Financial
U.S. wholesale costs fall for third month on cheap gas PDF  | Print |  E-mail
Written by JOSH BOAK, AP Economics Writer   
Friday, 13 December 2013 10:46
WASHINGTON (AP) — U.S. wholesale prices dropped in November for the third consecutive month, pushed down again by cheaper gasoline and lower home heating oil costs. But excluding volatile energy costs, inflation was mostly stable.

The producer price index, which measures prices before they reach the consumer, declined 0.1 percent last month, the Labor Department said Friday. This comes after similar decreases in October and September.

Overall wholesale prices have risen just 0.7 percent in the past 12 months.

Excluding energy and food prices, so-called core wholesale prices increased 0.1 percent in November and 1.3 percent over the past 12 months.

"If you are worried about upside inflation risks, you need to look elsewhere," said Ian Shepherdson, chief economist at Pantheon Macroeconomics.

Both consumer and wholesale inflation have been running extremely low in the past year. High unemployment and weak wage increases have made it difficult for businesses to raise prices.

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Boeing to shift research jobs to South, Midwest PDF  | Print |  E-mail
Written by DAVID A. LIEB, Associated Press   
Friday, 13 December 2013 07:00

JEFFERSON CITY, Mo. (AP) — Boeing announced Thursday that it is shifting hundreds of jobs to Alabama, Missouri and South Carolina as part of a restructuring of its U.S. research operations over the next two years.

The Chicago-based aerospace company said the reorganization will result in fewer research jobs in Washington state and California and is being undertaken to better meet the needs of its commercial airplane, military and space and security units.

The announcement comes as those same states, and several others, are competing to assemble Boeing's 777X passenger plane — a much-sought-after facility that could generate thousands of jobs.

Boeing spokesman Daryl Stephenson said the restructuring of the company's research operations has been in the works for several years and is unrelated to the new airplane or Boeing's contract negotiations with a Seattle area machinists union.

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GE electrical R&D center opens in southwest Ohio PDF  | Print |  E-mail
Written by Associated Press   
Friday, 13 December 2013 10:45

DAYTON, Ohio (AP) — GE Aviation and the University of Dayton are marking the grand opening of a $53 million electrical power research and development center in southwest Ohio.

State and local officials gathered with leaders of the General Electric Co. unit and the university for Friday's events. First announced in 2010, the Electrical Power Integrated Systems Center is a 138,000-square-foot facility on the UD campus along the Great Miami River. It's expected to potentially employ 150 to 200 researchers over the next five years.

The center will work to develop advanced electrical systems, and can analyze, simulate and test power systems in planes.

GE Aviation in based in the northern Cincinnati suburb of Evendale. The new center is near Wright-Patterson Air Force Base, as well as the University of Dayton Research Institute.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
Feds try to smooth bumpy health care transition PDF  | Print |  E-mail
Written by RICARDO ALONSO-ZALDIVAR, Associated Press   
Friday, 13 December 2013 06:58

WASHINGTON (AP) — Anticipating more health care disruptions, the Obama administration Thursday announced a batch of measures intended to help consumers avoid lapses in their care and coverage as the president's overhaul takes effect in January.

Health and Human Services Secretary Kathleen Sebelius also announced a one-month extension of a special insurance program created by the law for people who cannot get coverage because of health problems. Scheduled to expire at the end of the year, the Pre-Existing Condition Insurance Plan will remain in place through January.

Some of the measures are binding, such as requiring insurers to provide coverage on Jan. 1 for any customer who pays by New Year's Eve. Others are recommendations, like urging insurers to let customers temporarily keep filling prescriptions covered by a previous plan.

The steps are the policy counterpart to the technical repairs that finally got the HealthCare.gov website working reasonably well. They're intended to help make sure anyone who needs and wants coverage by Jan. 1 can get it, even if they got trapped by website woes. That includes some of the more than 4 million people whose existing health individual health plans have been cancelled because the plans didn't meet the new law's requirements.

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