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Economic NewsSaturday, May 18th, 2013

Silicon Valley-area hub becomes factory town

By MARTHA MENDOZA - AP - 2 hrs 36 mins ago

FREMONT, Calif. (AP) — In a busy factory, machinists move sheets of aluminum roll in the back door to be molded, stamped, twisted and notched into high-tech electric cars that sell for more than $60,000 each. (full story)

Union leads march in Rome calling for job creation

AP - Sat May 18, 11:46AM CDT

ROME (AP) — A union of Italian metal workers has led thousands of people in a march through the heart of Rome to press the new government for measures to spur job creation. (full story)

Politics, bribery charges swirl around Ugandan oil

By RODNEY MUHUMUZA - AP - Sat May 18, 10:23AM CDT

KAMPALA, Uganda (AP) — Even before the first drops flow, Uganda's oil sector is beset by bribery allegations against officials, tax-related cases abroad that cost the government millions in legal fees, and the alleged interference of a president whose firm control of the sector worries transparency campaigners. (full story)

Judge: Atlantic Club casino can seek new buyer

By WAYNE PARRY - AP - Fri May 17, 6:14PM CDT

MAYS LANDING, N.J. (AP) — After paying an $11 million advance to a struggling Atlantic City casino it intended to buy, the parent company of the world's largest online poker website was left with nothing for its troubles Friday when a judge ruled the casino had the right to scrap the deal. (full story)

Business Highlights

By The Associated Press - AP - Fri May 17, 5:16PM CDT

___ (full story)

Energy Dept. backs Texas LNG export plan

By MATTHEW DALY - AP - Fri May 17, 4:48PM CDT

WASHINGTON (AP) — The Energy Department on Friday conditionally approved a Texas company's proposal to export liquefied natural gas, only the second such project allowed to move forward amid a production boom that has led to glut of domestic natural gas. (full story)

US wants Bangladesh progress on labor standards

AP - Fri May 17, 4:28PM CDT

WASHINGTON (AP) — Secretary of State John Kerry says the U.S. wants to see Bangladesh move forward on improving labor standards after a building collapse that killed hundreds of garment workers. (full story)

Groups divided on Bangladesh safety overhauls

By ANNE D'INNOCENZIO - AP - Fri May 17, 3:22PM CDT

NEW YORK (AP) — The nation's largest retail industry organization fired back Friday, outlining reasons why a legally binding global pact to make Bangladesh clothing factories safer would expose merchants to undue legal exposure. The move came as U.S. retailers face increasing pressure from a large coalition of religious groups and investors to work together to develop a plan. (full story)

Transocean shareholders oust chairman

AP - Fri May 17, 3:05PM CDT

NEW YORK (AP) — Transocean Ltd. shareholders have voted out the oil drilling company's chairman and backed one of Carl Icahn's director nominees. (full story)

On jobs trip, Obama tries to leave problems behind

By NEDRA PICKLER - AP - Fri May 17, 3:04PM CDT

BALTIMORE (AP) — President Barack Obama tried on Friday to leave behind the political battles that have overshadowed his second-term agenda, saying lawmakers should work on creating more middle-class jobs in the slowly growing economy. "Our work is not done, and our focus cannot drift," Obama said. (full story)

Kansas unemployment rate drops slightly in April

AP - Fri May 17, 2:55PM CDT

TOPEKA, Kan. (AP) — A new report says the Kansas unemployment rate dipped to 5.5 percent last month while the number of people filing initial claims for jobless benefits also fell. (full story)

Brazil approves law to modernize ports

By STAN LEHMAN - AP - Fri May 17, 2:39PM CDT

SAO PAULO (AP) — Brazil plans to modernize and expand its overcrowded ports, attract private investments to the sector and make it easier for companies to hire skilled foreign workers, in a bid to spur economic growth, (full story)

Shrewd Ga. businesswoman fought stereotypes

By KATE BRUMBACK - AP - Fri May 17, 2:26PM CDT

ATLANTA (AP) — As a shrewd businesswoman with keen insight and endless aspirations, Ophelia DeVore worked for much of the 20th century to smash stereotypes and empower black women by teaching them poise, confidence and the courage to get ahead in a world deeply etched by racial discrimination. (full story)

Pa. unemployment rate drops slightly in April

AP - Fri May 17, 2:21PM CDT

HARRISBURG, Pa. (AP) — Pennsylvania's unemployment rate declined slightly last month, but remains above the national rate. (full story)

RI unemployment rate now 6th highest in US

AP - Fri May 17, 2:14PM CDT

PROVIDENCE, R.I. (AP) — Rhode Island's 8.8 percent unemployment rate is the sixth-highest in the country. (full story)

Illinois Senate approves medical marijuana bill

By REGINA GARCIA CANO - AP - Fri May 17, 2:10PM CDT

SPRINGFIELD, Ill. (AP) — Illinois Gov. Pat Quinn must decide if he will sign a measure allowing the use of marijuana for medical purposes after the state Senate approved legislation on Friday. (full story)

US state unemployment rates in April, at a glance

By The Associated Press - AP - Fri May 17, 1:59PM CDT

Steady hiring helped lower unemployment rates in 40 U.S. states in April, the most in five months. The declines show the job market's recent improvement has been widespread. (full story)

Canada trying to lure Silicon Valley tech workers

AP - Fri May 17, 1:19PM CDT

SAN JOSE, Calif. (AP) — The Canadian government has launched an aggressive campaign to lure Silicon Valley tech workers frustrated by U.S. visa policies northward, just as Congress wrestles with a long-sought overhaul of America's immigration system. (full story)

California unemployment rate drops to 9 percent

By LAURA OLSON - AP - Fri May 17, 1:08PM CDT

SACRAMENTO, Calif. (AP) — California's unemployment rate has fallen to its lowest level in 4 1/2 years as the state experienced one of the sharpest drops in joblessness nationwide, the state Employment Development Department reported Friday. (full story)

Embattled Scott trumpets drop in Fla. jobless rate

By GARY FINEOUT and TAMARA LUSH - AP - Fri May 17, 1:05PM CDT

TAMPA, Fla. (AP) — Florida Gov. Rick Scott — who has made his handling of the state's economy the main thrust of his re-election campaign — got more to boast about on Friday. (full story)

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