In-flight security rules eased
DALLAS (AP) _ In-flight security rules have been eased after a two-day clampdown, airline officials familiar with the matter said Monday.
At the captain's discretion, passengers can once again have blankets and other items on their laps or move about the cabin during the tail end of flight. In-flight entertainment restrictions have also been lifted.
Tougher airline security measures were imposed Friday after a man flying from Nigeria to Amsterdam then to the U.S. on a Northwest Airlines flight tried to ignite an explosive as the plane prepared to land in Detroit.
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Retailers' stores thinly stocked; profits won't be
ATLANTA (AP) _ Retailers have thin inventories after coming out of Christmas with slightly better-than-expected sales.
Some retailers kept inventory so low they've had to bring in new merchandise to restock shelves, a rare move this soon after Christmas.
That's good news for their bottom lines. But it means slim pickings for shoppers hoping for after-Christmas clearance sales. Shoppers looking for big sales should act quickly because there are relatively few leftovers to clear out.
Because their ordering was in line with weak demand, retailers were able to sell more items at higher prices, which is critical to profits. Last year, profits were hammered by fire-sale discounts to get rid of the excess.
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Stocks edge higher as shoppers step up spending
NEW YORK (AP) _ Better holiday sales and rising commodities prices pushed stocks to their sixth straight gain and new highs for 2009.
Major indexes edged higher in light trading Monday after sales figures showed shoppers spent more freely this holiday season, a sign that consumers are feeling better about the economy. The Dow Jones industrial average rose 26.98, or 0.3 percent, to 10,547.08, its highest close since Oct. 1, 2008.
Figures from MasterCard Advisors' SpendingPulse, which track all forms of payment, show retail sales rose 3.6 percent from Nov. 1 through Dec. 24, after dropping during that time last year. Adjusting for an extra shopping day between Thanksgiving and Christmas, the number was closer to a 1 percent gain.
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Fed exit strategy: Let banks set up CDs
WASHINGTON (AP) _ The Federal Reserve on Monday proposed allowing banks to set up the equivalent of certificates of deposit at the central bank, a move that would help the Fed mop up money pumped into the economy and prevent inflation from taking off later.
Under the proposal, the Fed would offer so-called "term deposits" that would pay interest. Doing so would provide banks with another incentive to park their money at the Fed, rather than having it flow back into the economy.