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Financing rules complicate search for dream condo (Jun-25, 23:00 EDT )-- If you've been looking to buy a condo in the Washington area, you know there are deals to be had. But look carefully before you leap, say real estate agents and some buyers. A multitude of rules could block your way. Financial services -...
Leaders play down austerity split on eve of G20 (Reuters) (Jun-25, 21:50 EDT )-- Reuters - The world's richest economies, saddled with huge debts after spending their way out of the credit crisis, papered over differences on Friday on how to clean up their finances with minimal damage to growth.
Stocks eye jobs as economic worries linger (Reuters) (Jun-25, 20:26 EDT )-- Reuters - Stock investors will anxiously await the crucial June jobs data next week for clues on how the U.S. economy may weather recent storms that drove Wall Street's major indexes down for the year.
Factbox: Developments in G8, G20 summits in Canada (Reuters) (Jun-25, 19:12 EDT )-- Reuters - Here are some developments as leaders of the Group of Eight advanced economies and Group of 20 advanced and emerging economies meet in Canada.
Democrats mulling stand-alone jobless aid (AP) (Jun-25, 18:42 EDT )-- AP - The demise of Democrats' jobs-agenda legislation means that unemployment benefits will phase out for more than 200,000 people a week. Governors who had counted on fresh federal aid will now have to consider more budget cuts, tax increases and...
Dollar slips as investors shrug off US report (AP) (Jun-25, 16:35 EDT )-- AP - The dollar slipped Friday as traders shrugged off a downward revision in U.S. economic growth in the first quarter.
US lawmakers agree financial reform, but impact is debated (AFP) (Jun-25, 16:27 EDT )-- AFP - US lawmakers agreed a sweeping financial reform bill Friday, ending marathon negotiations, but whether the legislation goes far enough to prevent another economic crisis is still up for debate.
G8 leaders seek common ground on debt crisis (AFP) (Jun-25, 15:44 EDT )-- AFP - Europe and the United States tried Friday to bridge differences over how best to sustain a fragile global economic recovery and to find common ground on deficit reduction.
Economic growth trimmed on consumer and business spending (Reuters) (Jun-25, 15:36 EDT )-- Reuters - Economic growth was slower than previously reported in the first quarter on lower consumer spending on services, raising concerns the recovery would be too sluggish to bring down unemployment.
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Consumer protection agency one outcome of financial overhaul bill (Jun-25, 15:25 EDT )-- The massive financial overhaul approved by key lawmakers early Friday sets forth a number of new rules that affect consumers, giving individuals the right to free credit scores under certain circumstances and the ability to pay off adjustable-rate...
G-8 finalizes $10B aid venture amid criticisms (Jun-25, 15:11 EDT )-- TORONTO -- As the world's major industrialized nations gathered Friday for a round of summit meetings, Canada announced a multibillion-dollar effort to combat infant mortality and improve maternal health around the globe. United States - Barack...
Summary Box: Gov't lowers 1Q growth estimate (AP) (Jun-25, 15:03 EDT )-- AP - LOWER ESTIMATE: The government lowered its estimate of the economy's growth in the first quarter, as consumers spent less than previously thought. GDP rose by an annual rate of 2.7 percent, below an earlier estimate of 3 percent.
Summary Box: Gold prices rise on economic concerns (AP) (Jun-25, 14:51 EDT )-- AP - GOLD BUMP: Investors wary about the pace of the global economic recovery pushed gold prices higher Friday. Gold settled at $1,256.20 an ounce, just below the record settlement high of $1,258.30 an ounce, which occurred a week ago.
Gold prices march toward record territory again (AP) (Jun-25, 14:50 EDT )-- AP - Investors wary about the pace of the economic recovery pushed gold prices toward record territory again on Friday as world leaders gathered for a weekend summit to discuss global financial issues.
U.S. pushes regulation to G20 forefront (Reuters) (Jun-25, 14:46 EDT )-- Reuters - President Barack Obama urged world leaders to follow his lead on regulatory reform on Friday while other countries touted their swifter progress in tackling debt mountains that threaten the global recovery.
US first-quarter GDP growth revised down to 2.7 percent (AFP) (Jun-25, 14:20 EDT )-- AFP - US first-quarter economic growth was revised downward to 2.7 percent, official data showed Friday, on the eve of a G20 summit set to focus on protecting the fragile global economic recovery.
