San Diego | Hilton Hotels Corporation

Yahoo News Alert…
SAN DIEGO | Hilton Hotels Corporation (NYSE:HLT) announced today the groundbreaking of the Hilton San Diego Convention Center, a 30-story, 1,190-room hotel on the edge of the San Diego Bay that will connect directly with the San Diego Convention Center. Hilton Hotels Corporation has formed a joint venture with ING Clarion Partners, a leading real estate investment advisory firm to own and operate

Last Week in the News – Economic Update!

Last Week in the News
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Sales of existing homes fell for a third straight month in December to their lowest rate in nearly two years, NAR reported January 25. Sales fell 5.7% to a seasonally adjusted annual rate of 6.6 million units, a sharper slowdown than the 6.9 million predicted. For the year, however, 7.07 million units were sold, making 2005 the fifth straight year of record home sales.

Paced by strong demand for military aircraft, machinery and autos, orders for durable goods (items expected to last at least three years) rose by 1.3% in December, the third straight monthly increase. For 2005, orders climbed 8.2% to an all-time high of $2.51 trillion, the Commerce Department said January 26.

The Conference Board’s Index of Leading Economic Indicators rose 0.1% in December, the private research group said January 23. The December increase followed gains of 0.9% in November and 1% in October. The three consecutive monthly gains suggest an economy that is likely to moderately expand in the near term.

New unemployment claims rose by 11,000 in the week ended January 21, the Labor Department reported January 26. Despite the slight increase, the less volatile four-week average of initial claims fell by 10,750 to 288,750, the lowest level in more than five years.

After falling six straight weeks, rates on 30-year mortgages for the week ended January 27 edged up slightly, according to the latest Freddie Mac survey.

This week look for updates on construction spending on February 1.

Sales of existing homes fell for a third straight month in December to their lowest rate in nearly two years, NAR reported January 25. Sales fell 5.7% to a seasonally adjusted annual rate of 6.6 million units, a sharper slowdown than the 6.9 million predicted. For the year, however, 7.07 million units were sold, making 2005 the fifth straight year of record home sales.

Paced by strong demand for military aircraft, machinery and autos, orders for durable goods (items expected to last at least three years) rose by 1.3% in December, the third straight monthly increase. For 2005, orders climbed 8.2% to an all-time high of $2.51 trillion, the Commerce Department said January 26.

The Conference Board’s Index of Leading Economic Indicators rose 0.1% in December, the private research group said January 23. The December increase followed gains of 0.9% in November and 1% in October. The three consecutive monthly gains suggest an economy that is likely to moderately expand in the near term.

New unemployment claims rose by 11,000 in the week ended January 21, the Labor Department reported January 26. Despite the slight increase, the less volatile four-week average of initial claims fell by 10,750 to 288,750, the lowest level in more than five years.

After falling six straight weeks, rates on 30-year mortgages for the week ended January 27 edged up slightly, according to the latest Freddie Mac survey.

This week look for updates on construction spending on February 1.