- The Washington Times - Thursday, October 6, 2011

RETAIL

Stores: Solid gains reported for September

NEW YORK | September offered the latest sign that Americans will shop, but only when they think they’re getting a deal.

The International Council of Shopping Centers said Thursday that revenue rose 5.5 percent in September, with several retailers including Target Corp., Limited Brands Inc. and Kohl’s Corp. posting strong gains as consumers snagged discounted merchandise.


The revenue increases, which beat Wall Street estimates, leave uncertainty about whether retailers will have to offer more bargains to lure consumers to buy during the upcoming holiday shopping season. Retailers can make up to 40 percent of their annual revenue in November and December.

GOLD

Price rises past $1,650, down 13% from August high

Gold is above the $1,650 mark, easing concerns among traders that a major sell-off was underway.

Gold for December delivery rose $11.60 Thursday, or nearly 1 percent, to $1,653.20 an ounce Thursday. December silver gained $1.635, or 5.45 percent, to close at $32.005.

Many traders buy and sell gold based on market momentum. A sell-off last week pushed gold below $1,600 for the first time since July. Gold is down about 13 percent from its high of $1,891.90 in late August.

Some investors see a brighter future in gold, thanks to big stimulus measures from European central banks that promise to keep interest rates low.

GREECE

German minister pledges investment in country

VOULIAGMENI | Germany’s economy minister said Thursday that all of Europe must help Greece recover from economic turmoil, and that German businesses would invest in the struggling country.

Philipp Roesler’s comments came as the Greek government prepared to suspend thousands of civil servants as part of austerity measures aimed at staving off a debt default with the potential to roil the global economy.

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