A look at global economic developments (AP) (Jun-25, 14:13 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Friday:
US: NKorean war damages claim 'preposterous' (AP) (Jun-25, 14:12 EDT )-- AP - The Obama administration ridiculed North Korea on Friday for claiming $65 trillion from the United States in Korean War damages, saying the communist nation is an economic "basket case" due its own failed policies.
How financial overhaul affects your everyday life (AP) (Jun-25, 13:50 EDT )-- AP - The financial overhaul is about more than exotic derivatives and complex risk assessments. It will change how you interact with the financial system every day, from swiping your debit card at the store to applying for a mortgage.
Labor chief blasts GOP on unemployment benefits (AP) (Jun-25, 13:13 EDT )-- AP - Labor Secretary Hilda Solis said Friday that Senate Republicans could be extending the recession by opposing a spending bill that would have extended unemployment benefits.
Economy faces tough road ahead with slower growth (AP) (Jun-25, 13:08 EDT )-- AP - The economic recovery won't be catching fire any time soon.
Recession, bear markets hit the rich, too (Reuters) (Jun-25, 12:00 EDT )-- Reuters - Turns out the rich may not be so different from you and me: They, too, are falling behind on their mortgages.
A long night hammering out financial overhaul deal (Jun-25, 11:22 EDT )-- As Thursday night wore on, any sense of time or space outside the Dirksen 106 conference room began to slip away. The heavy curtains were drawn, blocking a view of the long-deserted streets outside. Conference members pontificated on Fannie Mae and...
The ETF Wars Are Getting Silly (The Motley Fool) (Jun-25, 10:27 EDT )-- The Motley Fool - Brokers are fighting tooth and nail for your business. But some of the battles in the Great ETF War of 2010 have crossed the line from being beneficial for investors to overkill.
Obama arrives in Canada for G-20 amid warnings on global financial crisis (Jun-25, 10:04 EDT )-- TORONTO -- President Obama joined leaders of the world's major economies here Friday for summit meetings amid warnings that their failure to cooperate on core financial and economic issues could cost the world tens of millions of jobs. United...
G8 meets as US pushes Europe on economic growth (AFP) (Jun-25, 09:52 EDT )-- AFP - The United States was Friday to push Europe to focus on encouraging economic growth rather than slashing budgets as world leaders gathered for G8 and G20 summit talks.
Growth trimmed on business, consumer spending (Reuters) (Jun-25, 09:32 EDT )-- Reuters - Economic growth was slower than previously reported in the first quarter as estimates of business and consumer spending were cut.
US first-quarter GDP growth cut to 2.7 percent (AFP) (Jun-25, 09:22 EDT )-- AFP - The US economy grew at a weaker-than-expected 2.7 percent rate in the first quarter, a third and final revision from the US Commerce Department showed Friday.
Government lowers growth estimate for 1st quarter (AP) (Jun-25, 09:18 EDT )-- AP - The government lowered its estimate of how much the economy grew in the first quarter of the year, noting that consumers spent less than it previously thought.
Stymied by GOP, Democrats at loss on jobs agenda (AP) (Jun-25, 09:16 EDT )-- AP - The demise of Democrats' jobs-agenda legislation means that unemployment benefits will phase out for more than 200,000 people a week. Governors who had counted on fresh federal aid will now have to consider more budget cuts, tax increases and...
Obama boosted by US finance reform deal (AFP) (Jun-25, 09:04 EDT )-- AFP - US President Barack Obama on Friday said a sweeping financial reform bill agreed by lawmakers after marathon talks would hold Wall Street accountable and help prevent another economic meltdown.
Consumer sentiment highest since Jan 2008 (Reuters) (Jun-25, 08:56 EDT )-- Reuters - Consumer sentiment rose in June to its highest since January 2008 while reports of job losses were down sharply from a year ago, a survey showed on Friday.
Obama: G20 must act to pursue reform, spark growth (AFP) (Jun-25, 08:32 EDT )-- AFP - US President Barack Obama on Friday called on world leaders meeting at the G20 summit in Toronto this week to strive for financial reform, spur growth and bolster the global economy.
G20 nations see different paths for securing recovery (Reuters) (Jun-25, 08:21 EDT )-- Reuters - World leaders aimed for a common target on Thursday of securing the economic recovery, but disagreed over how best to reach it.
(AP) (Jun-25, 08:03 EDT )-- AP - Obama `gratified' by progress made by Congress on financial overhaul.
