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Dell Streak tablet, smaller than an iPad, doubles as a phone
By Edward C. Baig, USA TODAYThe iPad has energized the market for tablet computers, paving the way for an expected onslaught of slate-type devices.
The Dell Streak that I’ve been testing for a few days is a tablet, too. And that’s pretty much where comparisons with the iPad cease.
Oh, sure, folks will ask the same basic question of the Streak that they asked before the iPad appeared: Is there room for a slate that’s larger than a smartphone › Continue reading
Stocks plunge more than 2.5% on continued pessimism
By Stephen Bernard and Seth Sutel, Associated PressNEW YORK — Investors are finding disappointment everywhere and taking out their frustration on stocks.
Stocks slumped Friday after banks’ second-quarter earnings fell short of expectations and a new survey found that consumers are becoming more pessimistic. The Dow Jones industrial average lost 261 points, and all the major market indexes dropped more than 2.5%. Interest rates fell in the › Continue reading
Retail sales drop 0.5% in June, worse than expected
By Martin Crutsinger, AP Economics WriterWASHINGTON — Retail sales fell in June for the second straight month, the Commerce Department reported Wednesday.
Retail spending dropped 0.5% in June, the Commerce Department reported Wednesday. That followed a 1.1% fall in May. Excluding autos, spending was down 0.1% in June.
Much of the weakness last month came from a drop in auto sales and a decline in gasoline prices. Excluding autos › Continue reading
ISM’s manufacturing index grows faster than expected
By Martin Crutsinger, AP Economics WriterWASHINGTON — A private trade group said the U.S. manufacturing sector expanded in May, marking the 10th consecutive month of growth.
The Institute for Supply Management, a trade group of purchasing executives, said Tuesday its manufacturing index dipped to 59.7 in May from 60.4 in April. A level above 50 indicates expansion.
The modest dip led to a rally on Wall Street.
“We haven’t › Continue reading
Do you use more energy than your neighbors?
By Julie Schmit, USA TODAYMore than 1 million U.S. households now receive reports on how their energy consumption compares with their neighbors as utilities encourage conservation, some with smiley faces for those doing well.
The reports — deployed by 25 utilities, including six of the 10 biggest — have resulted in households cutting energy use an average of 2% to 3%, says Alex Laskey, co-founder of Opower, which provides the reports.
More than 900 car dealers try to get businesses back
By Tom Krisher, AP Auto WriterDETROIT — Michael Wolf is taking a big gamble that he can convince an arbitrator to give him back his Chrysler-Jeep dealership.
He’s among more than 900 car dealers nationwide who have signed up to appeal decisions by General Motors or Chrysler Group to revoke their franchise agreements and shut them down.
Wolf and his wife have owned Wolf Motor Car for 22 years in Plymouth, Wis., halfway between › Continue reading
Stocks sink again as Dow drops more than 4% for the week
By Stephen Bernard and Tim Paradis, Associated PressNEW YORK — The stock market suffered its worst setback in more than 10 months this week as investors decided no matter what the news, it must be bad.
The Dow Jones industrial average slid 216 points, or 2.1%, on Friday its fourth big drop in five trading days. Wednesday-Friday, the Dow lost 552 points, or 5.2%. All the major indexes fell more than 2% Friday.
Investors continued › Continue reading
2 Great Reasons Credit Cards Are Better Than Cash
It is not my job to promote credit cards.  Regular readers of this column know that I have been highly critical of the credit card industry in the past.   That said, using a credit card is still highly advantageous.   Just when I thought that I knew all of the reasons that credit card use is better than cash, today I learned a couple new ones.
Counterfeit Money
Until now, I really just thought › Continue reading
New jobless claims inch higher, but they’re lower than expected
From staff and wire reportsWASHINGTON — The number of people claiming unemployment benefits for the first time barely rose last week, after two weeks of sharp drops, further evidence that layoffs are easing.
The Labor Department said Thursday initial claims for jobless benefits rose 1,000 to a seasonally adjusted 434,000 last week. That’s lower than the 447,000 that analysts expected, according to Thomson Reuters.
Initial claims › Continue reading
Will the next decade be better for stocks than this one?
By John Waggoner, USA TODAYIn the next month or so, you’ll be reading a lot about “The Lost Decade,” and it doesn’t have anything to do with your career as lead guitarist for Deth Böngö. The Lost Decade refers to the past 10 years of stock returns, which have been wretched.
The question: Do the past 10 years mean that the next 10 years will be any better for the stock market? Not necessarily. But you can use the notion that the last › Continue reading