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U.S. consumer spending stalls in May
Washington, D.C. -- A report released Monday by the Commerce Department showed that consumer spending unexpectedly stalled during the month of May, as prices climbed and 9.1% unemployment caused shoppers to cut back.
Commerce Department figures showed that purchases were flat in May, after a median estimate of economists surveyed by Bloomberg News called for a 0.1% gain. Prices excluding food and energy rose more than forecast.
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DVD provider and coin counter gains new exec
Coinstar Inc., operator of 31,800 Redbox DVD rental kiosks and 18,800 coin-counting machines has a new chief customer officer. The position will be filled by Maria Stipp who joins Coinstar with more than 20 years experience in the video game and consumer packaged goods industries.