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Administration plans to wind down clunkers program

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.

Sears moves to quarterly loss on store closings, costs

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.

New jobless claims rise unexpectedly to 576,000

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.

Groups sue to cut emissions at Chevron Phillips plant

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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Houston Chronicle
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Houston, TX 77210
fax 713-362-7273

Business editor:
Laura Goldberg

Assistant business editors:
Mark Babineck

Don Mason

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