Financial
Brisk sales raise Mega Millions jackpot to $425M PDF  | Print |  E-mail
Written by BARBARA RODRIGUEZ, Associated Press DAVID PITT, Associated Press   
Friday, 13 December 2013 14:05

DES MOINES, Iowa (AP) — Superstition didn't deter players hoping that Friday the 13th will bring them good luck in the Mega Millions game as heavy sales prompted lottery officials to boost the jackpot to $425 million.

 

Paula Otto, the Virginia Lottery's executive director and Mega Millions' lead director, said Friday morning that sales were 40 percent ahead of projections, prompting officials to boost the jackpot for the draw that night.

"Won't it be fun if we have a huge lottery winner on Friday the 13th?" she said. "I always say there are no unlucky numbers in the lottery. I work on the 13th floor of our building. I like 13. It's certainly fun to have such a big jackpot on a day that some people are superstitious about."

The estimated $425 million jackpot is the second-largest Mega Millions jackpot ever, trailing a $656 million jackpot won in March 2012, and it is the fifth largest lottery jackpot in U.S. history. The current jackpot has rolled over 20 times, and its winner could have a cash option of $228 million before taxes.

In New York state, tickets were selling at a pace of $500,000 an hour Friday morning. The state's lottery spokeswoman, Christy Calicchia, said sales are normally between $60,000 and $70,000 an hour.

Read more...
 
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.

Read more...
 
GM gets about $343 million for PSA stake PDF  | Print |  E-mail
Written by Associated Press   
Friday, 13 December 2013 11:10

DETROIT (AP) — General Motors Co. got about $343 million for its 7 percent stake in French automaker PSA Peugeot Citroen.

The Detroit company on Friday said that it completed the private placement sale of 24.8 million PSA shares for 250 million euros.

GM bought the PSA stake in March 2012 for $402 million when the companies announced a car-building and purchasing alliance. That means the company will lose about $59 million on the deal.

GM said earlier that the alliance with PSA will continue and will focus on jointly developing vehicles, joint manufacturing, purchasing and logistics.


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 This material may not be published, broadcast, rewritten or redistributed.

 
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.

 
<< Start < Prev 201 202 203 204 205 206 207 208 209 210 Next > End >>

Page 203 of 214