New US Jobless Claims Drops to 631,000
The US Labor Department reported today the the number of new jobless claims fell to 631,000 last week, down from the previous week’s total of 645,000. The total number of people receiving benefits has now reached 6.3 million. More
US Consumer Spending Falls 0.2%
Despite predictions of a 0.1 percent drop, consumer spending for the month of March actually fell by 0.2 percent according to the latest results from the Commerce Department. The news broke a string of three consecutive months of positive consumer spending. More
Deadline for Chrysler Looms
Chrysler has until midnight tonight to complete a deal with a group of its debtholders in order to receive more bailout money from the US government. Chrysler earlier reached an agreement with its workers and appears to have a deal in place with Fiat – both of which were required by the Treasury department – but a deal on the company’s outstanding debt appears to be headed for a photo finish. More
Loonie Hits Three-Month High
The Canadian dollar surged more than a cent against the US dollar yesterday and continued to make gains overnight hitting highs of 84.29 US cents. More
