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Jobs picture still alarming

Thursday, September 08, 2011 - 01:04

Sept 8 - Summary of business headlines: Jobless claims rise; Trade deficit narrows; Mortgage rates drop to record lows; Apple battles Samsung in Japan. Bobbi Rebell reports.

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PLEASE NOTE: THIS EDIT CONTAINS 4:3 MATERIAL The number of Americans filing new claims for jobless benefits rose unexpectedly last week. It's just more proof of the dire employment picture ahead of President Obama's address to Congress on job creation Thursday evening. But some encouragement - a separate report showed the trade deficit narrowed more than expected in July. That's a positive signal for economic growth in the third quarter after a sluggish first half of the year. The average mortgage rate reaches a record low. According to Freddie Mac, a 30-year fixed rate loan now averages 4.12 percent. Apple is asking Japan to stop selling some Samsung electronics in that country. In a suit filed with the Tokyo District Court, Apple accuses its rival of violating patents relating to the iPhone and the iPad, according to a source close to the matter. Bobbi Rebell, Reuters.

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Jobs picture still alarming

Thursday, September 08, 2011 - 01:04