Most US auto sales rise; safety fears
trip DETROIT (AP) -- January is typically a weak month for
U.S. auto sales, but automakers expected sales to improve over last January,
when they dipped to a 26-year low because of the tough economy. Chrysler fell 8 percent on declining
sales of Ram trucks and Jeeps, while Transportation Sec. LaHood says WASHINGTON (AP) -- The Obama
administration's top transportation official sharply criticized Transportation LaHood also said the government was
considering civil penalties for NEW YORK (AP) -- An increase in the number of people
with contracts to buy homes and the first profit at homebuilder D.R. Horton in
three years raised hopes that one of the most stubborn weak spots in the
economy is improving. The Dow rose 111 points Tuesday,
boosting its two-day gain to 230 points and extending a recovery from a slide
in January. It was the biggest back-to-back advance for the Dow in three
months. Contracts to buy homes inch up in
December MIAMI (AP) -- The number of people
preparing to buy a home rose slightly in December, a positive sign heading into
the spring home buying season. The The index has risen for nine out of the
past 10 months as buyers work to take advantage of an $8,000 first-time
homebuyer tax credit. Tough economy spurs shift to cheaper
liquor NEW YORK (AP) -- Americans' love affair
with top-shelf booze cooled last year as the recession took a toll on
high-priced tipples. People drank more liquor but turned to
cheaper brands, according to a report by an industry group. They also drank
more at home and less in pricier bars and restaurants in an effort to save
money. Industry growth slowed in 2009, with
the amount of liquor sold by suppliers up 1.4 percent. That's the smallest
increase since 2001 and below the 10-year average of 2.6 percent. UPS 4Q profit nearly triples from year
earlier ATLANTA (AP) -- UPS is seeing more
people using cell phones to buy and ship goods over the Internet, a greater
number of customers paying for premium services like next-day air and
businesses beefing up operations overseas. The result: a fourth-quarter profit of
$757 million, nearly triple the amount from a year earlier. The only blemish
was UPS' money-losing freight business, which ships larger items such as gym
equipment, grand pianos and automobiles. The world's largest shipping company
continues to position itself for an economic rebound, albeit a gradual one. UPS
will spend less money in 2010 than it has historically on things like
equipment, airplanes and trucks. It also is cutting jobs -- although UPS said
Tuesday it will reinstate pay raises for managers. Cadbury shareholders approve Kraft deal Cadbury PLC shareholders have approved
Kraft Foods Inc.'s roughly $19.5 billion offer to acquire the British candy
maker -- the final step in creating the global food giant. The focus now shifts to how Kraft will
combine the companies and prove it was worth the often-bitter fight. Kraft announced Tuesday that nearly 72
percent of Cadbury shareholders voted in support of the deal. Together, the companies have roughly
$50 billion in annual revenue through sales in 160 countries with their product
lineup ranging from Kraft Macaroni & Cheese to Cadbury's Creme Eggs. The deal gives Kraft access to critical
growing international markets like India and Latin America where Cadbury
thrives and ups its presence in the lucrative candy and gum market. News Corp. reports 2Q profit on ad
recovery LOS ANGELES (AP) -- News Corp., whose
20th Century Fox movie studio is still riding the tail wind of
"Avatar" in movie theaters, said Tuesday it earned $254 million in
the most recent quarter, thanks to an advertising recovery. "Avatar" was released late in
the just-ended fiscal second quarter and its record-setting box office sales
will likely boost profits in the current and future quarters. The company, which is controlled by
Rupert Murdoch and also owns the Fox broadcast network and The Wall Street
Journal, was also helped by better home video revenues from movies such as " Unemployment rises in most metro areas WASHINGTON (AP) -- Unemployment rose in
most cities and counties in December, signaling that companies remain reluctant
to hire even as the economy recovers. The unemployment rate rose in 306 of
372 metro areas, the Labor Department said Tuesday. The rate fell in 41 and was
unchanged in 25. That's worse than November, when the rate fell in 170 areas,
rose in only 154 and was unchanged in 48. Joblessness topped 10 percent in 138
metro areas, up from 125 in November but below last year's peak of 144 areas in
June. The metro employment numbers aren't
seasonally adjusted and can be volatile. Many of the increases were due to
seasonal factors. By The Associated Press The Dow Jones industrial average rose
111.32, or 1.1 percent, to 10,296.85. The Dow's two-day climb of 229.52, or 2.3
percent, is the biggest point and percentage gain since Nov. 4-5. Benchmark crude for March delivery rose
$2.80 to settle at $77.23 a barrel on the New York Mercantile Exchange. In other Nymex trading in March
contracts, heating oil rose 7.68 cents to settle at $2.0317 a gallon, and
gasoline added 8.58 cents to settle at $2.0179 a gallon. Natural gas rose 2
cents to settle at $5.454 per 1,000 cubic feet. In London, Brent crude gained $2.95 to
settle at $76.06 on the ICE futures exchange.