U.S. trade gap narrows sharply in February to $46 billion

WASHINGTON (Reuters) - The U.S. trade deficit narrowed unexpectedly in February as exports hit a record high, imports from China and other key suppliers declined and oil import volume fell to the lowest in 15 years, a government report showed on Thursday. The monthly trade gap shrank 12.4 percent to $46.0 billion, the biggest month-to-month decline since May 2009, the Commerce Department report said. Analysts surveyed before the report had expected the deficit to narrow only slightly from January's revised estimate of $52.5 billion. U.S. exports edged slightly higher to a record $181. ...

Jobless claims unexpectedly rise last week

WASHINGTON (Reuters) - New claims for unemployment benefits rose last week to their highest level since January, a development that could raise fears the labor market recovery was stalling after job creation slowed in March. Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 380,000, the Labor Department said on Thursday. The prior week's figure was revised up to 367,000 from the previously reported 357,000. Economists polled by Reuters had forecast claims falling to 355,000 last week. ...

Producer prices flat in March on gasoline

WASHINGTON (Reuters) - Producer prices were unexpectedly flat in March as a drop in gasoline costs offset rising food prices, according to a government report on Thursday that also showed moderate underlying inflation pressures. The Labor Department said its seasonally adjusted producer price index was unchanged last month after advancing 0.4 percent in February. Economists polled by Reuters had expected prices at farms, factories and refineries to rise 0.3 percent. Wholesale prices excluding volatile food and energy costs rose 0.3 percent after February's 0.2 percent gain. ...

US sues to lower prices of e-book best-sellers

The government says avid best-seller readers who use electronic books have been getting ripped off. Tina Fey's "Bossy Pants," Tim Tebow's "Through My Eyes" and Keith Richards' "'Life" — maybe they should have cost less.

US sues to lower prices of e-book best-sellers

The government says avid best-seller readers who use electronic books have been getting ripped off. Tina Fey's "Bossy Pants," Tim Tebow's "Through My Eyes" and Keith Richards' "'Life" — maybe they should have cost less.