Your Money in the News: Financial Firsts
Believe it or not, there was news this week that wasn't related to the first partial closure of the government in 17 years. Here's a highly curated (read: extremely subjective) list of stories about financial milestones for the week of September 30.
CONFIDENCE: Consumer confidence decreased for the first time in four weeks as Americans’ views of the economy deteriorated to the lowest level since May. The partial closure of the government risks further rattling consumers’ moods at the same time the U.S. nears a deadline to raise the debt limit and avoid default. Nonetheless, the cheapest gasoline prices since January and improved home values are giving households the wherewithal to sustain spending, which accounts for 70 percent of the economy. 10/3
CURRENCY: Futures traders are betting the pound will keep rising for the first time since February, reversing earlier wagers on a decline, figures from the Washington-based Commodity Futures Trading Commission show. 10/3
REBATES: General Motors Co. (GM) extended rebates to more employee family members on purchases of its vehicles and boosted the discounts after the largest U.S. automaker’s first monthly sales decline in more than a year. 10/2
CABLE: Research firm IHS is projecting that U.S. cable and satellite TV subscriptions will decline in 2013 for the first time, dropping to 100.8 million from 100.9 million. 10/2
HOME SALES: Manhattan home sales jumped in the third quarter to the highest level since 2007 as buyers rushed to make deals before rising interest rates push costs higher. 10/2
VATICAN VAULT: The Vatican bank disclosed its annual earnings report for the first time in the institute’s history as it seeks to improve financial transparency after several corruption scandals. 9/30