IM­PORTS PUSH TRADE GAP TO $55.5 BIL­LION

The Denver Post - - BUSINESS -

Record im­ports in Oc­to­ber drove the U.S. trade deficit to the high­est level in a decade.

The Com­merce De­part­ment said Thurs­day the gap be­tween the United States sells and what it buys from for­eign coun­tries hit $55.5 bil­lion in Oc­to­ber, the fifth con­sec­u­tive in­crease and high­est since Oc­to­ber 2008.

Sur­vey: Busi­nesses added 179,000 jobs last month. TON»

W A S HI N G

U.S. busi­nesses hired new work­ers at a solid pace in Novem­ber, ad­ding 179,000 jobs, ac­cord­ing to a pri­vate sur­vey.

Pay­roll pro­ces­sor ADP said Thurs­day that last month’s job gains slowed from Oc­to­ber’s strong show­ing of 225,000. Still, Novem­ber’s hir­ing is enough to lower the un­em­ploy­ment rate over time.

Sears’ big­gest holder bids $4.6B for rest of bank­rupt chain.

N EW

YORK» Ed­die Lam­pert and his ESL Hold­ings hedge fund are of­fer­ing to buy the rest of Sears for up to $4.6 bil­lion in cash and stock in a move to stave off liq­ui­da­tion.

Sears filed for Chap­ter 11 bank­ruptcy pro­tec­tion in Oc­to­ber, weighed down by years of de­clin­ing sales and mas­sive debt.

Av­er­age mort­gage rates drop; 30-year loan at 4.75%. TON» U.S.

W A S HI N G

long-term mort­gage rates fell this week amid a steep de­cline in stock prices.

Mort­gage giant Fred­die Mac said Thurs­day the av­er­age rate on the bench­mark 30-year, fixed-rate mort­gage dipped to 4.75 per­cent from 4.81 per­cent last week. The key rate stood at 3.94 a year ago.

The rate on 15-year fixed-rate loans de­clined to 4.21 per­cent from 4.25 per­cent the pre­vi­ous week.

Fron­tier pi­lots to vote on pro­posed con­tract over hol­i­days.

Fron­tier Air­lines pi­lots will be vot­ing on whether to ac­cept a new con­tract pro­posal over the hol­i­days.

Union spokesman Capt. Alan Christie says vot­ing will be­gin Dec. 20 and wrap up Jan. 10.

Lyft aims to beat Uber to stock mar­ket with IPO.

» Lyft hasn’t caught up to Uber in the rapidly grow­ing ride-hail­ing mar­ket, but it’s ahead in the race to sell its stock on the pub­lic mar­ket.

The San Fran­cisco com­pany took the first step to­ward list­ing its shares on the U.S. stock mar­ket by fil­ing con­fi­den­tial doc­u­ments for an ini­tial pub­lic of­fer­ing. The fil­ing, an­nounced by Lyft on Thurs­day, is ex­pected to be­come pub­licly avail­able early next year.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.