Fed says it's in
Two weeks before a U.S. election focused on the economy, the Federal Reserve said Wednesday its help is still needed to increase growth and lower unemployment. The Fed took no action after a two-day policy meeting. It wants time to assess whether the aggressive steps it launched in September will help the economy.
Curt Stewart, the longtime public information officer for the Utah Department of Workforce Services, has announced his retirement. Stewart has been the spokesman for the DWS since its inception, in 1996. He plans to make his exit official in mid-January.
Ogden City gets development award
The Ogden City Community and Economic Development Department has received a gold excellence award from the International Economic Development Council. The honor recognizes the city's partnership with The Boyer Co. that undertook the redevelopment of the Business Depot Ogden, which has emerged as a popular a business and industrial park.
Sales of new homes nationally jumped last month to a seasonally adjusted annual rate of 389,000 units, the highest since a homebuyer's tax credit boosted sales in April 2010. The Commerce Department says sales rose 5.7 percent in September from August. Sales, which have risen 27.1 percent in the past year, are still well below healthy levels.
hit Boeing profit
Pension expenses reduced Boeing Co.'s third-quarter profit, but both its commercial airplanes and defense businesses made money during the quarter. The company, which has operations in Salt Lake City, reported its net income fell 6 percent, to $1.03 billion, from $1.1 billion a year ago. The profit amounted to $1.35 per share. It would have been higher by 18 cents per share if not for increased pension expenses.
British billionaire Richard Branson says his space tourism project keeps being pushed back and that he isn't sure of an exact date for the first launch. He says it will be at least another 12 months to 18 months before the Virgin Galactic venture can offer paid space travel to adventurers.