New York retailers probed after racial profiling claims
Reuters: The New York state attorney general is investigating Macy's Inc and Barneys New York Inc. after complaints from black customers who were stopped by police after making luxury purchases, the New York Daily News reported on Tuesday. Attorney General Eric Schneiderman has set Friday as the deadline for the stores to turn over information about their policies for detaining and questioning customers based on race, according to the Daily News.
Home prices continue to climb
CNNMoney: Home prices in August posted the largest annual gain since housing bubble days, although the month-over-month gain slowed for the fourth straight month. The closely watched S&P/Case-Shiller home price index increased 12.8 percent from a year earlier, the biggest 12-month gain since February 2006. But with mortgage rates significantly higher in recent months, the pace of increases is slowing. The 1.3 percent rise compared with July is only half the monthly increase posted in April, when mortgage rates were near a record low. Still, the recovery in the housing market continues to be strong, helped by a drop in foreclosures that were weighing on overall prices.
U.S. small business borrowing grew in September
Reuters: U.S. small business borrowing rose last month from a year earlier, an index that tracks lending showed on Tuesday. The results signalled moderate growth ahead for the economy as a whole. The Thomson Reuters/PayNet Small Business Lending Index, which measures the volume of financing to small companies, registered 109.7 in September, down 6 percent from August but up 16 percent from the same month a year earlier. The differing number of business days in each month accounts for much of the change, PayNet founder Bill Phelan said, who looks to three-month rolling averages for a better reading on the underlying trend. That average, he said, is on a slow, upward path, with September registering an 11 percent rise, compared with a 7 percent gain at the start of the year.