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Retail sales better than last year
The Redbook average for U.S. same-store sales rose 1.7% in the week ended Aug. 3 from 2001 levels. Compared with last year, July sales were up 1.7%. But July sales were 0.4% short of June levels. Instinet, which puts out the report, said merchants reported a somewhat firmer tone in sales toward the weekend, which they attributed to the beginning of the back-to-school season.
Greenspan receives knighthood
Queen Elizabeth II gave the Federal Reserve chief the title of honorary Knight of the British Empire. Americans who receive such titles are not addressed as Sir, but may use the letters KBE after their names. Other …