Finance news

Indonesia's central bank may raise its benchmark interest rate for a third straight month to slow inflation that is forecast to reach a 21-month high in June.
Governor Boediono and his seven colleagues will increase the key rate to 8.75 percent from 8.5 percent, according to 14 of 18 economists in a Bloomberg survey. […]

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U.S. consumer spending jumped last month as government stimulus checks boosted household budgets and pushed the saving rate to a 13-year high, but another report released on Friday showed confidence took a hit.
Commerce Department data showed U.S. personal spending rose by a greater-than-expected 0.8 percent in May, while a key gauge of inflation […]

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Japan's household spending slumped in May, the ratio of jobs available fell to a three-year low and the inflation rate almost doubled, signaling that the economy's longest postwar expansion may be over.
Household spending declined 3.2 percent, the most since September 2006, the statistics bureau said today. Core consumer prices, which exclude fruit, fish […]

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Apollo Group Inc. has lost three top executives to Grand Canyon University, a private Christian college in the process of going public.
Brian Mueller, president and director of Phoenix-based Apollo Group, submitted his resignation June 24, and is heading to Grand Canyon as CEO. Going with him to the Phoenix-based college is Stan Meyer, […]

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The majority of AAA Hawaii members are planning to take at least the same amount of vacations this summer as compared with last year, despite record gas prices and economic concerns.
A recent survey showed that 59 percent of AAA Hawaii members plan to travel the same amount this summer, while 13 percent […]

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What's good news for U.S. businesses may turn out to be bad news for Federal Reserve Chairman Ben S. Bernanke's fight against inflation.
The surging oil prices that are raising exporters' costs to ship everything from steel to sofas to America are encouraging customers to buy more domestically made goods — and giving the […]

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California and Florida endured the biggest job losses in May, reflecting the slump in housing and slowdown in consumer spending.
The payroll count in California dropped by 10,900 last month, led by a 9,600 decline in construction jobs, the Labor Department reported today in Washington. Employers in Florida cut 6,000 workers, with payrolls in […]

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The U.S. Department of Labor has awarded a $2.4 million grant to the N.C. Department of Commerce to assist autoworkers affected by permanent closures and layoffs.
Many of the workers also have been previously certified as eligible for Trade Adjustment Assistance, which provides financial aid and retraining to workers laid off by companies […]

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Asia and Europe are better placed than others to cope with the global economic slowdown, according to officials attending a meeting of finance ministers from the two regions in Jeju, South Korea.
The two areas “have good fundamentals to weather in better condition than others these difficulties,'' European Union Economic and Monetary Affairs Commissioner […]

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The warm, sunny weather boosted Hawaii’s papaya production in April.
Fresh papaya output was estimated at 2.6 million pounds for April, up 4 percent from 2.5 million pounds in March and up 7 percent from 2.4 million pounds in April 2007, the National Agricultural Statistics Service Hawaii Field Office said Thursday online payday […]

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