NATIONAL

Laid-off workers filing more claims for unemployment

The number of newly laid-off workers filing claims for unemployment benefits shot up by the largest amount since early February, a far bigger increase than had been expected.

The Labor Department reported Thursday that applications for jobless benefits hit 337,000 last week, an increase of 28,000 from the previous week.

That was the biggest one- week surge since jobless claims jumped 42,000 the week of Feb. 10.

The increase was four times larger than the gain of 6,000 that economists had been expecting and could be a sign that the labor market is starting to weaken under the impact of a severe downturn in housing and the credit crisis that jolted financial markets in August.

MORTGAGE RATES FLAT Rates on 30-year mortgages were unchanged this week while rates on other types of mortgages also showed little movement.

Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.40 percent this week, the same as last week.

The nationwide average for 30-year mortgages had dipped in mid-September to 6.31 percent the lowest level since mid-May, but have generally been trending higher since then.

JOB CUTS After months of poring over its medical-device portfolio in search of cost cuts, Boston Scientific Corp. announced plans to cut 2,300 jobs, about 8 percent of its work force.

The cuts, announced late Wednesday as part of a larger restructuring, left analysts divided over whether financial health can be restored at Boston Scientific after a $27 billion acquisition sharply increased debt.

INDIA CONTRACT India's Tata Consultancy Services Ltd. said Thursday that it received a $1.2 billion contract from American market research firm Nielsen - the biggest outsourcing order ever won by an Indian company.

Under the 10-year contract, Tata Consultancy will offer a host of services to Nielsen Co., from management of its information technology infrastructure to back-office work such payroll processing and tracking human resources. TCS, India's top outsourcing company, also will provide consulting services and set up a lab to develop business solutions for New York-based Nielsen.

LOCAL

Colo. mountain casinos raking it in

Colorado's mountain casinos reported proceeds of almost $73 million in September.

That is a gain of 4.6 percent over their take during the same month a year ago.

Black Hawk generated $51.4 million in September proceeds, which represents the total amount wagered by gamblers, minus payouts to winners.

Black Hawk's proceeds last month were 5.6 percent higher than in 2006.

In Central City, revenues increased 3.6 percent to $7.3 million.

Cripple Creek's take rose 1.7 percent to about $14.3 million.

JANUS SHAREHOLDER Janus Capital Group Inc. shareholder Blum Capital Partners LP reduced its stake in the mutual- fund company to 6.4 percent, according to a filing Thursday with the U.S. Securities and Exchange Commission.

Blum previously held 8.1 percent of Janus, making it the fourth-biggest shareholder in the Denver-based fund company.

ECONOMY

Slow growth likely despite housing woes

A gauge of future economic activity edged higher in September, suggesting the economy may trudge forward at a modest pace despite a worsening housing slump.

The Conference Board said Thursday its index of leading economic indicators rose 0.3 percent in September to 137.9, slightly below analysts' consensus forecast for a 0.4 percent rise. The modest growth follows a sharp 0.8 percent drop in August. The index has been erratic this year - rising one month and falling the next - but overall, growth has been flat.

"You have an economy sputtering, in which some parts are trying to regain momentum, while other parts like the housing market are losing steam," said Ken Goldstein, labor economist at the Conference Board. The index is designed to predict economic activity in the coming three months.

Seven of the 10 data points tracked by the Conference Board increased last month, the strongest of which were vendor performance, the job market and stock prices.

THIS JUST IN

• The Arvada Economic Development Association honored two people and 10 businesses for community involvement, capital investment, employment and overall commitment to the community. Tom Hill, president of Hill Petroleum, received the Lloyd J. King Entrepreneurial Spirit Award, and Tim Heaton of Idalex received the 2007 Community Spirit Award. Outstanding Arvada Business Awards for 2007 were presented to Ace Hardware; Alamos Verdes Restaurante; BEC POS; Complete Business Systems of Colorado; D Note; Eli Ashby Healing Arts Center; Sopheon Corp.; Sundyne Corp.; Utecht Diversified Event Resources Inc.; and Wadsworth Control Systems Inc.

• The Robert E. Loup Jewish Community Center will honor board member and past President Warren Cohen, a business leader and founder and president of Cohen Capital Corp., at its 2007 JCC annual dinner Nov. 15.

• Denver-based Navitas Cancer Rehabilitation Centers of America Inc., a provider of integrated and comprehensive cancer rehabilitation services, appointed Dean H. Gesme Jr. as corporate medical director.

• The American Humane Association presented Steve Dale, a certified dog and cat behavior consultant, its 2007 Media Award for his significant contributions to increasing public awareness of animal welfare issues.

• Volunteers of America Colorado Branch added Larry R. Martinez, attorney with Berenbaum, Weinshienk & Eason P.C.; Marjorie M. Mauldin, president and owner of Executive Forum Inc.; and Daniel Michael Scherer, general manager for CBS Outdoor, as board members.

• Faegre & Benson LLP added Frances Phillips Taft as a special counsel to the Denver office.

• First Community Bank added Dave Manley as market president for the Boulder and Louisville areas.

• Finished Basement Co., which has an office in Denver, was recognized by two national remodeling publications for excellence in basement design.

• Amélie Co., a Denver- based advertising, public relations and marketing agency, added Killian Grant as interactive graphic designer, Erika Cruse as account coordinator and Kevin Maresca as media relations coordinator.

• Ray Lucchesi of Silverton Consulting received a Top Speaker, SNIA Tutorials Award for his talk at the April 2007 Storage Networking World conference in San Diego.

• Teri Westerman, founder of Denver-based Physically Handicapped Actors and Musical Artists League, received the the Frank Nelson Award for working to acquire accessibility for people with disabilities in the city and county of Denver.

Rocky staff and wire reports

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