Economy
Jobless claims rise
The number of Americans filing new claims for unemployment insurance rose sharply for a second straight week even as signs emerged that the worst of the recession may be over.
The Labor Department reported Thursday that for the work week ending Dec. 29, new claims for jobless benefits jumped by a seasonally adjusted 36,000 to 447,000, the highest level since the beginning of December.
Aviation
Boeing's deliveries top revised estimate
Boeing Co. said it delivered 144 commercial jets in the fourth quarter to bring its total for the year to 527 only about a dozen fewer than expected before the Sept. 11 attacks.
The total topped by five the company's latest revised estimate following the terrorist attacks 522. Boeing originally anticipated 538 deliveries in 2001.
Squeezed by the economic downturn and falloff in air travel that is hurting its airline customers, Boeing is expecting only 350-400 deliveries in 2002 and fewer in 2003.
Boeing shares rose 65 cents to close at $38.75 Thursday on the New York Stock Exchange.
Drugstore giant
Walgreen sales up, plans to continue expansion
Walgreen Co. reported a 17 percent quarterly earnings gain Thursday and pledged to add 475 stores in 2002, maintaining its unprecedented expansion pace thanks largely to soaring pharmacy sales.
Net profits for the company's first quarter, ended Nov. 30, were $185.9 million, or 18 cents a share, up from $158.4 million, or 15 cents a share, for the same period a year earlier.
Walgreen sales rose 17 percent to $6.56 billion from $5.61 billion in the same quarter a year earlier.
Walgreen has two stores in Lawrence.
Credit
Providian cuts 800 jobs
Providian Financial Corp. said Thursday it was firing 800 workers in California and Kentucky and warned even more layoffs loom as the hobbled credit card issuer struggles to recover from mounting loan losses.
The firings, affecting 6 percent of Providian's work force, follow 550 job cuts made after the San Francisco-based company decided in November to close a Nevada office.
Providian plans to book a first-quarter charge of between $10 million and $15 million to pay for the firings.
Gold producer
Normandy shareholders asked to accept U.S. bid
Normandy Mining Ltd. on Thursday advised its shareholders to accept a revised $2.2 billion takeover offer from U.S. gold giant Newmont Mining Ltd. over a rival bid from South Africa's AngloGold Ltd.
AngloGold, currently the world's biggest gold producer, said it had no plans to raise its offer but would await the market's reaction to the competing bids.
Normandy's recommendation follows an announcement earlier Thursday by Newmont that it had increased its combined cash-and-share offer.
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