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Announced layoffs slip in Aug.
Planned layoffs at U.S. firms slid 6% to 79,925 from 85,117 in July, job placement firm Challenger, Gray & Christmas said. Telecom firms led layoffs for the first time in quite awhile. Overall, year-to-date announced cuts of 795,574 are down 15% from 2002's pace. But Challenger said a hiring boom is far off.
Home price growth at 4-year low
U.S. average home prices rose an average 5.56% in Q2, the Office of Federal Housing Enterprise Oversight said. That's a solid gain, but it's the least since the 5.55% rise in Q3 '99. Price growth has slowed for the past four quarters. Annualized, home prices rose 3.13%. Rising mortgage rates and a weak job market cooled appreciation somewhat. California and the East Coast remain the hottest property markets.
** President Bush had lunch with Federal Reserve Chairman Alan Greenspan to discuss the economy. With the election campaign heating up, Bush wants to be seen as concerned about the economy.
** The EU rejected Austria's bid to ban farmers in one ...