NEW YORK (AP) — Stocks moved cautiously higher with investors happy about an improved jobless report, but worried about the possibility of higher interest rates. The Labor Department says the unemployment rate fell 10 percent last month. That, in turn, fueled fears that the Federal Reserve could hike rates or remove other supports from the economy sooner than expected.
ALLENTOWN, Pa (AP) — President Barack Obama says he's putting finishing touches on a proposal to "jump-start" business hiring. The president told a group in Allentown, Pa, he plans to unveil the proposal next week. A senior administration official says Obama will endorse sending new money to state and local governments to stem their layoffs and new tax breaks for small businesses that hire workers.
ALLENTOWN, Pa. (AP) — President Barack Obama says he hopes to see financial regulatory reforms in place by early next year. But he says banks are trying to stand in the way. Obama says there needs to be a consumer watchdog with some "teeth." That way consumers won't be victimized by credit card companies boosting rates, or by loans with unexpected fine print.
UNDATED (AP) — Two airlines, two very different reports. Southwest Airlines says November traffic jumped almost 12 percent over the same month last year. Meanwhile, Delta Air Lines says its November traffic fell 7 percent. That's the biggest drop among the major U.S. carriers. United Airlines and Continental had gains, while U.S. Airways and American showed decreases.
RICHMOND, Va. (AP) — In a cost-cutting move, R.J. Reynolds Tobacco is offering buyouts to about 1,800 workers at its North Carolina factories. The company says it does not have a specific number of jobs it hopes to cut. Parent company Reynolds American said it shipped 11 percent fewer cigarettes in the third quarter compared with the same period last year.
