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Economy Latest News Wires

  • Will Federal Reserve start raising interest rates soon?

    Minutes from a Fed meeting in January released Wednesday show that officials struggled to determine the appropriate timing for a rate hike. The Fed's benchmark interest rate has been at a record low near zero since December 2008.

  • US housing starts fall in January, but construction is speeding up (+video)

    US housing starts slipped 2 percent to a seasonally adjusted annual rate of 1.07 million last month, the Commerce Department reported Wednesday. Despite the monthly decline, the broader economy should help boost home sales and apartment construction this year.

  • Is Snapchat really worth $19 billion?

    Snapchat, the mobile messaging app, is seeking funding at a $19 billion valuation, according to a report from Bloomberg. Snapchat is aiming to raise $500, making it the third most highly-valued tech startup backed by venture capitalists.  

 

Photos of the Week Photos of the Week 07/17

Kids play in the mud during Mud Day at the Nankin Mills Park, July 11, in Westland, Mich. The annual day sponsored by the Wayne County Parks takes place in a 75' x 150' giant mud pit that gives children the opportunity to get down and dirty at one of the messiest playgrounds Southeast Michigan has ever seen.

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