Co-Op Watchdog Endorses Candidates
Hanover — A year after three reform-minded candidates joined the Hanover Consumer Cooperative Society’s Board of Directors, the same protest group they represent has endorsed five more contenders in April’s elections, where it potentially stands to gain a majority on the board. Ten candidates are running for five seats in the annual board election, which will take place throughout the month of April. Only six potential directors have...
Forecasts: Dollar to Gain Against Most Peers in 2016
Sydney — The dollar will strengthen against all its Group-of-10 peers except the pound and Canadian currency in the first quarter, while New Zealand’s kiwi will be the worst performer, according to analyst forecasts. The greenback has advanced against eight of its G-10 counterparts since the end of September as the Federal Reserve raised interest rates and futures signal 55 percent odds another increase will take place by April. The...
Consumer Confidence Down in May
Washington — Consumer confidence in the U.S. fell to a six-month low in May as Americans became less sanguine about the prospects for the economy. The University of Michigan said Friday that its final index of sentiment for the month decreased to 90.7 from 95.9 in April. It marked the biggest decline since the end of 2012. The median projection in a Bloomberg survey of economists called for 89.5 after a preliminary May reading of...
Chairwoman Expects Fed to Raise Key Interest Rate This Year
Washington — Federal Reserve Chairwoman Janet L. Yellen said Friday she expected the central bank to raise its benchmark short-term interest rate this year if the economy continues to slowly improve. It was her clearest signal yet of when the Fed would increase the so-called federal funds rate for the first time since 2006. The Fed has held the rate near 0 percent since late 2008 in an attempt to boost economic growth and hiring. With...
Small, Midsize SUVs Drive April U.S. Auto Sales
Detroit — Hot sales of small and midsize SUVs drove auto sales higher last month as General Motors, Ford, Toyota, Fiat Chrysler and Nissan all reported U.S. sales gains. Several of the companies reported their best April totals in years. Overall, sales were mostly in line with analysts’ predictions of a 6 percent increase compared with a year ago. Buyers, buoyed by lower gasoline prices, flocked to crossover SUVs that handle like cars...
