NEW YORK (AP) -- Stocks are edging higher in early trading on Wall Street after a pair of encouraging reports on the U.S. economy that showed faster growth and fewer layoffs. The Dow was up as much as 45 points in the first hour of trading, while the broader indexes were also making gains.
WASHINGTON (AP) -- The Commerce Department has revised its estimate of second quarter economic growth sharply higher. It now says the U.S. economy grew at a 2.5 percent annual rate from April through June, up from an initial estimate of 1.7 percent. The steep revision was largely because U.S. companies exported more goods and imports declined.
WASHINGTON (AP) -- The number of Americans seeking unemployment benefits remains near the lowest level in more than five years. The Labor Department says weekly applications for benefits fell 6,000 last week to a seasonally adjusted 331,000. Benefit claims reflect layoffs. At the depths of the recession, they numbered 670,000.
LONDON (AP) -- Vodafone says it's talking to Verizon Communications about selling its U.S. operations. The British company holds a 45 percent stake in Verizon Wireless, while Verizon Communications owns the other 55 percent. Analysts have suggested that Verizon wants to pay around $100 billion for Vodafone's stake, but Vodafone may be looking for more.
NEW YORK (AP) -- Those looking for a quick burger at lunch today might run into striking workers. Fast-food workers are staging walkouts as part of a push to get chains such as McDonald's, Taco Bell and Wendy's to pay higher wages. Participating workers say they want $15 an hour, which would be about $31,000 a year for full-time employees.
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