Transportation Secretary Ray LaHood said Wednesday the department would announce within 48 hours how it intends to discontinue the program that offers car buyers rebates of $3,500 or $4,500 for trading in older vehicles for new, more fuel-efficient models.
The retailer that owns Sears and Kmart stores lost $94 million, or 79 cents per share, for the period ended Aug. 1. That compares with a profit of $65 million, or 50 cents per share, a year ago.
The Labor Department says the number of first-time jobless claims rose to a seasonally adjusted 576,000 last week, from a revised figure of 561,000. Wall Street economists expected a drop to 550,000, according to a survey by Thomson Reuters.
The Sierra Club and Environment Texas allege that the Cedar Bayou chemical plant in Baytown has released more than 1 million pounds of toxic pollutants into the air since 2003.
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