Business news with words department+fears. 24 news.

New-home sales tumbled last month to their lowest level in more than 12 years, the Commerce Department said Friday, as housing shows no sign of a...

SAN FRANCISCO (MarketWatch) -- Crude oil rallied more than $2 Friday to over $93 a barrel after a government report showed November U.S. consumer spending increased by the largest margin in more than two years, easing fears that oil demand from the world's largest crude consumer may slow. Crude oil for February delivery ended the session up $2.25, or 2.5%, at $93.31 a barrel on the New York Mercantile Exchange. The Commerce Department reported Friday that U.S. nominal consumer spending increased 1.1%, the most in two and a half years. Economists had been expecting November's spending to rise 0.9%. At the same time, nominal incomes only rose 0.4% in the same month.

Now that millions of people's private details are at risk on discs lost by HM Revenue & Customs, the Department for Transport and other institutions, fears about identity fraud are rising.

John Lewis, the department store chain, is on track to see weekly sales of £100m for the first time ever this week, bringing a much-needed boost to the retail sector after a sluggish start to the Christmas trading season. The record-breaking figure, never before achieved in the retailer's 143-year history, will help to dispel fears of a widespread consumer slowdown. John Lewis said that sales between Sunday and yesterday morning were up by 7.4pc compared to the same week last year. That week, the retailer reported sales of £93.8m. This means that if sales growth continues at its current level until Saturday,

Department store John Lewis has reported its biggest ever weekly sales figure as shoppers flocked to its stores across Britain - despite growing fears of a slow-down in high street spending in the run up to Christmas

Sales at John Lewis hit record levels last week as the department stores group shrugged off concerns about a possible downturn in consumer spending.

CRUDE oil fell below US$90 a barrel on Friday in the biggest weekly loss in two and a half years on concern that slowing economic growth will cut energy demand. Saudi Oil Minister Ali al-Naimi said supplies in the market were "ample." Consumer spending in the US rose less than forecast in October and incomes increased at the slowest pace in six months, the United States' Commerce Department said in Washington. Al-Naimi, speaking in Doha, said oil prices didn't reflect actual production and consumption trends, Bloomberg News reported. "The market is simply becoming more concerned about a possible recession that could reduce petroleum demand," said James Ritterbusch, president of Ritterbusch & Associates in Galena, Illinois. "We have been seeing evidence for some time of a weakening economy and weakening oil demand." Crude oil for January delivery fell US$2.30, or 2.5 percent, to settle at US$88.71 a barrel at 2:45pm on the New York Mercantile

The Phoenix Fire Department is cracking down on how businesses handle combustible materials, and a new law requires that the state conduct more health investigations after serious chemical fires.

After personal details on millions of UK families went missing from the HM Revenue & Customs department this week, fears of identity theft soared, but every day, and by their own oversights, individuals leave themselves vulnerable to less dramatic and much more common financial frauds.

NEW YORK (MarketWatch) -- Gold futures rose Friday, after the Labor Department reported higher-than-expected nonfarm payroll growth in October and the dollar fell against most of its major rivals. Gold for December delivery gained $5.40 at $799.10 an ounce on the New York Mercantile Exchange. Shaking off fears about weakness in housing and credit, the U.S. economy created 166,000 net jobs in October, the best job growth since May, the Labor Department reported Friday.

WASHINGTON (MarketWatch) - Shaking off fears about weakness in housing and credit, the U.S. economy created 166,000 net jobs in October, the best job growth since May, the Labor Department reported Friday. The unemployment rate was steady at 4.7% as expected. Job growth as measured by a survey of 400,000 businesses was stronger than the 93,000 expected by economists surveyed by MarketWatch, but a separate survey of 60,000 households showed a loss of 250,000 workers, the third decline in the past four months. Jobs continued to be lost in the manufacturing and construction sectors, offset by growth in public schools, health care, business services, food service, and temporary-help services. Average hourly earnings rose 3 cents to $17.58 an hour, or 0.2%. Average hourly earnings are up 3.8% in the past year.

WALL Street plunged yesterday, pulling the Dow Jones industrial average down more than 360 points as investors found themselves confronted by two uncomfortable prospects: an end to interest rate cuts and a slowing economy. Mindful of a warning from the Federal Reserve Wednesday about inflation, the market nervously watched the price of oil, which passed US$96 a barrel overnight for the first time before dipping on profit-taking. The Fed, which cut interest rates a quarter point, said in a statement that inflation remained a concern, and oil's ascent to another record raised the possibility not only that the Fed might stop cutting rates, but that it might even consider raising them if inflation accelerates. Meanwhile, Wall Street also had to contend with concerns about a slowing economy. A report from the Commerce Department indicated consumers scaled back their spending in September as worries mounted about a worsening housing market and further credit market turmoil. And a

NEW YORK Wall Street plunged in early trading today as surging oil prices and slower growth in consumer spending erased optimism about the Federal Reserve's positive take on the economy just a day earlier. The Dow Jones industrials skidded more than 200 points. Inflation fears revived as crude oil vaulted to a record $96 a barrel. Meanwhile, a report from the Commerce Department indicated consumers scaled back their spending in September as worries mounted about a worsening housing market and further credit market turmoil. That combination led investors to retreat from Wednesday's rally,

