Posts Tagged ‘On4 Communications Inc’

Stocks are lower as September job losses rise more than expected

The Labor Department says employers cut 263,000 jobs last month, up from 201,000 in August. That is far above the 180,000 job losses economists had been expecting. The unemployment rate has risen as expected to 9.8 percent.

Unemployment has been one of the market’s biggest concerns throughout the recession because it has a big impact on consumer spending.

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Oct. 1, 2009 (PR Newswire) — SCOTTSDALE, AZ, Oct. 1 /PRNewswire-FirstCall/ – On4 Communications Inc. (ONCI) is pleased to announce that it has entered into negotiations for the acquisition of www.pets911.com. Pets911.com is an industry leading website focused on the retrieval of lost pets, pet adoption and all aspects of pet welfare. Adding Pets911.com to On4′s current lineup of pet location and rescue products will be a significant addition and help position On4 as a leader in the industry.

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On4 Communications specializes in the integration of proprietary and non-proprietary hardware and wireless carrier platforms with non-competing vertical partners to access lucrative consumer-based niche markets.

Website: www.on4communications.com

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Stocks are lower after mixed economic reports

The Labor Department said new claims for jobless benefits rose more than expected to 551,000, evidence that the labor market is struggling and jobs remain scarce. Economists polled by Thomson Reuters had predicted claims to rise to 535,000.

The increase comes after three weeks of declines, and just before the Labor Department’s September unemployment report. Economists forecast that report will show the unemployment rate rose to 9.8 percent from 9.7 percent in August. Most economists expect the rate to top 10 percent by early next year.

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