Daily business briefing: Unemployment benefits rise

February 27, 2014 

The number of Americans applying for unemployment benefits rose by 14,000 last week. But the Labor Department reported Thursday that the seasonally adjusted level of 348,000 indicates applications remained stable. Read more at http://www.bnd.com/business. ...

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Mortgage lender Freddie Mac reported $8.6 billion in net income during the fourth quarter. That marked its ninth straight profitable quarter. In September 2008, both Freddie Mac and Fannie Mae received $187 billion in a taxpayer bailout. Find out more at http://www.bnd.com/business. ...

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Best Buy reported a profit in the fourth quarter. Shares increased 6 percent in premarket trading Thursday. Find out more at http://www.bnd.com/business. ...

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Citing weak demand for mortgage refinancing, Wells Fargo has announced that it will lay off 700 workers. The St. Louis business Journal cites a San Francisco Business Times report that says the layoffs include 203 employees in the Minneapolis-St. Paul area, four employees in the San Francisco area and 38 in California. For more information, go to http://www.bnd.com/business.

-- Will Buss, BND business writer

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