NEW YORK (AP) — Stocks are higher today on signs that the economic recovery is gaining strength. Word of increases in home prices and orders for airplanes and other durable goods sent stocks up from the opening bell. Other reports this morning weren't as positive -- consumer confidence slipped this month and new home sales were down in February.
WASHINGTON (AP) — The nation's leading group of financial risk analysts says medical claims costs will jump an average 32 percent for individual policies under President Barack Obama's health care overhaul. The Society of Actuaries says costs would go down in a few states, but the overwhelming majority would see double-digit increases in their health insurance markets as sicker people join the pool. The report estimates that by 2017, costs will increase by 62 percent in California and 80 percent in Ohio.
NEW YORK (AP) — Supervalu is eliminating about 1,100 positions nationwide, or about 3 percent of its workforce, less than a week after the supermarket operator completed the sale of five of its grocery chains. The company says job eliminations will occur at nearly all company offices and across most departments. Supervalu has nearly 3,500 stores in the U.S. and approximately 35,000 employees.
NEW YORK (AP) — T-Mobile USA says it will start offering the iPhone 5 on April 12, filling what its CEO calls "a huge void" in its phone lineup. The No. 4 U.S. cellphone company has been losing customers to its bigger rivals that sell iPhones. T-Mobile will charge $100 up front for the iPhone 5 with a total monthly cost starting at $70 per month, substantially less than larger companies charge.
LONDON (AP) — A private U.S. company is going to take over the work of Britain's military search-and-rescue helicopter service, which has been run by the Royal Navy and Royal Air Force for 70 years. The British government announced today that Bristow Group has won a $2.4 billion contract to operate the service. The Houston, Texas-based company says it will replace Britain's aging Sea Kings, which Prince William flies, with more advanced helicopters.