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Business/Economy

  • Earlier deals, longer hours woo Friday shoppers

    NEW YORK (AP) — Thousands of shoppers lined up at Macy's, Best Buy and other stores nationwide to buy everything from toys to tablets on Black Friday despite the economic downturn and some planned protests of the shopping holiday.

    Some stores had crowds rushing in when they opened their doors at midnight — a few hours earlier than they normally do on the most anticipated shopping day of the year. A few that opened on Thanksgiving Day even were filled with shoppers.

  • Turkey day more costly for many

    Some are holding potluck dinners instead of springing for the entire feast. Others are staying home rather than flying. And a few are skipping the turkey altogether.

    On this the fourth Thanksgiving since the economy tanked, prices for everything from airline flights to groceries are going up, and some Americans are scaling back. Yet in many households, the occasion is too important to skimp on. Said one mother: “I don’t have much to give, but I’ll be cooking, and the door will be open.”

    Thanksgiving airfares are up 20 percent this year, and the average price of a gallon of gas has risen almost 20 percent, according to travel tracker AAA. Rail travelers were also affected, with fares on most one-way Amtrak tickets up 2 to 5 percent.

  • Occupy protests cost nation's cities at least $13M

    NEW YORK (AP) — During the first two months of the nationwide Occupy protests, the movement that is demanding more out of the wealthiest Americans cost local taxpayers at least $13 million in police overtime and other municipal services, according to a survey by The Associated Press.

    The heaviest financial burden has fallen upon law enforcement agencies tasked with monitoring marches and evicting protesters from outdoor camps. And the steepest costs by far piled up in New York City and Oakland, Calif., where police clashed with protesters on several occasions.

  • Economy grew at 2 percent rate in third quarter

    WASHINGTON (AP) — The U.S. economy grew more slowly over the summer than the government had earlier estimated because businesses cut back more sharply on restocking of shelves.

    The Commerce Department said Tuesday that the economy grew at an annual rate of 2 percent in the July-September quarter, lower than an initial 2.5 percent estimate made last month. The government also said after-tax incomes fell by the largest amount in two years, reflecting high unemployment and lower pay raises.

    The downward revision was largely because of a lower estimate for inventory rebuilding. Economists believe this could lead to stronger growth in the current quarter, if businesses foresee more demand and restock shelves.

  • Super flop: Deficit-cutting panel gives up--video extras

    WASHINGTON (AP) — Congress' supercommittee conceded ignominious defeat Monday in its quest to conquer a government debt that stands at a staggering $15 trillion, unable to overcome deep and enduring political divisions over taxes and spending.

    Stock prices plummeted at home and across debt-scarred Europe as the panel ended its brief, secretive existence without an agreement. Republicans and Democrats alike pointed fingers of blame, maneuvering for political advantage in advance of 2012 elections less than a year away.

  • New business concept opens in White Rock

    William is an inventor. Janet is a crafter. Bill is a sales rep.  Jonathon operates a business from his home.  Alejandro is a lab researcher who is developing a technology idea in his spare time.  Luann is the president of an active club.  

    One thing they all have in common is that they can now find services at White Rock’s newest business – The Hive.  

  • Consumer spending still sputters

    WASHINGTON (AP) — Consumers are giving a modest lift to the economy. They spent more on autos, electronics and building supplies in October to boost retail sales for the fifth straight month.

    Stronger economic growth helped calm fears that the economy could slide back into a recession. Still, growth would need to be nearly double the third-quarter rate — consistently — to make a significant dent in unemployment.

    The gains provide an encouraging start for the October-December quarter just as separate reports show wholesale prices are flattening and U.S. shoppers are spending more at Wal-Mart, the world's largest retailer.

  • Positron Enters Radioisotopes Market With Acquisition of Manhattan Isotopes

    Positron Corporation (OTCBB:POSC), a molecular imaging company specializing in the field of nuclear cardiology announced today that on Friday Nov. 11, Positron and Manhattan Isotope Technology LLC. (MIT LLC) entered into a binding Letter of Intent to acquire MIT LLC. The transaction will close January 2, 2012 upon execution of final transaction documents.

  • Supercommittee Dems present secret offer to cut deficit by $2 trillion

    WASHINGTON (AP) — Democrats on Congress' supercommittee secretly presented Republicans with a revised deficit-cutting proposal earlier this week that calls for a blend of $1 trillion in spending cuts and $1 trillion in higher tax revenue over the next decade, officials in both parties said Wednesday night, adding that compromise talks remain alive though troubled.

    The previously undisclosed offer scaled back an earlier Democratic demand for $1.3 trillion in higher taxes, a concession to Republicans. At the same time it jettisoned a plan to slow the growth in future cost-of-living increases in Social Security benefits, a provision liberal Democrats oppose.

  • NM biofuels projects gets loan guarantee

    COLUMBUS, N.M. (AP) — The federal government is issuing a loan guarantee to a company that plans to build a $135 million plant in southern New Mexico to produce biofuel from algae.

    The U.S. Department of Agriculture announced the guarantee Monday. It has been in the making since December 2009, when the agency first issued a conditional commitment for an 80 percent guarantee on a $54.5 million loan.

    The financing will help Sapphire Energy, Inc., build and operate an integrated algal biorefinery in Columbus. Federal officials say it's all part of an effort to provide renewable commercial-scale biofuels.