November auto sales up 14% from year agoPeople are finally replacing the cars and trucks they held on to during the economic slump, giving a big boost to U.S. auto sales in November. Chrysler, Ford, Nissan and Hyundai were among the companies reporting double-digit gains from last November, which is normally a lackluster month because of colder weather and holiday distractions. Industry sales rose 14 percent to 994,721, according to Autodata Corp. It was also the fastest sales pace since August 2009.
November auto sales up 14% from year ago
New CEO to take over at Thomson ReutersThomson Reuters Corp., the financial news and information provider, named James Smith as its next chief executive, replacing Tom Glocer, who has led the company since its creation in a 2008 merger. Smith, 52, will become CEO on Jan. 1, the New York-based company said. He was elevated to chief operating officer in September after running the professionals division that includes the Westlaw legal database and Checkpoint tax-information service.
Initial jobless claims are highest in a monthThe number of Americans who applied for jobless benefits in the past week rose above 400,000 again, an indication that the pace of hiring in the U.S. likely remains modest at best. Initial claims for unemployment compensation climbed by 6,000 to a seasonally adjusted 402,000, the Labor Department said. It was the highest level in a month. The average of new claims over the past four weeks rose by 500 to 395,750. The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.
Wells Fargo sues U.S. over tax paymentsWells Fargo & Co. sued the U.S. government claiming it's owed more than $350 million in refunds for tax overpayments. Some excess payments were caused by "computational and data entry errors" by the Internal Revenue Service, and the government hasn't acted on its claim for a refund, Wells Fargo said in a lawsuit filed in Washington. Wells Fargo says the overpayments involve the interest rates on taxes paid.
Labor agreements avert railroad strikeThe nation's freight railroad industry averted a potentially costly strike after resolving differences with two of its unions and agreeing to extend talks with a third. The National Railway Labor Conference, which represents the railroads in bargaining talks, said its negotiators would try to reach an agreement with the final union before Feb. 8.
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At the center of the potential post-pandemic rebound is the Kickernick Building and its new owner’s gallery.