China increases holdings of U.S. Treasury securities
China, the biggest buyer of U.S. Treasury debt, boosted its holdings in April, the first increase after five straight declines.
The Treasury Department said Wednesday that China increased its holdings by $7.6 billion to $1.15 trillion.
Total foreign holdings of Treasury securities rose 0.2 percent to $4.49 trillion.
Japan, the second largest buyer of U.S. debt, trimmed its holdings slightly by $1 billion to $906.9 billion. There had been concerns that the March 11 earthquake and tsunami would lead Japan to sharply reduce its purchases to use the money for reconstruction.
Profitable summer seen ahead of iffy fall
DALLAS — This promises to be a moneymaking summer for the airlines, with planes full of passengers paying higher fares than a year ago. But there could be a fall chill in the air.
Leisure travelers say they’re cutting back on travel because of high-priced tickets, concern about the economy and the need to spend more for everything from food to gasoline.
Airlines are planning to reduce flights once summer ends. Some are already offering sales to fill their planes when vacation season is over.
“We are worried about what happens after Labor Day,” said Helane Becker, an analyst for Dahlman Rose & Co.
JPMorgan Chase settles auto credit case
JPMorgan Chase Bank has agreed to pay $2 million to settle federal regulators’ civil claims that it used high-pressure tactics and false statements to get auto loan customers to buy contracts that would suspend or cancel loan payments in case they lost their job.