Generation Y's rough road
Members of Generation Y—today’s teens and 20-somethings—are likely to be the first generation in U.S. history to end up financially less well-off than their parents, studies suggest. Forty-nine percent lack health insurance, 39 percent were jobless at some point during the recession, and nearly 42 percent don’t pay their monthly bills on time.
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Federal tax credit spurs new-home sales
New-home sales jumped 27 percent in March, as buyers rushed to sign deals before a federal tax credit expires. To qualify for the credit of as much as $8,000, first-time home buyers must go to contract on a house by April 30.
The Wall Street Journal
DeBeers to cut diamond production
Warning that the supply of diamonds is running out, DeBeers, the world’s largest diamond producer, says it will cut production. The company says that beginning in 2011, it will produce about 40 million carats a year, down from 48 million in 2008.
Financial Times
Sales up at Sears
For the first time since 2004, sales at Sears’ U.S. department stores are growing. The company reports that at stores open a year or more, sales are up 1.7 percent so far in the current quarter.
Marketwatch.com
Craigslist nets a few Gambinos
Craigslist, the online classified-ads service, will make an estimated $36 million this year on sex-related advertising. Last week, 14 alleged members of the Gambino crime family were indicted on charges that included attempting to sell underage girls through Craigslist.
The New York Times
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The bottom linefeature Working families continue to struggle; The least-trusted industries; The bestselling vehicle; Mobil device use triples; Global unemployment among the young
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The bottom line
feature The cost of e-filing; Dipping into nest eggs early; What Americans are drinking; Planning for death; How tax refunds are spent
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The bottom line
feature Building bigger houses; And tuition at OSU is?; Christmas at McDonald's; Self-gifting at Christmas; Lloyd’s prepares for Hurricane Sandy claims; Google's billions
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The bottom line
feature Good results for the third quarter; Compensation at financial firms hits a high; Three cities with recovering economies; Good year for car sales; Broadway's best performance ever; Tax bite is less in 2010 than in 1980
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The bottom line
feature Airlines cut domestic flights; Income up in small cities and rural areas; Bond and Lincoln lift box office earnings; Don't be fooled by Black Friday; The high toll of identity theft
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The bottom line
feature The gender pay gap; U.S. economic growth; Parents who argue about money; Online subscriptions rise
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The bottom line
feature Can the U.S. keep up?; Airlines spend billions on runway taxiing; Americans exaggerate their working hours; The Dow Jones's 67.9 percent gain; Success and summer babies
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The bottom line
feature Consumer confidence jumps; Wall Street cuts jobs, raises pay; Goldman Sachs's muppet hunt; Desktop web searches decline; Pizza Hut scraps debate freebie