Archive for July 3rd, 2008

Blue chips rose Thursday morning as investors breathed a sigh of relief that the June payrolls report was mostly in line with forecast, and that the dollar wasn't hurt by a rise in interest rates overseas.

The dollar rose against the euro Thursday after a government report on the labor market came in slightly weaker than expected despite persistent rumors that a much bleaker number was in store.

Bush Administration removes ban on new applications to build solar power stations amid outcry that it threatened to cripple the industry.

Employers trimmed jobs from their payrolls in June for the sixth straight month, as the government's closely watched report Thursday showed continued weakness in the labor market.

Stock futures turned higher early Thursday as investors responded to a key report on the nation's labor market and the European Central Bank's decision to raise interest rates.

The dollar rose against the euro Thursday following the European Central Bank's (ECB) decision to boost interest rates, a move that appeared to have been priced into the currency.

Retail gas prices rose overnight to a record high for the fourth day in a row, ahead of the July 4 holiday weekend - one of the nation's busiest weekends for travel.

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Sir Philip Green spreads his arms wide inside the 40,000-square-foot space that will soon become the first U.S. location of his retailer Topshop. "This is awesome," he says, his voice echoing around the guts of the Lower Manhattan landmark building. Sunlight streams through the windows onto his broad face as his architects show him where the deejay booth will hang from the ceiling. "This is everything you would want in retail," he crows inside the cavernous space.

Drama is the predominant theme in this young entrepreneur's world: From building a global brand based on $500-plus stilettos, to closing her third round of private equity financing to the tune of $360 million last year, Mellon doesn't do anything halfway - including the recent renovation of her London office.