The productivity of American workers plunged at a 2.7 percent annual rate so far this year, the poorest showing since the 1981-82 recession, as labor costs continued to increase, the government said. It also reported that unit labor costs, a gauge of future price inflation, shot up at an annual rate of 7 percent.
C&P Telephone of Maryland filed a proposal with the Maryland Public Service Commission that would protect the phone numbers of selected organizations and individuals from its new Caller ID service, which reveals callers' numbers. Organizations working with battered spouse, rape crisis, sexual assault and child abuse cases would be among those eligible for the program.
Robert Campeau was granted an extension in his bid to regain majority control of the company he founded four decades ago, the National Bank of Canada said. The bank was to have received $34 million last Thursday in return for a number of Campeau Corp. securities seized after a personal loan default.
Consumer confidence in the economy fell slightly during May, according to a monthly survey by the Conference Board. The research group's index of consumer confidence stood at 106.7 in May, down from 107.3 in April.