Instant View: GDP revised lower to 2.7 percent (Reuters) (Jun-25, 07:48 EDT )-- Reuters - Economic growth was slower than previously estimated in the first quarter as estimates of business and consumer spending were cut, according to government data on Friday.
Europe drags global takeovers to six-year slump (Reuters) (Jun-25, 06:52 EDT )-- Reuters - Global merger and acquisition activity in 2010 is off to its worst start in six years, and with economic uncertainty and a sovereign debt crisis in Europe, the second half could be just as disappointing.
AIG CEO and Chairman at odds over failed AIA deal: report (Reuters) (Jun-24, 23:22 EDT )-- Reuters - American International Group's failed sale of its Asian life insurance unit AIA has led to increased tensions between Chief Executive Robert Benmosche and Chairman Harvey Golub, the Financial Times said, citing people close to the situation.
Firms in gulf drilling are working to limit liability in spill (Jun-24, 23:00 EDT )-- As BP opens its checkbook to pay damages related to the Gulf of Mexico oil spill, it is beginning to do battle over a high-stakes question: Who else bears liability? Business - Oil spill - Environment - Gulf of Mexico - Energy
House-Senate panel works to move financial regulation bill to Obama (Jun-24, 23:00 EDT )-- Lawmakers pressed deep into the night Thursday, trying to solidify a series of political deals in an effort to get a bill that would overhaul the nation's financial regulation to President Obama by July 4. Democratic - United States - Politics -...
House passes Disclose Act campaign finance bill (Jun-24, 23:00 EDT )-- House Democratic leaders pushed a far-reaching campaign finance reform measure through their chamber Thursday, overcoming the objections of critics on the left and the right. Politics - Campaigns and Elections - Election Reform - Campaign...
Mortgage rates hit all-time low, but lending activity remains quiet (Jun-24, 23:00 EDT )-- Mortgage rates have hit an all-time low, but consumers are responding with a big "So what?" Mortgage - Business - United States - Financial Services - United States Treasury security
Pay raises at World Bank, IMF draw criticism (Jun-24, 23:00 EDT )-- Austerity may be the new reality for public employees in the developed world, whether it is pay cuts in Greece, layoffs in Germany or pension reform in Britain. Bank - International Monetary Fund - Economic - International - Bretton Woods...
Supreme Court decision casts doubt on former Enron CEO's conviction (Jun-24, 23:00 EDT )-- The Supreme Court on Thursday gutted one of federal prosecutors' favorite tools for pursuing corrupt politicians and self-dealing corporate chiefs, casting doubt on the convictions of two prominent executives snared by the law: former Enron chief...
Army finds problems with IT contracts, records system at Arlington Cemetery (Jun-24, 23:00 EDT )-- Arlington National Cemetery officials with limited expertise in federal contracting regulations and scant outside supervision improperly paid millions of dollars to companies that failed to create a digital database of the cemetery's records. ...
Supreme Court decision casts doubt on former Enron CEO's conviction (Jun-24, 23:00 EDT )-- The Supreme Court on Thursday gutted one of federal prosecutors' favorite tools for pursuing corrupt politicians and self-dealing corporate chiefs, casting doubt on the convictions of two prominent executives snared by the law: former Enron chief...
Twitter settles with FTC over hacking breach (Jun-24, 23:00 EDT )-- Twitter has settled charges brought by the Federal Trade Commission that it deceived consumers by allowing hackers to obtain administrative control over the popular social-networking service because of loose security. Twitter - Social network -...
Defense attorneys laud Supreme Court ruling that casts doubt on CEO convictions (Jun-24, 23:00 EDT )-- White-collar defense lawyer Robert S. Bennett said he will be raising his wine glass to the Supreme Court after it issued a decision weakening one of the tools in the arsenal of federal prosecutors but cautioned that the ruling is not cause for a...
Volkswagen executive Jacoby said to be joining Volvo (Jun-24, 23:00 EDT )-- Stefan Jacoby, president and chief executive of Herndon-based Volkswagen Group of America, has been replaced as his contract talks with the company continue -- and after a report that he has been hired to run Volvo. Volkswagen - Volvo - Autos -...
China Mofcom plays down yuan impact on exports (Reuters) (Jun-24, 22:47 EDT )-- Reuters - Chinese exporters on balance will benefit more than they will suffer from the reintroduction of greater flexibility in the yuan, Vice Commerce Minister Jiang Yaoping said on Friday.
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