BUSINESS NOTES AFTER-CHRISTMAS SALES MODERATE.Despite massive discounts in after-Christmas sales, consumers continued moderate spending Tuesday, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. TeleCheck Services Inc. Traditionally one of the biggest retail days of the year, the day after Christmas in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. saw only a 3.1 percent increase in sales over the same day last year, the Houston-based company reported Wednesday. Nationally, sales were up 3.1 percent over 1999. - Daily News Economic growth continues to slow NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - Uneasy consumers might not find much to soothe their fears in the first part of the coming year as economic growth continues to slow, according to the latest report on the health of the economy. The New York-based Conference Board said Wednesday that its Composite Index Composite Index A grouping of equities, indexes or other factors combined in a standardized way, providing a useful statistical measure of overall market or sector performance over time. Also known simply as a "composite". of Leading Economic Indicators Leading economic indicators Economic series that tend to rise or fall in advance of the rest of the economy. declined 0.2 percent in November, suggesting that economic growth will continue to slow through the first part of 2001. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Jack In Box opens Van Nuys location VAN NUYS - Jack In the Box restaurants on Wednesday opened a new restaurant at 6351 Sepulveda Blvd., a 22-seat eatery with a drive-through, that employs about 40 local residents, the company said. The San Diego-based chain selected the site, now one of three in the area and among 756 in California, because of nearby residences, daytime employment and traffic. - Daily News FedEx announces shipping rate hike MEMPHIS Memphis, city, ancient Egypt Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn. - FedEx Corp. announced a 4.9 percent increase in U.S. air express shipment rates effective Feb. 1. Rates for shipments abroad will increase an average of 2.9 percent. FedEx said last week that it has implemented cost controls to combat historically high fuel prices, and the company warned that earnings will be hurt by a slowing economy. - Associated Press Dot.com layoffs rise in December NEW YORK - The list of layoffs at Internet firms continued to grow in December, increasing 19 percent from November, a new study released Wednesday said. Dot-com companies eliminated 10,459 positions from their payrolls, up from 8,789 in November, for a total of 41,515 since last December, according to the report by outplacement out·place·ment n. The process of facilitating a terminated employee's search for a new job by provision of professional services, such as counseling, paid for by the former employer. firm Challenger Gray & Christmas. Most of the job losses occurred at dot-com companies that specialize in services such as consulting, finances and information. Internet retail firms saw the second-largest number of cuts. - Associated Press Ford settles seven Explorer claims MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. - Ford Motor Co. is moving quickly in Explorer crashes blamed on Firestone tire failures, agreeing to settlements on seven legal claims involving deaths and injuries, lawyers said Wednesday. Bruce Kaster, a leading lawyer in defective tire cases, said Ford expressed ``heartfelt condolences,'' apologies and expressions of embarrassment about tire quality problems in settling six cases he was handling. Ford also settled a related seventh claim handled by another lawyer. The agreements called for the settlement amounts to remain confidential. - Associated Press Software maker shares take dive SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. - Shares of Network Associates Inc. plummeted nearly 62 percent Wednesday after the software maker warned it expects to report a loss for the fourth quarter and for the year and said three top executives have resigned. Network Associates estimates said late Tuesday that it will lose $130 million to $140 million in the quarter ending Sunday. Revenues for the period are expected to be between $55 million to $65 million, the company said. - Associated Press |
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