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Economics

BUSINESS
April 12, 2013 | By Mae Anderson, Associated Press
NEW YORK - So much for new spring shorts and T-shirts. As cold weather lingered across most of the country, Americans shopped modestly in March. U.S. retailers reported that a key revenue figure rose slightly during the month, as shoppers held back on spending because of the cold weather across the nation, particularly the Midwest and East Coast, and continued fears about the economy. Consumer spending accounts for more than 70 percent of economic activity. According to a preliminary tally of 15 retailers by the International Council of Shopping Centers, revenue in stores open at least a year rose 1.6 percent, or 2.5 percent excluding drugstores.
BUSINESS
April 5, 2013 | By Steve Rothwell, Associated Press
NEW YORK - Weak reports on hiring and service industries sent the stock market sharply lower Wednesday. The Dow Jones industrial average fell 111.66 points, or 0.76 percent, to close at 14,550.35, its worst decline since Feb. 25. The Standard & Poor's 500 index dropped 16.56 points, or 1.05 percent, to 1,553.69. Both indexes had closed at record highs the day before. The Nasdaq composite fell 36.26 points, or 1.11 percent, to 3,218.60. The market started 2013 with a rally as investors became more optimistic about the U.S. economy, especially housing and jobs.
NEWS
April 5, 2013 | BY CHRIS BRENNAN, Daily News Staff Writer brennac@phillynews.com, 215-854-5973
FEDERAL PROSECUTORS want details about how the Delaware River Port Authority spent millions of public dollars in the past five years on projects that had nothing to do with the agency's mission of operating bridges and a rail line over the Delaware River. The chief of the U.S. Attorney's Office's public-corruption unit in Philadelphia sent the DRPA a subpoena two weeks ago for all records about that spending, dating to January 2008. The DRPA has until Tuesday morning to turn over "board minutes, financial records, grant/loan application packages, correspondence and all electronic communications . . . sent or received by DRPA employees and/or board of commissioners," according to the subpoena, which was obtained Wednesday by the Daily News . DRPA spokesman Tim Ireland confirmed Wednesday that his agency had received the subpoena at its Camden headquarters and is "cooperating fully" to turn over the relevant records.
BUSINESS
March 27, 2013 | By Matthew Craft, Associated Press
NEW YORK - More good news on the economy Tuesday drove the Standard & Poor's 500 index to within two points of its record closing high. The S&P rose 12.08 points, or 0.8 percent, to 1,563.77. Its record close of 1,565.16 was on Oct. 9, 2007, before the Great Recession and ensuing financial crisis battered markets. Rising home prices and orders for manufactured goods drove all other major indexes higher, too. The Dow Jones industrial average rose 111.90 points, or 0.8 percent, to another record high - 14,559.65.
NEWS
March 15, 2013 | By Erica Werner, Associated Press
WASHINGTON - Senators writing a comprehensive immigration bill may dramatically limit green cards for extended families of U.S. citizens, reserving them for immediate family members instead, a key lawmaker said Thursday. It would be a significant change to U.S. immigration policy that has long favored family ties over economic or job criteria. It is already sparking opposition from groups trying to protect family-based immigration. Sen. Lindsey Graham (R., S.C.), part of a bipartisan Senate group negotiating the bill, said the aim was to remake the immigration system so it had a clearer economic focus.
BUSINESS
March 8, 2013
In the era of serial Washington budget crises, you don't have to be a wonk to find the real numbers behind politicians' walls of words (like sequester ). Just use these smartphone applications about the state of the economy. FRED Economic Data , free from the Federal Reserve Bank of St. Louis, is available for Apple and Android devices. "Take the economy with you wherever you go," suggests the Fed. Want to see the bank's latest data on inflation, gross domestic product, unemployment, or any of the myriad of statistics kept by the Fed?
BUSINESS
March 7, 2013
In the era of serial Washington budget crises, you don't have to be a wonk to find the real numbers behind politicians' walls of words (like sequester ). Just use these smartphone applications about the state of the economy. FRED Economic Data , free from the Federal Reserve Bank of St. Louis, is available for Apple and Android devices. "Take the economy with you wherever you go," suggests the Fed. Want to see the bank's latest data on inflation, gross domestic product, unemployment, or any of the myriad of statistics kept by the Fed?
NEWS
March 3, 2013 | By Rita Giordano, Inquirer Staff Writer
A public briefing on the progress of Delaware County's still-forming local economic development strategy will be held Wednesday by the County Council. Once complete, the strategy will be a 10-year plan to promote job growth, opportunity, and community vitality, according to county spokeswoman Trish Cofiell. The Redevelopment Authority of the Delaware County Commerce Center has been working with the Delta Development Group Inc., a Mechanicsburg, Pa.-based planning firm hired for about $107,000, to conduct the study to form the strategy.
NEWS
March 2, 2013 | By Rita Giordano, INQUIRER STAFF WRITER
A public briefing on the progress of Delaware County's still-forming local economic development strategy will be held Wednesday by the County Council. Once complete, the strategy will be a 10-year plan to promote job growth, opportunity and community vitality, according to county spokeswoman Trish Cofiell. The Redevelopment Authority of the Delaware County Commerce Center has been working with the Delta Development Group Inc., a Mechanicsburg-based planning firm hired for about $107,000, to conduct the study to form the strategy.
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