US Markets down ... Fewer Americans apply for unemployment ... US economy grows at brisk rate in Q2August 28, 2014 @ 7:40 am
NEW YORK (AP) -- Worsening tensions in Ukraine are sending markets lower, overshadowing an encouraging report on U.S. economic growth. At 10:35 a.m., the Dow Jones industrial average fell 69 points to 17,054. The S&P 500 fell six points to 1,994. And the Nasdaq composite fell 15 points, to 4,554.
WASHINGTON (AP) -- One-thousand fewer Americans applied for unemployment benefits last week compared to the week before. The figure of 298,000 applications is a low level that signals employers are cutting few jobs and hiring is likely to remain strong.
WASHINGTON (AP) -- After a bleak start to the year, the U.S. economy rebounded vigorously in the April-June quarter, growing at a brisk annual rate of 4.2 percent. That's slightly faster than first estimated. The upward revision by the Commerce Department supports expectations that the second half of 2014 will prove far stronger than the first half. The initial estimate was 4 percent.
TEWKSBURY, Mass. (AP) -- Workers at the New England supermarket chain Market Basket are cheering the return of former CEO Arthur T. Demoulas (deh-MOO'-lahs), following a feud with his cousin that saw him fired. Demoulas announced Wednesday that an agreement has been reached for him to buy majority stake in the business. The deal is expected to take several months. There was uproar after Demoulas' firing weeks ago, with workers revolting and customers boycotting the business.
NEW YORK (AP) -- Dollar General Corp. says it still wants to buy rival Family Dollar, even though its nearly $9 billion offer was rejected by the discount retailer last week. ," Dollar General CEO Rick Dreiling says, "We remain firmly committed to the acquisition." Last week, Family Dollar rejected Dollar General's $8.95 billion offer in favor of a slightly smaller one from rival Dollar Tree Inc. for about $8.5 billion, saying the deal with Dollar General, the nation's largest dollar-store chain, would be too hard to get approved by antitrust regulators.
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