Newspaper article The Florida Times Union

World of Business

Newspaper article The Florida Times Union

World of Business

Article excerpt

NATIONAL

INFLATION GROWS AT SLOWER RATE IN NOVEMBER

Wholesale prices posted their smallest increase in three months in November. Lower costs of heating oil and prescription drugs tempered higher prices for natural gas and fresh vegetables.

The Labor Department reported yesterday that its Producer Price Index, which measures prices paid to factories, farmers and other U.S. producers for their goods, inched up a slim, seasonally adjusted 0.1 percent last month, down from a 0.4 percent rise in October.

In other reports:

The United States' deficit in the broadest measure of trade climbed to a record $113.8 billion in the third quarter, reflecting Americans' robust appetite for foreign goods and more expensive imported oil.

New claims for state unemployment insurance fell sharply last week by a seasonally adjusted 32,000 to 320,000, but still hovered at a level suggesting that the nation's red-hot labor market was cooling.

Business inventories rose by 0.6 percent in October as sales fell, another indication that the economy was slowing.

MICROSOFT WARNS OF DISAPPOINTING EARNINGS

Microsoft Corp. warned yesterday that its second-quarter revenue and profits will be 5 percent to 6 percent lower than previous estimates because of a worldwide slowdown in computer sales. Shares initially fell 6 percent in after-hours trading on the news.

Revenue for the quarter ended Dec. 31 is now expected to be $6.4 billion to $6.5 billion, with earnings per share of 46 cents or 47 cents, Microsoft said in a statement.

Analysts surveyed by First Call/Thomson Financial were expecting 49 cents per share.

Microsoft will report its actual results for the quarter on Jan. 18.

ORACLE BUCKS TREND, ANNOUNCES HIGHER EARNINGS

Computer software giant Oracle Corp. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.