Recently in Elastic Tapes Category

. The settlement was reached Thursday, just days before a trial was to begin in Delaware in the case that challenged commissions AIG paid to C.V. Starr & Co. That's a privately held affiliate controlled by former AIG chairman Maurice "Hank" Greenberg and three other AIG directors.

Here is Elastic Tapes Homepage.

Attorneys representing the Teachers Retirement System of Louisiana say the settlement includes a $29.5 million payment from Greenberg and three other individual defendants. The plaintiffs alleged AIG could have done the work for which it paid Starr, and that the commissions were simply a mechanism for Greenberg and other Starr directors to line their pockets.

Full Story: Settlement reached in AIG shareholder lawsuit (AP)

Click here for information on elastic tapes.

rose unexpectedly last week, largely due to Hurricane Gustav, the government said Thursday, adding further strain to the economy.

For information about elastic webbing see http://www.elastic-tapes.com/elastic-webbing.html.

Layoffs can worsen the nation's economic woes as newly unemployed workers and those that fear for their jobs cut back on their spending and fall behind on their debts. "The key to consumers' ability to meet their obligations is whether they have a job," Chessen said.

Full Story: Jobless claims rise due to Hurricane Gustav (AP)

Elastic Tapes Blog, News and Updates

WASHINGTON - Banks and Wall Street firms ramped up borrowing from the Federal Reserve's emergency lending facility over the past week, a fresh sign of the credit stresses plaguing the country.

Find elastic tapes and related product listing.

A Fed report released Thursday says commercial banks averaged $21.6 billion in daily borrowing over the past week. That compared with a daily average of $19.8 billion in the previous week. For the week ending Sept. 17, Wall Street firms drew such loans averaging $20.3 billion. That step-up comes after six straight weeks where they didn't draw any loans. Their borrowing averaged as high as $38.1 billion a day over the course of a week in early April.

Full Story: Banks, Wall Street firms borrow more from Fed (AP)

Click here for more on elastic tapes.

WASHINGTON - Construction of new homes and apartments fell to the weakest pace in 17 years in August, far more than expected, but lower mortgage rates and tax credits have given builders some glimmer of hope of a possible rebound.

Here is a website of elastic tapes company based in India.

Housing construction dropped a surprising 6.2 percent last month, the Commerce Department reported Wednesday, far larger than the 1.6 percent decline analysts had been expecting. It was the slowest building pace since January 1991, but that should help clear out bloated inventories of unsold homes. Building activity is on track to slide below the 1 million-mark for the whole year, the first time that has happened in more than six decades.

Full Story: Housing construction plunges 6.2 pct. in August (AP)

Information about elastic tapes http://blog.itpatil.com/elastic-tapes/

WASHINGTON - Construction of new homes and apartments fell to the lowest level in 17 years last month, showing the country is still gripped by a severe housing downturn that has triggered billions of dollars of losses and is reshaping the structure of U.S. finance.

For information about luggage elastic see http://www.elastic-tapes.com/luggage-elastic.html.

The Commerce Department reported Wednesday that housing construction dropped a surprise 6.2 percent last month to a seasonally adjusted annual rate of 895,000 units. That's the slowest building pace since January 1991, another period when housing was going through a painful correction. The decline is larger than the 1.6 percent drop analysts expected and showed weakness in all the country except the West.

Full Story: Housing construction plummets 6.2 pct. in August (AP)

Click here for information on elastic tapes.

kept a key interest rate unchanged Tuesday, saying that strains in financial markets have "increased significantly" but that it would keep an eye on them and act, if needed.

Find information about elastic tapes here.

Some investors had hoped the Fed would cut rates after financial markets were stunned by investment bank Lehman Brothers ' failure over the weekend to find financing or a buyer. Stocks initially slumped on the Fed announcement with the Dow Jones industrial average dropping by about 100 points. However, in late afternoon trading the Dow was up nearly 84 points as investors took heart that the central bank did not believe the economy was in as much trouble as many had feared.

Full Story: Fed leaves key rate unchanged (AP)

Elastic Tapes Blog, News and Updates

WASHINGTON - Consumer prices in August posted the first monthly decline in nearly two years as Americans finally get a break from surging energy prices.

For information about elastic tapes see http://www.elastic-tapes.com

The Labor Department reported Tuesday that consumer prices edged down 0.1 percent last month, a significant improvement from a 1.1 percent price spike in June and a 0.8 percent rise in July. The cost of gasoline and other fuels have plunged, reflecting big drops in crude oil prices . The decline, which was in line with expectations, may give the Federal Reserve the room it needs to cut interest rates if Fed officials feel a rate reduction could help stabilize turbulent financial markets .

Full Story: Big fall in energy pushes consumer prices down (AP)

Click here for more on elastic tapes.

The Federal Reserve reported Monday that industrial output dropped 1.1 percent last month, far worse than the 0.3 percent decline that economists had been expecting.

Here is Elastic Tapes Homepage.

The weakness was led by an 11.9 percent drop in production of motor vehicles and parts, reflecting the hard times facing the U.S. auto industry. Copyright © 2008 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.

Full Story: Output drops worse-than-expected 1.1 percent (AP)

Information about elastic tapes http://blog.itpatil.com/elastic-tapes/

WASHINGTON - The largest drop in wholesale prices in nearly two years in August failed to spur consumers to spend more at the shopping malls, raising new worries about a possible recession as the temporary boost from tax rebate checks becomes a distant memory.

For information about underwear elastic see http://www.elastic-tapes.com/underwear-elastic.html.

The Labor Department reported Friday that wholesale prices declined 0.9 percent last month, nearly double the 0.5 percent drop that economists had expected, as the price of all types of energy from gasoline to natural gas fell sharply. The August slump followed an even bigger 0.5 percent decline in July, the weakest performance in five months and much worse than the 0.1 percent decline originally reported.

Full Story: Sales slide in August while price pressures abate (AP)

Click here for information on elastic tapes.

WASHINGTON - The Agriculture Department on Friday reduced its forecast for this year's corn and soybean harvests due to drier weather, potentially leading to higher commodity prices.

For information about elastic tape and related products http://www.elastic-tapes.com/elastic-tape.html.

U.S. corn production will be 12.1 billion bushels, down from its 12.3 billion estimate last month, the USDA said. The soybean crop is projected to be slightly lower, at 2.93 billion bushels, down from its earlier estimate of 2.97 billion. While the predicted corn crop will be 8 percent below last year's, it would still be the second largest on record. The soybean crop would be 13 percent higher than last year's and the fourth largest ever.

Full Story: USDA cuts estimates for corn, soybean harvests (AP)

Elastic Tapes Blog, News and Updates