BorderLine to close
A home-furnishings shop in east Lawrence is closing later this month, less than a year after it relocated from Massachusetts Street.
BorderLine, 846 Pa., will close by the end of the month, owner Peggy Wright said.
She cited a sluggish economy in her decision to close, and she intends to sell her remaining inventory at a discount.
Wright opened BorderLine in 1998 at 820 Mass., but said she decided to move into east Lawrence to take advantage of a rare opportunity: nearly twice as much space at nearly a third of the rent as she had on Massachusetts Street.
Agriculture
Farm income to fall without more aid
With crop prices mired near record lows, the government says farm earnings will drop 20 percent this year unless Congress enacts a new farm program quickly or approves more emergency payments.
The Agriculture Department estimated Thursday that net farm income would fall to $40.6 billion this year, down from $49.3 billion in 2001, without additional federal aid.
Economy
Jobless claims decline
The number of Americans filing new claims for unemployment benefits dropped during the first week of the new year, suggesting the wave of layoffs triggered by the recession and the terrorists may be abating.
The Labor Department reported Thursday that new claims for unemployment benefits fell by 58,000 last week to 395,000, the lowest level in three weeks.
Textile
Burlington to cut jobs
Burlington Industries, once the world's largest textile maker and now in bankruptcy protection, plans to cut 4,000 jobs and five plants in the United States and Mexico.
Announcing the actions Thursday, the Greensboro, N.C.-based company cited competition from cheaper foreign imports and an uncertain economic outlook.
Retail
Holiday discounts could prove costly
A surge of last-minute shopping saved many retailers from a disastrous holiday performance, but the heavy discounting that fueled it was expected to hurt fourth-quarter profits.
December sales figures reported by the nation's largest retailers Thursday show discount and moderately priced chains achieved better-than-expected gains.
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