Ice Storm Turns Off the Lights in Michigan & Maine

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Dec. 26 (Bloomberg) -- Bloomberg's Betty Liu reports on today's top news headlines on Bloomberg Television's "Money Moves." (Source: Bloomberg)

This is "money moves." i am betty liu, in for deirdre bolton.

The number of americans applying for unemployment benefits dropped by 42,000 last week to a seasonally adjusted 330 8000, the biggest drop since november of last year.

Economists say the figures are worked by seasonal volatility around thanksgiving, christmas, and new year's holidays.

Shares of ups are bouncing back after it's network became overwhelmed in the days leading up to christmas.

Thousands of packages were delayed.

In the meantime, amazon says it is refunding shipping charges and giving customers a $20 credit towards huger purchases to compensate for those whose packages did not arrive in time.

Snow is falling in places where we can by storms turned out the lights from michigan to maine.

Southeast and interior main has been without electricity since sunday.

The area is expected to get up to seven inches of snow by the time the latest system pushes off.

Utility companies are worried that the extra weight could cause setbacks in the around- the-clock efforts to restore power to millions of people.

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This text has been automatically generated. It may not be 100% accurate.

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