Gun company comes to Myrtle Beach area
Ithaca Gun Company, an Ohio-based firearms manufacturer, will locate a manufacturing plant in the Myrtle Beach area, investing $6.7 million and creating 120 jobs, the S.C. Department of Commerce said Thursday. The 20,000-square-foot facility near Aynor is expected to open next year. New jobs include machine operators, gunsmiths, engineers and assemblers.
Stock market soars on deal to avoid default
NEW YORK The stock market closed at an all-time high a day after Washington reached a deal to avoid a U.S. default. The Standard & Poor’s 500 stock index rose 11 points to close at 1,733 Thursday, beating its previous closing high of 1,725 reached Sept. 18. The Dow Jones industrial average failed to match that success. The Dow fell two points to close at 15,371, held back by declines in IBM, Goldman Sachs and UnitedHealth, which issued results that disappointed investors.
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Delta website back online after outage
ATLANTA The website for Delta Air Lines Inc. was working again Thursday after an outage that lasted roughly four hours and took down Delta’s mobile app, too. During that time passengers couldn’t check in for flights or book new tickets on Delta’s site. Atlanta-based Delta says the problem was caused by overnight maintenance on its computers. It apologized for the outage.
Mortgage rates up slightly
WASHINGTON Average U.S. rates on fixed mortgages rose slightly this week, staying near three-month lows. Rates could fall next week now that lawmakers reached a deal to avert a possible government debt default and reopen the federal government. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan increased to 4.28 percent from 4.23 percent last week. The average on the 15-year fixed loan edged up to 3.33 percent from 3.31 percent.
Previous owners still live in ‘vampire’ foreclosures
Just in time for Halloween, RealtyTrac has issued a new report on “vampire” foreclosures. Vampire foreclosures are defined as homes that have gone through the court proceedings and are bank owned, but are still occupied by their previous owners. Why would the previous owners still live in them? Because they can, said Daren Blomquist, a vice president at the Irvine, Calif.-based RealtyTrac. Nationwide, 47 percent of bank-owned homes are occupied by their previous owners. Blomquist said vampire foreclosures will slow price appreciation as they start to go up for sale and tilt real estate more to a buyer’s market.
The Associated Press and The Palm Beach (Fla.) Post contributed.