Thursday, December 4, 2008

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1,000 more jobs lost

COLUMBIA â€" South Carolina has lost more than 1,000 manufacturing jobs in the past month as the state's economy continues to sour. The tiny town of Whitmire in Newberry County took the latest and biggest blow. The town's only major plant, owned by sock maker Renfro Corp., is closing at the end of January, leaving 570 workers without a job.

UAW to suspend program that pays those not working

DETROIT â€" The United Auto Workers said Wednesday it is willing to change its contracts with U.S. automakers and accept delayed payments of billions of dollars to a union-run health care trust to do its part to help the struggling companies secure $34 billion in government loans. United Auto Workers President Ron Gettelfinger said the union will suspend the jobs bank, in which laid-off workers are paid up to 95 percent of their salaries while not working, but he did not give specifics or a timetable of when the program will end.

Tests show fewer toys with lead

NEW YORK â€" After the high-profile recalls of millions of lead-contaminated toys last year, a watchdog group said Wednesday that its tests found fewer toys with high levels of chemicals in them this year. But about a third of the toys tested still contained a worrisome level of chemicals.

King Street's Pete Banis Shoes closing

After 50 years in business, Pete Banis Shoes will close its doors at the end of the month. The King Street store, owned by Drew and Ernie Banis, is known for carrying footwear that mimics couture fashion but with a more affordable price tag. "We made it 50 years, but with the economy as it is, it's time to close," said Drew Banis.

Wall St. shrugs off downbeat reports

NEW YORK â€" Wall Street withstood another stream of bad economic readings Wednesday, closing sharply higher as investors shuttled between pessimism about the recession and hopes that the nation might start seeing relief soon. The major indexes saw big swings throughout the day, but all closed up more than 2 percent, giving the market its second straight advance.

The Post and Courier

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