Business and Finance
THE UNEMPLOYMENT rate rose to 7.1% in December, a 5 1/2-year high, from 6.9% in November, while the number of jobs barely increased. The data, which Bush called disappointing, suggest the economy is neither getting much worse nor getting any better. Democratic leaders, meanwhile, plan to propose further extensions in joblessness benefits.</br></br>Greenspan indicated the Fed intends to hold interest rates steady for a while unless the economy worsens. Last month's rate cut will probably be enough to boost the economy, he said, warning against big fiscal steps.</br></br>---</br></br>R.H. Macy told suppliers it is delaying paying them for two weeks, amid the retailer's worst cash squeeze since its 1986 buy-out. Macy's junk bonds sank as much as 20%. But Macy said it can avoid Chapter 11.</br></br>Allied Stores and Federated Department Stores won a judge's oral approval of a plan for the Campeau units to emerge from Chapter 11 as a single, publicly traded retailer.