Weekly U.S. Unemployment Claims Fall to 340,000
(WASHINGTON) — The number of Americans seeking unemployment aid fell to a seasonally adjusted 340,000 last week, driving down the four-week average to its lowest level in five years. The drop is a positive sign ahead of Friday’s report on February job growth. Applications for benefits fell 7,000 in the week ended March 2, the Labor Department said Thursday. That’s near five-year lows reached in January. And the four-week average, a less volatile measure, dropped to 348,750. That’s the lowest since March 2008, just a few months into the Great Recession. Weekly applications are a proxy for layoffs. When they fall, it suggests that companies are shedding fewer jobs. More hiring may follow. The decline adds to other evidence that hiring may have been better last month than economists forecast. Analysts predict that employers added 152,000 jobs, according to a survey by FactSet. That’s about the same as in January. The unemployment rate is projected to fall to 7.8 percent from 7.9 percent. ...
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Student Loan Debt Crisis: How’d We Get Here and What Happens Next?
The amount of student loan debt and the rate of delinquency have been climbing for years now. If it seems like every new statistic is worse than the last, that’s because it is. Two studies released this week are no exception. Credit bureau TransUnion says that in the past five years, the average student loan debt each borrower carries has risen 30% to $23,829. More than half of student loan accounts, which add up to more than 40% of the total dollars owed, are in deferral status. This is just a temporary reprieve; students can defer for only a few years before they have to repay. The trouble is, many of them aren’t doing so. FICO Labs found that delinquencies rose by 22% in five years. For the newest group of loans it studied, delinquency rates are 15.1% — higher than the 11% cited by the Federal Reserve in a November report. Like the Fed’s study, the FICO analysis doesn’t include loans that are in a deferred status — which means the number of people who can’t afford to pay ...
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United States: Financial Services Bulletin: Joint Fed, OCC And FDIC Release - Perkins Coie LLP
In June 2012, the Fed, the FDIC, and the OCC approved these joint NPRs, which would revise their current regulatory capital standards.
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Canada: Patent Eligibility Of Computer-Implemented Inventions Further Delineated By U.S. Court - Bennett Jones LLP
In the recent decision of Bancorp Services L.L.C. v Sun Life Assurance Company of Canada (U.S.), Fed. Cir., No. 2011-1467, 7/26/12, the United States Court of Appeals for the Federal Circuit further delineated the requirements for the patentability of computer-implemented inventions in the United States.
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Bernanke Could Signal Fed’s Next Step in Testimony
(WASHINGTON) — Chairman Ben Bernanke could offer some clues about whether the Federal Reserve is poised to take another step to jolt the sluggish U.S. economy when he appears before Congress this week. Bernanke will give his semiannual report to the Senate Banking Committee Tuesday and to the House Financial Services Committee Wednesday. His testimony [...]
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