Tag Archives: business news

Economy adds 171K jobs, unemployment rate rises to 7.9 pct.

WASHINGTON — U.S. employers added 171,000 jobs in October, and hiring was stronger in August and September than first thought. The solid job growth showed that the economy is strengthening slowly but consistently. The unemployment rate rose to 7.9 percent ...

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Builders boost September spending 0.6 percent

WASHINGTON — U.S. builders spent more on home construction in September, a gain that helped offset weakness in nonresidential building and government projects. Construction spending grew 0.6 percent compared to August when spending had fallen 0.1 percent, the Commerce Department ...

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Storm’s cost may hit $50B; rebuilding to ease blow

WASHINGTON — Superstorm Sandy will end up causing about $20 billion in property damages and $10 billion to $30 billion more in lost business, according to IHS Global Insight, a forecasting firm. In the long run, the devastation the storm ...

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Penguin, Random House announce merger

LONDON — Two of the world’s biggest publishing houses are to link up in a deal that will bring the writings of classics like George Orwell’s ‘1984’ and this year’s literary phenomenon ‘Fifty Shades of Grey’ under one umbrella. Confirmation ...

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Coventry Health 3Q profit falls 14 pct, costs rise

BETHESDA — Coventry Health Care Inc.’s third-quarter net income dropped 14 percent, as the health insurer’s medical costs and other expenses outweighed revenue gains from an expansion of its Medicaid business. The Bethesda-based company earned $105.3 million, or 78 cents ...

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