Washington, Aug. 22 (Bloomberg) -- More people than expected filed new claims for unemployment benefits in the U.S. last week, evidence that companies aren't confident enough about the recovery to increase payrolls.
States received 389,000 initial applications, down from 391,000 the previous week, the Labor Department said. Economists had expected claims to fall.
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Toronto-Dominion Bank had its first quarterly loss in 15 years, as Canada's second-biggest bank set aside C$1.25 billion ($805 million) to cover bad loans.
The net loss in the fiscal third quarter was C$428 million, or 67 cents a share, compared with year-earlier net income of C$321 million, or 51 cents. Results reflect payment of preferred dividends, the bank said.
Toronto-Dominion, Canada's largest lender to telecommunications companies and one of the 10 biggest in North America, has raised reserves for loan losses three times this year, most recently to C$2.15 billion. The bank's clients included XO Communications Inc. and BCE Inc.'s Teleglobe, which went bust after building underused phone networks.
``The real question is why are banks continually seduced by the lure of corporate investing when the risks are so high,'' said Gavin Graham, director of investments for Guardian Group of Funds in Toronto, which manages about C$2.3 billion in assets, including Toronto-Dominion shares.
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NY Times business editor dies in fall
NEW YORK (Reuters) - A business editor at The New York Times, Allen Myerson, died Thursday after falling from the top floor of the Times' building in midtown Manhattan, a spokeswoman for the newspaper said.
Police said his death appeared to be a suicide but that the case remained under investigation.
The body of Myerson, 47, was found on the roof of a parking garage next to the Times building on West 43rd Street shortly before 10 a.m. (1400 GMT), Times spokeswoman Catherine Mathis said.
Police said he was pronounced dead at the scene.
It appeared Myerson fell from the top floor of the 15-story Times building, Mathis said. That floor of the Times is commonly used for receptions.
He had worked at the Times since 1989, she said.
He is survived by his wife, Carol Cropper Myerson, and they had no children, the Times said.
Sources in the New York Police Department said he left a note behind, but the Times said that could not be confirmed.
Police said there were no signs of foul play. |
