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Business/Economy

  • Stocks mixed as oil rises, jobless claims fall

    NEW YORK (AP) — Stocks wavered between gains and losses Thursday as investors weighed good news on the job market against increasingly violent protests in Libya.

    The Labor Department said fewer people applied for unemployment benefits last week, a sign that the job market is recovering. The four-week average for applications, a figure closely watched by financial analysts, fell to the lowest level in more than two and a half years.

  • Local business to be recognized at NM SBDC Day

    Of the 21 firms to be honored during the 13th Annual New Mexico Small Business Development Center Day, which will be held Friday, there will be a familiar name recognized.
    Paul Terp and Lee Bernstein of Strategic Management Solutions, LLC will be among the outstanding business clients recognized. Strategic Management Solutions is a client of the UNM-Los Alamos SBDC.
    Incoming NMSBDC State Director Michael A. Rivera chose the firms. He said, “This day honors the hard work and dedication of all small business in the state of New Mexico.”

  • House works on trimming film incentives

    SANTA FE — Lawmakers are trying to reach a compromise with Republican Gov. Susana Martinez on a $5.4 billion state budget and a proposal to trim the state’s film incentives, House Speaker Ben Lujan said Tuesday.
    Lujan said a proposal is being developed to limit the amount of subsidies provided yearly for film production in the state. There also could be new restrictions on the type of film expenditures that qualify for a tax break. The film subsidies cost the state about $65 million last year.

  • Unions rally at NM Capitol, object to budget cuts

    SANTA FE, N.M. (AP) — Labor unions are flexing their political muscle in New Mexico against proposed budget cuts and in defense of collective bargaining rights.

    Several hundred people rallied at the Capitol on Tuesday in support of union workers in Wisconsin, which are protesting a plan by the Republican governor to roll back public employees' rights to negotiate benefits and working conditions.

  • Looking for a credit card? It pays to be rich

    NEW YORK (AP) — It pays to be rich if you need a credit card.

    A year after sweeping credit card regulations upended the industry, banks are showering perks and rewards on big spenders with sterling credit scores. And they're socking customers with spottier histories with higher interest rates, lower credit limits and new annual fees. In some cases the riskiest customers are being dropped altogether.

  • Grand Opening

    KRSN AM 1490 hosted a FAN Club and the Los Alamos Chamber of Commerce held a ribbon cutting ceremony for the radio station’s new location in the Hilltop Shopping Center on Arkansas Street Wednesday evening. KRSN owners Gillian and David Sutton had their daughter Michaelle cut the red ribbon .

  • Unemployment benefits jump to 410,000

    WASHINGTON (AP) — More people applied for unemployment benefits last week, one week after claims had fallen to the lowest level in nearly three years.

    The big drop a week earlier had occurred largely because bad weather in many parts of the country had kept people from applying for benefits.

  • Unemployment numbers spike after one-week lull

    WASHINGTON (AP) — More people applied for unemployment benefits last week, one week after claims had fallen to the lowest level in nearly three years.

    The big drop a week earlier had occurred largely because bad weather in many parts of the country had kept people from applying for benefits.

    The Labor Department said Thursday that 410,000 people sought unemployment assistance last week, a jump of 25,000 from the previous week. The rise was much larger than economists had expected.

  • Stocks rise after strong earnings, deal news

    NEW YORK (AP) — Strong earnings results and another round of corporate deals led stocks higher Wednesday.

    Family Dollar rose 24 percent in early trading after activist investor Nelson Peltz's firm offered to pay up to $60 a share to take the discount retailer private. That was a 36 percent premium from Tuesday's closing price. Family Dollar rose the most of any stock in the Standard & Poor's 500 index.

  • Borders files for Ch. 11 bankruptcy protection

    NEW YORK (AP) — Bookseller Borders, which helped pioneer superstores that put countless mom-and-pop bookshops out of business, filed for bankruptcy protection Tuesday, sunk by crushing debt and sluggishness in adapting to a rapidly changing industry.

    The 40-year-old company plans to close about 200 of its 642 stores over the next few weeks. All of the stores closed will be superstores, Borders spokeswoman Mary Davis said. The company also operates smaller Waldenbooks and Borders Express stores.