New-home sales soared in June
With buyers spurred by lower prices, new-home sales soared a stronger-than-expected 11 percent in June, the biggest increase since November 2008. Still, sales for the latest 12-month period are down more than 21 percent.
Banks raise rates and fees to beat new law
Banks are hustling to beat a new law sharply limiting their ability to raise credit-card interest rates and fees. Before the law takes effect in February, banks such as Chase and Bank of America are switching cards from fixed to variable rates and socking cardholders with higher fees for cash advances, foreign purchases, and other services.
The Boston Globe
Electronic books join best-seller list
Electronic books have officially arrived. USA Today’s best-seller list now includes data on sales of books for the Kindle electronic reader, as well as sales of conventional paper books.
The Wall Street Journal
Circulation revenue outstrips ad revenue at the Times
The New York Times’ circulation revenue this quarter is expected to surpass its advertising revenue for the first time ever. In pre-Internet days, the Times’ ad revenue typically outstripped revenue from subscriptions and newstand sales by a 3-to-1 margin.
Columbia Journalism Review
100,000 nursing jobs remain vacant
Despite a national unemployment rate approaching 10 percent, more than 100,000 U.S. nursing jobs are going unfilled. In response, Rep. Robert Wexler of Florida has introduced a bill that would allow 20,000 foreign nurses annually to enter the U.S. for the next three years.