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Wednesday, October 17, 2012

Reuters Money: Housing starts surge in positive sign for economy

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10/17/2012
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Housing starts surge in positive sign for economy
WASHINGTON (Reuters) - Groundbreaking on new homes surged in September to its fastest pace in more than four years, a sign the housing sector's budding recovery is gaining traction and supporting the wider economic recovery.
U.S. holiday spending to show a scant rise in 2012: survey
(Reuters) - Consumers plan to spend an average of $749.51 on gifts, decorations and other holiday items this season, a mere 1.2 percent more than a year ago, according to a survey conducted for the National Retail Federation.
BofA posts slim profit despite settlement, charges
(Reuters) - Bank of America Corp eked out a third-quarter profit even after taking $1.6 billion of litigation charges, as the second-largest U.S. bank set aside less money to cover bad loans.
Should you dump your 529 college savings plan?
NEW YORK (Reuters) - When is it worth switching to a better 529 college savings plan, and when isn't it?
New York construction spending rises to $30.7 billion in 2012: report
(Reuters) - Spending on New York City non-residential building projects is expected to reach a record $12.6 billion in 2012, pushing up overall construction spending a surprising 9.0 percent to $30.7 billion, an industry group said on Wednesday.
PepsiCo keeps 2012 outlook despite quarterly beat
(Reuters) - PepsiCo Inc stood by its full-year forecast on Wednesday despite beating earnings expectations in the third quarter as it pours money back into its business.
Analysis: UK record challenges link between corporate tax cuts and jobs
MARKET BOSWORTH, England (Reuters) - When precision engineer JJ Churchill bought costly new machinery and recruited workers to operate it, the firm was doing the bidding of successive British governments - investing in high value manufacturing and creating skilled jobs.
Amid drilling boom, U.S. states rush to update laws: Kemp
LONDON (Reuters) - Legislatures in 34 U.S. states, from Alaska and California to Kentucky and Maryland, have enacted no fewer than 94 separate laws relating to oil, gas and coal so far this year, as the surge in exploration and production pushes fossil fuels high up the agenda for state lawmakers.
Global wealth falls for first time since financial crisis
PARIS (Reuters) - The combined wealth of all individuals has fallen this year for the first time since the financial crisis of 2007-08, with a drop in austerity-hit Europe outweighing a small increase in China, a Credit Suisse report has found.
Seniors spend hundreds unnecessarily on Medicare: study
(The writer is a Reuters columnist. The opinions expressed are his own. For more from Mark Miller, see http://link.reuters.com/qyk97s)
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