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Inflation posts 34-year high on gas price jump

By Times Wires
Published December 14, 2007

WASHINGTON

A record jump in gasoline prices pushed wholesale inflation up by the largest amount in 34 years, although November retail sales had their biggest gain in six months. The Labor Department said Thursday that wholesale prices rose 3.2 percent last month, propelled by a record 34.8 percent rise in gasoline costs. Core inflation, which excludes energy and food, posted a 0.4 percent rise in November, double what was expected. Meanwhile, the Commerce Department reported that retail sales jumped by 1.2 percent last month, double the gain economists had expected.

Cost of U.S. visa to rise 30 percent

The cost for most foreign tourists, students and businesspeople to come to the United States is going up. The State Department announced Thursday that it will increase the application fee for nonimmigrant visas by more than 30 percent, from $100 to $131, on Jan. 1 to pay for increased processing costs and security enhancements implemented since the Sept. 11, 2001, terrorist attacks.

NEW YORK

$5B Newscorp deal for Dow finalized

Shareholders of Dow Jones & Co. gave final approval Thursday to a $5-billion bid from Rupert Murdoch's News Corp. to acquire the financial publishing company, the final step needed before one of the world's most influential newspapers, the Wall Street Journal, changes hands. The controlling shareholders of Dow Jones, the far-flung Bancroft family, had initially rebuffed Murdoch's approach this spring, but eventually enough of them agreed to accept his offer of $60 a share to ensure the bid would succeed.

MIAMI

Carnival spends $1.1B on two ships

Carnival Corp. said Thursday it ordered two 2,174-passenger cruise ships at a combined cost of more than $1.1-billion for its AIDA Cruises brand, which sails in the growing European market and caters to German speakers. The 71,000-ton ships will cost $558-million and $565-million, and will be built at Meyer Werft shipyard in Papenburg, Germany. The ships are scheduled to enter service in April 2011 and May 2012, respectively, Carnival said. Carnival has ordered six new ships for the AIDA brand and its "club resort" concept in the past three years.

FORT WORTH, Texas

American to recall 247 attendants

About 250 furloughed flight attendants will be recalled to work by American Airlines, a flight attendants union said Thursday. American will send notices to the 247 most senior furloughed flight attendants starting Thursday, the union said. Those notified will have until Jan. 4 to accept. Flight attendants who accept the recall will go back to work March 25, said Tommie Hutto-Blake, the president of the Association of Professional Flight Attendants. This is the seventh round of recalls since 2003, according to the union. In August, American announced the rehiring 460 flight attendants who were laid off after the Sept. 11 terrorist attacks. Those flight attendants worked for TWA, which American parent company AMR Corp. bought out of bankruptcy in early 2001.

[Last modified December 14, 2007, 01:13:52]