This week in business
Published: Mon, Sep. 08, 2008 12:30AM
Modified Mon, Sep. 08, 2008 05:44AM
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closeEYES ON CONSUMER CREDIT TODAY
The Federal Reserve releases its consumer credit report for July this afternoon. Consumer credit is expected to fall 38 percent from June.
Last month's total was boosted as consumers shopped (and borrowed) more as they received tax-rebate checks. Growth of $8.8 billion would be the smallest increase in consumer credit since December. Consumer spending accounts for the lion's share of growth.
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HOT EARNINGS NOW!
On Thursday, Krispy Kreme Doughnuts and Campbell Soup report financial results. Analysts expect a loss from the Winston-Salem doughnut maker. But expectations are brighter for Campbell, based in Camden, N.J.
Companies' ability to pass along rising ingredient costs to customers will play a key role in food makers' results in coming quarters.
ECONOMIC CALENDAR
TUESDAY: The National Association of Realtors reports on pending home sales for July.
THURSDAY: The Commerce Department releases international trade numbers for July.
FRIDAY: The Commerce Department releases the retail sales report for August and business inventories for July; Labor Department releases the Producer Price Index for August; University of Michigan releases its preliminary report on consumer confidence for September.
SMITHFIELD FOODS GOES TO COURT
In Richmond, a federal court is scheduled to hold a hearing today on Smithfield Foods' racketeering lawsuit against a union seeking to organize workers at its hog slaughterhouse in Tar Heel.
The plant, in Bladen County, is the world's largest meat-processing facility and employs more than 5,000 workers. It has been the center of a lengthy fight between Smithfield and the United Food and Commercial Workers union.
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