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Fed signals future rate cuts

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The Associated Press WASHINGTON_Federal Reserve Chairman Ben Bernanke warned Congress that the nation is in for a period of sluggish business growth and sent a fresh signal today that interest rates will again be lowered to steady the teetering economy. “The economic situation has become distinctly less favorable” since the summer, the Fed chief told… Continue Reading Fed signals future rate cuts

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Drop in jobless claims seen as temporary

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Associated Press WASHINGTON_ The number of newly laid off workers filing claims for unemployment benefits fell last week, but the larger-than-expected drop was seen as only a temporary improvement. The Labor Department reported Thursday that the number of jobless claims dropped by 9,000 last week to a total of 349,000. While that was bigger than… Continue Reading Drop in jobless claims seen as temporary

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Consumer prices on the rise again

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The Associated Press Consumer prices rose by a bigger-than-expected amount in January, reflecting big increases in the cost of food and health care, the government reported Wednesday. The Labor Department said that its’ closely watched Consumer Price Index posted a gain of 0.4 percent last month, matching the December increase and was higher than economists… Continue Reading Consumer prices on the rise again

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Industrial production rises in January

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The Associated Press WASHINGTON _The nation’s industrial output posted a modest increase in January as strength at utilities offset weakness in manufacturing and mining. The Federal Reserve reported Friday that industrial production rose by 0.1 percent in January, matching the December increase. The slight January gain was in line with economists’ expectations. Manufacturing output was… Continue Reading Industrial production rises in January

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Slow economy, slow TV sales

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The Associated Press MINNEAPOLIS_Best Buy said a slowing economy will hurt fourth-quarter profits and it reduced its guidance, as consumers held back on high-end TVs, digital music players and cameras. The nation’s largest consumer electronics retailer said holiday sales were strong but fell off in January. Comparable-store sales rose 1.5 percent in December, but they… Continue Reading Slow economy, slow TV sales

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Colorado’s small businesses insulated

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Despite national declines in net jobs, the Vectra Bank Colorado Small Business Index for Colorado rose during January to 95.6 – up from 94.3 in December. “January’s Small Business Index was significantly influenced by three main factors,” said Jeff Thredgold, corporate economist for Vectra Bank Colorado. “On one side, pulling the index downward was the… Continue Reading Colorado’s small businesses insulated

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U.S. Trade deficit fell in 2007

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The Associated Press WASHINGTON _ Despite a soaring foreign oil bill and another record deficit with China, the overall U.S. trade deficit declined in 2007 after setting records for five consecutive years. The Commerce Department reported Thursday that the deficit dropped to $711.6 billion last year, a decline of 6.2 percent. The trade deficit with… Continue Reading U.S. Trade deficit fell in 2007

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Coca-Cola profit up 79 percent

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The Associated Press The Coca-Cola Co., the world’s biggest beverage maker, said today its fourth-quarter profit rose 79 percent on a double-digit increase in sales as it benefited from growth in key soft-drink brands and in its water, sports drink and orange juice categories. The Atlanta-based company said it earned $1.21 billion, or 52 cents… Continue Reading Coca-Cola profit up 79 percent

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Despite gas prices, waste hauler turns profit

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The Associated Press Waste Management Inc., the nation’s largest garbage hauler, said Wednesday its fourth-quarter profit rose 26 percent on tax benefits and the sale of some operations, though higher fuel prices cut into income. The company said earnings rose to $309 million, or 61 cents per share, in the three months ended Dec. 31… Continue Reading Despite gas prices, waste hauler turns profit

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More than 116,000 U.S. jobs and nearly $19 billion in investment could be lost in a single year if renewable energy tax credits are not extended by Congress. Navigant Consulting found that more than 76,000 jobs are at risk in the wind industry, in addition to about 40,000 in the solar industry. Colorado is one… Continue Reading Loss of renewable energy tax credit would cost jobs, billions in investment

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