ASIAN stocks rose to a record yesterday after a pickup in US hiring stoked optimism that the world's biggest economy will avoid a recession. BHP Billiton Ltd, the world's largest resources company, led raw materials producers higher. Hon Hai Precision Industry Co, which produces iPhone handsets and PlayStation 3 game consoles, gained on speculation that US consumer spending will strengthen. The data point "to a soft landing in the US, which is the best scenario that investors could hope for," said Leslie Phang, who helps manage US$1 billion at Commonwealth Private Bank in Singapore. "We're seeing a very favorable market outlook. If global economies continue to perform all right, Asian companies will do very well." The Morgan Stanley Capital International Asia-Pacific excluding Japan Index added 0.4 percent to 550.19 yesterday in Hong Kong, exceeding its October 2 record close of 549.66. Japan's market was closed for a holiday. Pakistan's Karachi Stock Exchange 100 Index climbed to a new high after President Pervez Musharraf won an election, and benchmarks in Australia and the Philippines also set records. Hong Kong's Hang Seng Index closed 0.2 percent lower, after earlier surging 2.3 percent to an intraday high. Stocks in the United States rallied on Friday, lifting the Standard & Poor's 500 Index to a record, after the Labor Department said the number of jobs in the country increased by 110,000 in September, more than the 100,000 additions forecast by economists in a Bloomberg News survey. The August figure was revised to an increase of 89,000 from a drop of 4,000. Last week's jobs data contributed to confidence that the US economy will be able to weather losses from subprime, or higher risk, mortgage losses. "The US jobs market is holding up despite the market's fears, and that means the consumer is more likely to survive the recent turmoil," said Hans Kunnen at Colonial First State Global Asset Management in Sydney. "The stars are aligned for the resources sector." BHP Billiton rose 1.3 percent yesterday to A$44.69 (US$40.15). PT International Nickel Indonesia, the nation's biggest nickel producer, climbed 2.2 percent to 69,000 rupiah (US$7.59). Korea Zinc Co, the world's second-largest zinc smelter, gained 1.1 percent to 188,000 won (US$205.58). A measure of six metals traded on the London Metal Exchange, including copper and nickel, rose 0.6 percent. Copper added 0.1 percent, nickel increased

Employment rose by 110,000, the U.S. Labor Department said Friday. Economists say more jobs and rising wages could help consumers weather depressed home values.

Fears that the country could slide into a recession eased in September as employers created the most jobs in four months and workers' wages grew solidly. The unemployment rate crept up to 4.7 percent, the highest in over a year but still low by historical standards. The tally of 110,000 net new jobs generated in September clearly heartened investors and analysts. Yet what they really took comfort in was the revelation that the job market -- a main pillar for the economy -- didn't crack under the pressure of a painful credit crunch and housing slump in August after all. The Labor Department's fresh snapshot of employment conditions around the country released Friday showed that the economy actually created 89,000 jobs in August. That was a huge and crucial turnaround from the loss of 4,000 jobs -- the first decline in four years -- reported a month before. At the time, that news had sent Wall Street into a nosedive, stoked fears the economy was heading toward recession and was seen as cementing the Federal Reserve's decision to lower interest rates.

WALL Street capped a huge week with a sharp advance yesterday after the government's employment report for September and its revision of August's data cooled the market's fears of a recession. The Standard & Poor's 500 index, the measure most closely followed by market watchers, reached a new closing high. The Labor Department's report that employers added 110,000 jobs in September _ essentially what analysts had expected _ reassured Wall Street that the job market wasn't pulling back sharply as was feared a month ago. Though the data appeared to lessen the likelihood of an interest rate cut when the Federal Reserve meets Oct. 30-31, investors were relieved that the economy doesn't appear headed for a precipitous slowdown. Strength this year in the job market amid a housing downturn and tighter credit conditions has been an important pillar for the economy. With consumer spending accounting for about two-thirds of US economic activity, investors are eager for workers to continue to collect their paychecks. Much of Wall Street's collective exhale yesterday owed to a revision in August payrolls, which were updated to show a gain of 89,000 jobs compared with an earlier estimate of loss of 4,000 jobs. The release of the August figure _ when economists had predicted a rise _ sent the Dow down nearly 250 points in a single session and, market watchers say, played a role in the Fed's decision to cut its key interest rate by a larger-than-expected half-percentage point last month. "We're not seeing a weakening of the labor market. There's no indication that the wheels are falling off," said T.J. Marta, economic strategist at RBC Capital Markets. He contends that while the employment figures make it less likely the Fed will cut rates this month, many on Wall Street were relieved to see the economy forging ahead. "It looks bad compared with the rip-roaring days in the housing sector but this is called normalcy." The Dow Jones industrial average rose 91.70, or 0.66 percent, to 14,066.01. The blue chip index set a new trading high of 14,124.54, topping a high of 14,115.51 set Monday, when the index also saw a record close. Broader stock indicators also jumped. The S&P 500 index rose 14.75, or 0.96 percent, to 1,557.59. The advance put the S&P 500 ahead of the previous record close of 1,553.08, which occurred July 19 before stocks began a broad retrenchment amid concerns about credit, housing and the overall economy. The S&P 500

Reuters - U.S. employers added 110,000 jobs in September and August's job losses were revised into a gain in a Labor Department report on Friday that lifted some worry about a recession in the near term.

High-street department store Bhs has become the latest retailer to allay fears of a collapse in consumer confidence, after revealing that like-for-like sales have bounced back in the last six weeks.

WASHINGTON The economy rebounded with a good head of steam in the spring before a credit crisis raised new fears about longer-term business health. The Commerce Department reported Thursday that the economy grew at a 3.8 percent annual rate in the April-to-June quarter, the strongest showing in just over a year. Although the new reading for the second quarter was slightly less robust than a previous estimate of a 4 percent growth rate, it nonetheless marked a substantial improvement over the feeble 0.6 percent growth rate registered in the prior quarter. The increase in