Business News

Private Sector Adds Jobs

Payroll giant ADP says the private sector added 185,000 jobs in July.  That is slightly below expectations. The report was led by job weakness in mining and oil drilling. The big government jobs report will be unveiled on Friday morning. (Fox News)

Northwest exercise equipment-maker Nautilus reported quarterly sales of $59.7 million, a 23% jump from the same time last.  The company posted a profit of $2.2 million. Direct to customer sales climbed 29% and retail sales climbed 16%. (Portland Business Journal)

The SEC is scheduled to vote today to formally adopt a rule to compel public companies to disclose the ratio between the annual compensation of their CEOs and the median pay of their employees. The vote is likely to split the five-member SEC along partisan lines. (AP)

General Electric is announcing today, a push into cloud-based services, connecting sensors on machines to distant computing centers to track performance and maintenance. (NY Times)

Mortgage volume finally made a move, jackhammered out of three stagnant weeks by a drop in interest rates. Total applications increased 4.7%, with refi loans surging 6%, according to the Mortgage Bankers Association. (CNBC)

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