Financial
Job market for college grads better but still weak PDF  | Print |  E-mail
Written by PAUL WISEMAN, AP Economics Writer   
Tuesday, 22 April 2014 14:05

WASHINGTON (AP) — With college commencement ceremonies nearing, the government is offering a modest dose of good news for graduating seniors: The job market is brightening for new grads — a bit.

But finding work — especially a dream job — remains tough for those just graduating. Many are settling for jobs outside their fields of study or for less pay than they'd expected or hoped for.

The Labor Department on Tuesday said the unemployment rate for 2013 college graduates — defined as those ages 20 to 29 who earned a four-year or advanced degree — was 10.9 percent. That was down from 13.3 percent in 2012 and was the lowest since 7.7 percent in 2007. The drop reflects the steady recovery in overall U.S. economic growth and hiring.

But unemployment for recent grads was still higher than the 9.6 percent rate for all Americans ages 20 to 29 last October, when the government collected the numbers.

"I'm finding that all these entry-level jobs are requiring experience I don't have or degrees that are just unattainable right out of college," says Howard Rudnick, 23, who graduated last year in political science from Florida Atlantic University and wound up earning $25,000 a year working for an online shoe company.

Read more...
 
McDonald's profit slips amid weak sales PDF  | Print |  E-mail
Written by CANDICE CHOI, AP Food Industry Writer   
Tuesday, 22 April 2014 10:20

NEW YORK (AP) — McDonald's is fighting to hold onto customers in the U.S.

The world's biggest hamburger chain said sales at established U.S. locations fell 1.7 percent in the first quarter as guest counts fell. The company also saw customer counts decline last year as it struggled to manage an array of new menu items and fend off intensifying competition.

CEO Don Thompson had conceded earlier this year that McDonald's lost some of its "customer relevance" and that it needs to do a better job of underscoring value and service. On Tuesday, the company attributed its U.S. sales performance in the latest quarter to "challenging industry dynamics and severe winter."

The decline was offset by stronger results in Europe, which pushed up global sales at established locations by 0.5 percent. Profit for the first three months of the year fell and missed Wall Street expectations.

The Oak Brook, Ill.-based company said global sales for April are expected to be modestly positive. April would reflect the first full month that Taco Bell has offered its national breakfast menu, which it has pitched a challenge to McDonald's dominance in the morning hours.

Read more...
 
Tesla delivers first China cars, plans expansion PDF  | Print |  E-mail
Written by JOE McDONALD, AP Business Writer   
Tuesday, 22 April 2014 10:22

BEIJING (AP) — Tesla Motors Inc. delivered its first eight electric sedans to customers in China on Tuesday and CEO Elon Musk said the company will build a nationwide network of charging stations and service centers as fast as it can.

Tesla probably will invest several hundred million dollars in charging infrastructure in China, Musk told reporters. He said it will open several hundred service centers.

"My instructions to the team are to spend money as fast as they can spend it without wasting it," he said.

The Palo Alto, California, company previously announced a $121,000 sticker price for its Model S in China. It said import taxes and shipping account for the difference with its U.S. price tag of $81,000.

Customers received the first Model S sedans at a brief ceremony at Tesla's office in a Beijing industrial park, also the site of its first Chinese charging station.

Read more...
 
Sales of U.S. existing homes slip to a 20-month low PDF  | Print |  E-mail
Written by CHRISTOPHER S. RUGABER, AP Economics Writer   
Tuesday, 22 April 2014 10:18

WASHINGTON (AP) — Sales of existing U.S. homes slipped in March to their lowest level since July 2012 as rising prices and a tight supply of available homes discouraged many would-be buyers.

The National Association of Realtors says sales edged down 0.2 percent to a seasonally adjusted annual rate of 4.59 million. It was the seventh drop in the past eight months.

Sales rose in the Northeast and Midwest, suggesting that cold winter weather did not slow sales. And the Realtors' group says the scant decline shows that sales are stabilizing and may strengthen in the coming months as the spring buying season picks up. Many Realtors report seeing more potential buyers at open houses.

Fewer homes for sale, higher mortgage rates and rising prices have contributed to lower sales since last summer.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Last Updated on Tuesday, 22 April 2014 10:19
 
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>

Page 1 of 226