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FACTORY ORDERS JUMP IN MARCH: America's factories had orders jump in March by the largest amount in more than a year and a half. The Commerce Department reported Tuesday that orders placed with factories went up 4.3 percent in March from February. That marked the biggest increase since July 2002 and exceeded economists' forecasts for a 2.4 percent advance. March's figure, which followed a 1.1 percent increase in February, reflected stronger demand for a wide variety of goods, including cars, machinery, household appliances, food, clothes and chemicals.
VERIZON REVS UP ITS DSL: Verizon will boost the speed of its basic digital subscriber line Internet access service this summer but keep the same price. The company said Tuesday that the upload speed for sending information will triple to 384 kilobits per second, while the download rate will remain at 1.5 megabits per second. The service will still cost $34.95 a month, or $29.95 as part of a bundle of services. Verizon said it would add even faster DSL service later in the year, as well as phone service over the Internet. It did not give details on pricing and availability. The company said it added 345,000 DSL customers in the first quarter, growing to 2.7-million DSL lines in service.
MINIMUM WAGE DRIVE EARNS REVIEW: A petition drive aimed at putting a minimum wage in the state constitution cleared an early hurdle Monday, with enough support to warrant review by the state Supreme Court. The proposed constitutional amendment has more than 63,000 signatures, according to the state Division of Elections, or more than 10 percent of the total signatures needed, qualifying it for the review. The proposal, pushed by a group called Floridians for All PAC, would establish an hourly minimum wage of $6.15 if it makes the ballot and is approved by voters. The federal minimum is $5.15.
GM SALES LACKLUSTER IN APRIL: General Motors Corp.'s new car and truck business rose less than 1 percent in April, a lackluster result that wrapped up a month in which consumer demand failed to meet industry expectations. GM, the world's largest automaker, said Tuesday overall sales rose 0.4 percent last month. Truck sales, aided by heavy incentives, rose 1.2 percent, while car sales were off 0.8 percent. GM reported April results a day after most automakers because of a computer problem.
SENATE VOTES TO PRESERVE OT: In an election-year snub of the Bush administration, the Senate voted Tuesday to require that new Labor Department regulations guarantee the right to overtime pay for all workers who currently qualify. The Senate's vote placed an amendment on corporate tax legislation that has been stalled for months and has yet to clear the House. The vote was 52-47, with five Republicans siding with Democrats. The regulations are to take effect in August.
JUNE OIL FUTURES HIT $38.98: The price of oil is likely to rise higher in coming months, analysts say. Tuesday, crude oil for June delivery rose 77 cents on the New York Mercantile Exchange to $38.98 per barrel, a 13-year high, while unleaded gasoline for June delivery hit $1.31 a gallon, the highest price since the contract started trading in December 1984. The average price of regular unleaded gasoline in the United States is $1.84 per gallon, according to the Energy Department.