Nation briefs


Teen is welcomed home after ordeal

LAKESIDE, Calif. — A 16-year-old girl got a warm welcome home reception five days after FBI agents killed a longtime family friend suspected of torturing and killing her mother and brother and escaping with her to the Idaho wilderness.

Hannah Anderson was mobbed by reporters as she entered and left a restaurant that hosted an all-day fundraiser. News crews were told to wait outside while Hannah and her father stayed for hours. She did not make a statement.

“I don’t know what I want to say. I just want to give her a hug,” said Alyssa Haugum, a classmate of Hannah’s in Lakeside, an east San Diego suburb of 54,000 people.

Brett Anderson said his daughter was taking things one day at a time. He said he spoke with the horseback riders who saw the pair in the Idaho wilderness and alerted authorities, thanking them for saving Hannah’s life.

Investigators found 8-year-old Ethan’s body as they sifted through rubble.

Investigators who searched the alleged kidnapper’s home found letters from Hannah, an incendiary device, handcuff boxes, a handwritten note, a Yosemite camping guide, two used condoms and “arson wire,” according to one warrant, which does not elaborate on the content of letters or nature of the devices.

Home building increased in July

WASHINGTON (AP) — U.S. developers broke ground on homes at a faster pace in July. But the rise was all due to apartment construction, which is typically volatile. By contrast, builders began work on fewer single-family homes — the bulk of the market — and sought fewer permits to build them.

Friday’s report from the Commerce Department suggests that home building is maintaining its recovery but might be starting to be restrained by higher mortgage rates.

Builders began work on houses and apartments at a seasonally adjusted annual rate of 896,000 in July, the department said. That was up 6 percent from June, though below a recent peak of more than 1 million in March. Construction began on 26 percent more apartments but declined 2.2 percent for single-family houses.

The dip in single-family starts comes after other measures of the housing market have flattened or declined. It may signal that higher loan rates have begun to weigh on housing, which has otherwise steadily recovered since earlier last year.

Mortgage applications by potential homebuyers have fallen 15 percent since the end of April. Signed contracts to buy homes slipped in June after reaching a six-year high in May.

The average rate on the 30-year loan was 4.4 percent this week — a full percentage point higher than in early May.

SEC approves $8B sale of NYSE

WASHINGTON (AP) — U.S. regulators have approved the proposed $8 billion sale of the venerable New York Stock Exchange to a much younger futures exchange. The deal is a symbol of how financial markets are being increasingly reshaped by high technology.

The Securities and Exchange Commission disclosed Friday that it’s authorized the takeover of the two-centuries-old NYSE’s parent by Atlanta-based IntercontinentalExchange, or ICE. The rival acquiring company, founded in 2000, has expanded rapidly through acquisitions over the past decade.

The SEC said in a filing that it’s determined that the merger of the exchanges would comply with securities laws and regulations. The merger also must be approved by regulators in Europe. Dow has worst week of 2013

NEW YORK (AP) — Stocks fell Friday, closing out what was the worst week of the year for the Dow Jones industrial average.

The market was dragged lower by a weak performance from retailers and companies sensitive to higher interest rates. Homebuilders and banking stocks were among the best performers.

Stocks had a decent start to the week, but investors were hit hard the last three days. The Dow retreated 2.2 percent for the week, its worst in 2013. The broader Standard & Poor’s 500 index lost 2.1 percent for the week, its second-worst performance of the year.

The possibility of a cutback in the Federal Reserve’s massive bond-buying program in September has roiled the bond market, which has spilled over into stocks.

Dow has worst week of 2013

NEW YORK (AP) — Stocks fell Friday, closing out what was the worst week of the year for the Dow Jones industrial average.

The market was dragged lower by a weak performance from retailers and companies sensitive to higher interest rates. Homebuilders and banking stocks were among the best performers.

Stocks had a decent start to the week, but investors were hit hard the last three days. The Dow retreated 2.2 percent for the week, its worst in 2013. The broader Standard & Poor’s 500 index lost 2.1 percent for the week, its second-worst performance of the year.

The possibility of a cutback in the Federal Reserve’s massive bond-buying program in September has roiled the bond market, which has spilled over into stocks.

 

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