Print

Email story

Comment

Letter to the editor

Briefs

Trade deficit spike blamed on foreign oil

By Times wires
Published January 12, 2008

WASHINGTON - The U.S. trade deficit in November rose to the highest level in 14 months, reflecting record foreign crude oil prices. The deficit with China declined slightly while the weak dollar boosted exports to another record high. The Commerce Department reported Friday that the trade deficit, the gap between imports and exports, jumped by 9.3 percent, to $63.1-billion. The imbalance was much larger than the $60-billion that had been expected.

Worries eroding our confidence
WASHINGTON - Consumer confidence fell to an all-time low as worries about jobs, energy bills and home foreclosures darkened people's feelings about the country's economic health and their own financial well-being. According to the RBC Cash Index, confidence tumbled to a mark of 56.3 in early January. That compares with a reading of 65.9 in December - and a benchmark of 100 - and was the worst since the index began in 2002.

Prince, China bank may help Citigroup
NEW YORK - Prince Alwaleed bin Talal, the Citigroup shareholder who came to the bank's rescue during the credit crisis of the early 1990s, might do so again now, the Wall Street Journal reported Friday. The billionaire from Saudi Arabia, along with China Development Bank, is expected to invest about $2-billion in Citigroup Inc., the Journal said. The Journal also said, however, that there's a chance the deal could fall apart.

Citrus quarantine grows on greening
ORLANDO - The U.S. Agriculture Department on Friday extended a quarantine zone to prevent the spread of a major citrus disease, preventing the shipment of all Florida citrus trees outside the state. The action on citrus greening is another blow to Florida's citrus industry, which endured devastating hurricanes in 2004 and 2005 and two decades battling a less-severe bacteria called canker. The USDA action revises a quarantine issued in November on 28 counties. The quarantine was expanded after citrus greening was found in Hernando and Lake counties.

United increases fuel charge by $50
CHICAGO - United Airlines, the world's second-largest carrier, more than doubled its fuel surcharge in most U.S. markets to $50 round trip because of rising costs. The fee had been $20 round trip on most routes and was as low as nothing where the carrier competes directly with low-fare airlines, United spokeswoman Robin Urbanski said Friday. The carrier, a unit of UAL Corp., last increased the surcharge Dec. 20.

Pilot claims video, cancer led to firing
TAMPA - Flight Options LLC, which leases time-share jets, was sued in a Tampa federal court by a pilot who contends he was fired after posting a clip of himself flying a plane on Google Inc.'s YouTube video site. Tyler Darby said in his lawsuit that Flight Options officials used the YouTube posting as a pretext to fire him. Darby, diagnosed with cancer in 2004, said company officials sought to cut health care costs by ousting him.

[Last modified January 11, 2008, 23:09:49]