Daily business briefing: Unemployment claims rise

August 22, 2013 

(*0*)The number of Americans applying for unemployment benefits was back up last week. On Thursday, the Labor Department reported that applications for first-time benefits rose 13,000 to a seasonally adjusted 336,000 in the week ending Aug. 17. That's up from 323,000 in the previous week, which was the lowest since January 2008. Read more at www.bnd.com/business. ...


Wal-Mart Stores Inc. invited retailers, suppliers and government officials to a summit to drive more domestic manufacturing. The two-day event is expected to draw more than 1,500 people. Bentonville, Ark.-based Wal-Mart, the world's largest retailer, has pledged to buy $50 billion more U. S. made goods over the next decade -- more than 10 percent of what Wal-Mart will sell at retail this year. Learn more at www.bnd.com/business. ...


Second quarter losses reported by Sears is the latest big-box retailer to report weakening sales results. For the period that ended Aug. 3, Sears Holdings Corp. lost $194 million, or $1.83 per share. That compares with a loss of $132 million, or $1.25 per share, a year earlier. Wal-Mart and Macy's also reported losses during the quarter as consumers seem hesitant to spend in this uncertain economy. For more information, go to www.bnd.com/business. ...


J.C. Penney is adopting a one-year shareholder rights plan to avoid any takeover attempts. This allows existing shareholders to buy more shares at a low price if an investor or entity not approved by the board buys up a large chunk of company shares. The Plano, Texas, retailer said the move was not made in response to a takeover. Find out more at www.bnd.com/business.

-- Will Buss, BND business writer

Belleville News-Democrat is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service