sector.


December 31, 2008

Stores to airlines, many brands vanished in 2008

For some companies, 2008 was no beauty. The woes of the nation’s retailers began before the year even started.

Wall Street looks to 2009 with relief after terrible ‘08

The last trading day of 2008 on Wall Street provided a merciful end to an abysmal year - the worst since the Great Depression, wiping out $6.9 trillion in stock market wealth.

Online sales fall 3% during holiday season

Online retail sales, which have regularly boasted double-digit growth, fell 3 percent during the 2008 holiday shopping season and likely 4 percent in the fourth quarter, according to comScore Inc

Oil falls in quiet trading to cap turbulent year
Oil falls in quiet trading to cap turbulent year

Oil traded below $40 per barrel on the last day of 2008


December 30, 2008

Companies force workers to take unpaid vacation

Financially struggling universities, factories and even hospitals are requiring employees to take unpaid “furloughs” - temporary layoffs that amount to one-time pay cuts for workers and a cost savings for employers. This year, the number of temporarily laid off workers hit a 17-year high.

December consumer confidence drops to all-time low

Consumers have been nervous about spending for months - putting off big-ticket purchases, forgoing new clothes and choosing store brands at the grocery store - all of which may make this the worst holiday season for retailers in decades.

Cost of groceries still rising, but at slower pace
Cost of groceries still rising, but at slower pace

It takes six months to a year for lower gas and production costs to be reflected in grocery stores

Stocks hold gains after sluggish consumer data

Wall Street is taking in stride a report that consumer confidence hit an all-time low in December as Americans, hearing news of thousands of layoffs, worried about their job security.

Gift cards not licenses for instant gratification
Gift cards not licenses for instant gratification

There are several things to keep in mind while going on your post-holiday shopping spree that will help you pocket more loot.


December 29, 2008

Danville couple opens new skateboard shop, despite tough economy

While many might think it not a wise idea to open a new business in the middle of a recession, Shane and Heather Bagbey believe that it’s exactly what God wanted them to do.

Temp agency seeking mortgage pros for 250 Richmond-area jobs

The demand for loan officers and loan-application reviewers has jumped recently as interest rates have declined, setting off a surge of mortgage refinancing, said Jacqueline Chen Valencia, a spokeswoman for Adecco.

Foreclosing isn’t just for lenders these days
Foreclosing isn’t just for lenders these days

Donna White never thought she’d lead the charge to foreclose on her neighbors. But that was before she was forced to fork over extra cash every month to cover bills they refused to pay.

Stocks narrowly mixed as oil prices rise

Wall Street is narrowly mixed in early trading as investors warily watch events in the Middle East. Israel has continued its attack on Gaza for a third day.

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