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Central bank to raise interest rates

ALSO IN BUSINESS

The People's Bank of China raised rates for the third time in four months, as authorities ramp up efforts to tame inflation.
The People's Bank of China raised rates for the third time in four months, as authorities ramp up efforts to tame inflation. (Teh Eng Koon)

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Posted jobs down in December: Employers posted fewer jobs in December, the latest evidence that businesses are not ready to step up hiring.

The Labor Department said Tuesday that employers advertised nearly 3.1 million jobs in December, a drop of almost 140,000 from November and the second straight monthly decline. It's also the lowest total since September.

The report provides an indication of future hiring patterns because it can take several months to fill many jobs.

Openings have risen by more than 700,000, an increase of 31 percent, since they bottomed out in July 2009, one month after the recession ended.

Analysts expect companies will start hiring again soon, noting that other data suggest the economy is improving. Consumers are spending more, layoffs have slowed and the Dow Jones industrial average is above 12,000.

- Associated Press

Two airlines raising business fares: United and Continental airlines are raising fares for U.S. business travelers by $20 to $60 for a round-trip ticket. The airlines, owned by United Continental Holdings, raised fares Tuesday. American says it matched the increases. J.P. Morgan analyst Jamie Baker says that selective price increases on business travelers make sense and that price hikes on leisure travelers might have run their course.

- From news services


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