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Dow Hits Five-year High on Jobs Report

avatar By Jeanne Goddard

07 Oct 2012 36 views
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Dow Hits Five-year High on Jobs Report
The Dow Jones industrials index climbed to its highest level in nearly 5 years on Friday, after a surprise drop in the unemployment rate pointed to continued improvement in the labor market. The S&P 500 rose for a fifth straight day and was also on course to close near a 5-year high.

The Dow Jones industrials index climbed to its highest level in nearly 5 years on Friday, after a surprise drop in the unemployment rate pointed to continued improvement in the labor market.

The S&P 500 rose for a fifth straight day and was also on course to close near a 5-year high. The index has appreciated nearly 17 percent so far this year, and is on track for its best yearly gain since 2009, when stocks rebounded after the financial crisis.

(READ the Reuters story from Fox Business)

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# Business

Billions Earned for US Treasury From AIG TARP Repayment

The controversial government bailout of the huge global insurer, AIG, during the worst days of the financial crisis in 2008, will yield billions of profit for the US treasury and taxpayer. The treasury department announced Tuesday that it will sell 234 million shares in American International Group (AIG), bringing the estimated profit on the original AIG TARP assistance to $22.7 billion.

# Business

GM Announces Investment of $67 Million in US Car Plants in Ohio, Kansas

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# Business

College Class Builds Apps — and Fortunes

Stanford students took seriously their homework assignment in the fall of 2007: Devise an app. Get people to use it. The students ended up getting millions of users for free apps that they designed to run on Facebook. And, as advertising rolled in, some of those students started making far more money than their professors.

# Business

The UK's Top Young Entrepreneurs to Look Out For in 2012

With the sluggish British economy, it's never been more difficult for young people to get a job. In fact for many graduates and teens, finding their way into employment can often feel like an impossible challenge rather than a right of passage. Despite research that suggests a 21% unemployment rate for this age group, there are still many ambitious young people who are creatively making their way in the world. Their persistence, initiative and success in times of such economic difficultly are doubly inspiring. Here are some of the top young entrepreneurs to look out for this year and the dynamic, forward thinking companies that have seen them make their fortune.

# Business

Houston Bar Gives 100% of Profits to Charity. Period.

The Original OKRA Charity Saloon in downtown Houston operates a lot like other taverns. Booze is purchased and poured, bartenders get paid and take home tips. But the owners give all their profits away. Proceeds from OKRA's are donated to a different Houston-based organization each month. With every drink purchased, bar patrons vote on which charity is chosen from among four new nominees each month.

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