Stocks drop as jobless claims rise unexpectedly
Business Law
Stocks fell Thursday after the Labor Department said claims for unemployment benefits rose unexpectedly last week, renewing concerns about the pace of the economic recovery.
The disappointing news about the jobs market came minutes after news that Intel Corp. was acquiring McAfee Inc. The deal, valued at $7.68 billion, helped to cushion the blow from the jump in unemployment benefit claims.
The Dow Jones industrial average fell 29 in early morning trading. Broader indexes also fell.
The two announcements are the latest to provide a conflicting picture of the recovery. Economic reports have regularly shown the pace of a rebound is slowing and companies are skittish about adding new workers. That has hurt stocks on some days in recent weeks. It has also stoked fears about the economy falling back into recession.
At the same time, corporate announcements, including earnings reports for the past six weeks, have largely showed companies are doing well. Mergers and acquisitions activity is often considered a positive sign because it means companies are willing to spend money to grow their businesses and are confident that prospects are improving.
Related listings
-
BP Deposits $3 Billion in Spill Fund
Business Law 08/09/2010BP PLC said Monday that it has made an initial deposit of $3 billion into a $20 billion spill-recovery fund. BP said it was making the deposit earlier than the originally scheduled Sept. 30 deadline to show its commitment to restoring the livelihoods...
-
Mich. oil pipeline shut down for work before spill
Business Law 08/04/2010Federal regulators say a company shut down a Michigan pipeline for planned maintenance hours before 911 calls about odors in the area where a massive oil spill was reported the next day.National Transportation Safety Board officials told reporters Mo...
-
Firms crack down on staffers' posts on social media sites
Business Law 08/02/2010Domino's still has nightmares about a prank video posted on the social networking site, YouTube, that got two employees in trouble with the law and tarnished the pizza chain's reputation. The Ann Arbor-based company became an instant Internet sensati...
Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.