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Last Update: Thursday, April 17, 2014 1:04 PM EDT

UNEMPLOYMENT BENEFITS
Applications for US jobless aid up 2K to 304,000

The number of people applying for U.S. unemployment benefits last week rose 2,000 to a seasonally adjusted 304,000. Jobless claims continue to be near pre-recession levels despite the slight increase.

The Labor Department says that the four-week average of applications, a less volatile measure, fell 4,750 to 312,000. That is the lowest four-week average since October 2007, just two months before the Great Recession started. The average has fallen by 53,500 applications over the past 12 months.

Applications are a proxy for layoffs. The current level of claims suggests that employers are holding on their workers with the expectation of stronger economic growth ahead.

Employers added 192,000 jobs in March and 197,000 in February, the Labor Department reported. Hiring has picked up after a slowdown caused by severe winter weather.



MORTGAGE RATES
Average US 30-year mortgage rate falls to 4.27 pct

Average U.S. rates on fixed mortgages fell this week for the second straight week as the spring home-buying season begins.

Mortgage buyer Freddie Mac says the average rate for the 30-year loan fell to 4.27 percent from 4.34 percent last week. The average for the 15-year mortgage eased to 3.33 percent from 3.38 percent.

Mortgage rates have risen about a full percentage point since hitting record lows about a year ago.

Many analysts have been expecting an improving economy to lift the housing market, which has been recovering over the past two years. But housing has struggled to maintain momentum. Rising home prices and higher mortgage rates have held back some potential home buyers. Others have had trouble qualifying for mortgages.



EARNS-GOLDMAN SACHS
Goldman Sachs earnings fall 11 percent

Investment bank Goldman Sachs says its first-quarter earnings fell as fixed income trading slumped.

The bank earned $1.9 billion in the quarter, down 11 percent from the same period a year earlier when it made $2.2 billion.

The earnings were equivalent to $4.02 a share. Analysts polled by FactSet had predicted earnings of $3.49 a share.

Revenue totaled $9.3 billion, down 8 percent from a year earlier, when the bank generated revenue of $10.1 billion. The latest quarterly revenue beat analysts' expectations of $8.7 billion.

Goldman's stock rose $2.78, or 1.8 percent, to $160 in pre-market trading.



EARNS-PEPSICO
PepsiCo 1Q jumps on snack sales, cost cuts

PepsiCo reports a stronger-than-expected first-quarter profit as the company slashed costs and sold more snacks around the world.

The company, which makes Frito-Lay, Gatorade, Mountain Dew and Tropicana, says global snack volume rose 2 percent while beverages were even from a year ago.

In its closely watched North American beverage unit, PepsiCo Inc. says volume was even. Growth in other drinks offset a 1 percent decline in sodas.

For the quarter, the company earned $1.22 billion, or 79 cents per share. Not including one-time items, it earned 83 cents per share, above the 75 cents per share Wall Street expected.

A year ago, it earned $1.08 billion, or 69 cents per share.

Revenue edged up to $12.62 billion, higher than the $12.39 billion analysts expected.



EARNS-MATTEL
Weak Barbie sales weigh on Mattel 1Q

Toy maker Mattel says weak sales of Barbie and markdowns to clear out excess inventory left over from a sluggish holiday season led to an unexpected first-quarter loss.

Toy makers are facing a weak environment globally due to the uncertain economy and popularity of electronic gadgets.

The largest U.S. toy maker says its net loss for the three months ended March 31 totaled $11.2 million, or 3 cents per share. That compares with net income of $38.5 million, or 11 cents per share last year. Analysts expected earnings of 7 cents per share.

The company which makes Disney Princess dolls and Hot Wheels cars says revenue fell 5 percent to $946.2 million. Analysts expected $947.6 million. Barbie revenue dropped 14 percent.



TARGET-SUBSCRIPTION SERVICE
Target expands subscription service tenfold

Target is vastly expanding the goods that are available to order by subscription as it fends off its biggest non-traditional retail rival, Amazon.com.

The nation's second-largest discounter first dabbled with subscriptions last September, trying to win over haggard parents with 150 baby care products.

That program has been expanded more than tenfold this week to nearly 1,600 items across a much wider array of consumer goods. Everything from beauty products and pet supplies, to home office supplies like printer ink, are now available through subscription.

Target, based in Minneapolis, is playing catch up in the subscription arena, which has exploded as companies test consumer appetites for almost every niche, from socks to razors, to clothing and entertainment.



WAL-MART-MONEY TRANSFERS
Wal-Mart joins Ria for money transfer service

Wal-Mart is introducing a new money transfer service that it says will cut fees for customers by up to 50 percent compared with similar services.

The service, which will be available April 24, allows its customers to transfer up to $900 to and from more than 4,000 Wal-Mart stores in the U.S.

The service will be done in partnership with Euronet Worldwide's subsidiary Ria Money Transfer.

The program has two pricing tiers: Customers can transfer up to $50 for a $4.50 service fee and up to $900 for $9.50.

The partnership will expand Wal-Mart's financial services for its low-income shoppers.

The competition could hurt competitors.



GERMANY-SAMSUNG-SECURITY
Researcher finds flaw in Samsung fingerprint check

A Berlin-based researcher says he has managed to fool the fingerprint-based security system on Samsung's new Galaxy S5 smartphone using wood glue and a picture of the original print.

Ben Schlabs, an American who works for German firm Security Research Labs GmbH, says the trick is identical to the one hackers used to unlock Apple's iPhone 5 last year.

The flaw is potentially more serious than in the iPhone, because Schlabs says he was also able to trick the electronic payment app PayPal that uses Samsung's authentication system into accepting the fake fingerprint.

Schlabs says users concerned about security can choose to use a strong password instead of the convenient but flawed fingerprint system.

A spokeswoman for Samsung in Germany wasn't immediately able to comment on the issue today.










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