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The Mortgage Banker’s market composite index, which measures the volume of home loans processed throughout the country, was up 7.5 percent last week. The increased activity resulted in a dramatic increase in refinance applications. The index that tracks refinance applications jumped 22.1 percent for mid-January, pushing its share of mortgage activity from 66 percent to… Continue Reading Mortgage bankers report increased refinancing

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The Associated Press Consumers increased their spending at the weakest pace in six months while applications for unemployment benefits soared last week, two more signs the economy is weakening. The Commerce Department reported today that consumer spending edged up just 0.2 percent during December – the year’s peak shopping season – down sharply from a… Continue Reading Two ‘clear’ signs of weakening economy emerge

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Corporations growing more charitable

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Total corporate contributions in the United States and abroad amounted to $10.2 billion during 2006, up from $9.8 billion during 2005. The Conference Board’s annual survey of corporate giving also showed total U.S. giving among the 189 corporations polled was $7.9 billion. Corporate U.S. giving ranged from a low of $72,200 to a high of… Continue Reading Corporations growing more charitable

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Treasury Dept. to sell $22 million in debt

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The Associated Press The Treasury Department said Wednesday it will sell $22 billion in debt at its quarterly auction next week as officials study ways to finance the economic stimulus package, which is expected to boost this year’s deficit by more than $100 billion. The department said it will auction $13 billion in 10-year notes… Continue Reading Treasury Dept. to sell $22 million in debt

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Thredgold on recession odds, long-term forecast

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Vectra Bank Colorado corporate economist Jeff Thredgold said the likelihood of recession is 50 percent, although no one will know whether it’s happened until early next year. Thredgold’s long-term economic forecast includes the following highlights: National unemployment will move modestly higher this year before declining during 2009. Inflation, which has been at its highest level… Continue Reading Thredgold on recession odds, long-term forecast

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Employee compensation to rise this year

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The majority of senior executives and managers expect compensation to their subordinates to increase this year. More than three-quarters (77 percent) of business leaders expect to increase employee compensation, based on responses to a nationwide survey of 251 senior executives and managers conducted by NFI Research. More than half cite business conditions (57 percent) and… Continue Reading Employee compensation to rise this year

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Cable damage cuts Middle East Internet service

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The Associated Press Internet outages disrupted business and personal usage across a wide swath of the Middle East on Wednesday after an undersea cable in the Mediterranean was damaged, government officials and Internet service providers said. In Cairo, the Ministry of Communications and Information Technology said the cut in the international communications cable had led… Continue Reading Cable damage cuts Middle East Internet service

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The Colorado Department of Corrections’ southern Colorado office expects to begin an official search for a new location by the end of the year. The regional headquarters is at 2862 Janitell Road in Colorado Springs, where the agency leases the entire 65,000-square-foot building. That lease expires during 2010. A request for proposals will be distributed… Continue Reading Department of Corrections seeking expanded facility

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More than 2.2 million foreclosure filings were reported nationally during 2007, an increase of 75 percent compared to 2006. RealtyTrac’s 2007 U.S. Foreclosure Market report also shows that more than 1 percent of all U.S. households were in some stage of foreclosure during the year, up from 0.58 percent during 2006. Nearly 216,000 foreclosure filings… Continue Reading Nearly 2 percent of all Colorado homes in foreclosure

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XAware receives $7.4 million in venture funding

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XAware Inc. has completed a $7.4 million round of venture funding. The additional capital will enable the company to continue the growth of its open source business model. The round was led by vSpring Capital. Firms participating included new investor GMT Capital, a $3.5 billion hedge fund based in Atlanta, and existing investors vSpring Capital,… Continue Reading XAware receives $7.4 million in venture funding

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