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The Commerce Department says consumer spending edged down 0.1 percent last month after a 0.4 percent increase in June. It was the first decline in spending since January. Income growth slowed to a 0.2 percent rise in July, the weakest showing in seven months.
Earlier this month, Fiat shareholders Nike Basketball Shoes Kobe
Reynolds markets Camel, Pall Mall and Natural American Spirit cigarettes. Lorillard sells Newport, Maverick and Kent cigarettes.
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Consumers have sent mixed signals in recent months. The Michigan index has fluctuated between 80 and 82.5 since December. A measure of consumer confidence by the Conference Board rose this month to nearly a seven year high. And yet Americans cut back their spending in July. investors should soon be able to buy stock in Chrysler for the first time in seven years.
If the Health and Human Services department has trouble this time, that could delay tax refunds for many people.
HHS has to send millions of people who got health insurance tax credits this year a new tax form that's like a W 2 for health care. It's called a 1095 A.
Complicated connections between the new health care law and income taxes will start to surface in 2015.
The fall in spending came primarily from a decline in auto sales, which took a breather in July after posting big gains in recent months, although spending in other areas was also weak. consumer sentiment ticked up in August, driven by greater optimism about jobs, rising incomes, and increasing wealth. The increase largely occurred among higher income groups.
Italy's Fiat and Chrysler are merging to form Fiat Chrysler Automobiles. Nike Foamposite Royal 2017 Fiat says Friday that an ongoing tally of investors suggests there is not enough opposition to derail the deal.
Fiat SpA will announce the final tally by Sept. 4. So far the maximum number of shares to be cashed is below the cap. (AP) Federal regulators are putting Reynolds American Inc.'s planned $25 billion takeover of rival cigarette maker Lorillard Inc. under the microscope.
consumer spending fell in July, with a drop in auto purchases accounting for most of the weakness. Income growth also slowed in July.
In July, Reynolds announced the deal to combine two of the nation's oldest and biggest tobacco companies, creating a formidable No. 2 to rival Altria Group Inc., owner of Philip Morris USA.
approved combining the companies. But Italian law gives dissenters the right to cash out. Fiat has said that if investors offered more than 500 million euros ($650 million) in shares, the merger would be off.
The University of Michigan says its index of consumer sentiment rose to 82.5 from 81.8 in July. Still, it has barely risen in the past year.
said Friday that the Federal Trade Commission has asked for additional information as part of an antitrust review of the deal.
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