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Featured Advertiser (Jul-7, 23:00 EDT )
Federal Reserve weighs steps to offset slowdown in economic recovery (Jul-7, 23:00 EDT )-- Federal Reserve officials, increasingly concerned over signs the economic recovery is faltering, are considering new steps to bolster growth. Federal Reserve System - Central bank - Economic - Government - Social Sciences
Fannie Mae, Freddie Mac move to over-the-counter trading (Jul-7, 23:00 EDT )-- Shares of Fannie Mae and Freddie Mac will begin trading over the counter Thursday, nearly a month after the mortgage-finance giants said they could no longer meet the New York Stock Exchange's listing requirements. Freddie Mac - Fannie Mae -...
Defense finance workers haunted by financial histories (Jul-7, 23:00 EDT )-- If you're a government employee who is repeatedly in financial trouble, you may also be in deep trouble with Uncle Sam. Holidays - Halloween - Haunted Attractions - United States - Commercial Attractions
Dow's two-day rally, the first since June, lifts stocks including BP (Jul-7, 23:00 EDT )-- U.S. stocks completed their first back-to-back winning days since mid-June on Wednesday, as the Dow Jones industrial average recorded a 275-point surge and cracked back through the 10,000 level. BP - Business - United States - Products and...
Some customers heated over indoor 'tan tax,' which was part of health-care law (Jul-7, 23:00 EDT )-- The sun hasn't exactly set on Solar Planet, but anxiety over the fate of the Arlington tanning salon has been running high ever since a "tan tax" took effect last Thursday. Tanning - Business - United States - Skin Care - Tanning bed
N.Y. challenger Saujani embraces Wall Street in bid to unseat Rep. Maloney (Jul-7, 23:00 EDT )-- NEW YORK -- It's cocktail hour on the Upper East Side of Manhattan, and dozens of rich New Yorkers are gathered around a grand piano, sipping white wine in the living room of an elegant high-rise apartment. There is plenty of gossip to be heard, but...
Somes states say they're not receiving the Medicare services they're paying for (Jul-7, 23:00 EDT )-- MILWAUKEE -- The day after the House passed the landmark health-care bill in March, St. Louis-based insurer Centene saw its stock jump 11 percent. That was perhaps the first signal that the major changes ahead would be a boon to one subset of the...
The Influence Industry: Groups say time is now for public financing push (Jul-7, 23:00 EDT )-- Two interest groups plan to spend as much as $15 million this year on a nationwide campaign in favor of new public-financing legislation aimed at limiting the influence of wealthy donors and large corporations in congressional races. Business -...
SEC proposes new rules to make target-date mutual funds more transparent (Jul-7, 23:00 EDT )-- Target-date mutual funds -- investment vehicles that automatically change your mix of assets as you near retirement -- are thought by many investors to be a safer investment choice that's relatively insulated from market gyrations as the funds get...
Amid tight budget, queen is pinching pennies along with rest of Britain (Jul-7, 23:00 EDT )-- LONDON -- With historic budget cuts about to change the way the British live -- slashing children's benefits, freezing public salaries and trimming welfare rolls -- one must do one's part: Even the queen is cutting back. Monarchy - History -...
BP's Hayward seeks help in Abu Dhabi (Jul-7, 23:00 EDT )-- BP's chief executive Tony Hayward met with Abu Dhabi's crown prince Wednesday while BP's investment bankers worked to raise money without shedding any of the company's crown jewels. Abu Dhabi - Middle East - United Arab Emirates - BP - Tony Hayward
Japan machinery orders drop 9.1 percent in May (AP) (Jul-7, 21:25 EDT )-- AP - Japan's machinery orders, a closely watched indicator of future business investment, dropped more than expected in May, signaling that a recovery in the world's No. 2 economy is faltering.
New retail data: Luxury shoppers pull back in June (AP) (Jul-7, 19:25 EDT )-- AP - Affluent Americans went back to tightening their belts in June after months of showing other shoppers how to spend, raising concerns for the overall economy.
Fannie, Freddie find new home over the counter (AP) (Jul-7, 17:00 EDT )-- AP - Shares of Fannie Mae and Freddie Mac will begin trading over-the-counter Thursday, nearly a month after the government-sponsored mortgage buyers said they could no longer meet the requirements of companies listed on the New York Stock Exchange.
Economic peril seen from offshore drilling ban (Reuters) (Jul-7, 15:46 EDT )-- Reuters - A Gulf of Mexico deepwater drilling ban has already cost offshore jobs in a nascent U.S. economic recovery and a lengthy moratorium will put the industry at peril, sector executives said on Wednesday.
Wells Fargo cutting 3,800 workers in restructuring (AP) (Jul-7, 15:37 EDT )-- AP - Wells Fargo says it's laying off 3,800 employees over the next year as part of a restructuring of its consumer finance unit.
Wells Fargo ends non-prime mortgage biz (Reuters) (Jul-7, 15:23 EDT )-- Reuters - Wells Fargo & Co , the fourth-largest U.S. bank by assets, said on Wednesday it is closing more than 600 Wells Fargo Financial offices and will no longer originate non-prime mortgages.
Fed to hold forum to boost small-business lending (AP) (Jul-7, 15:14 EDT )-- AP - The Federal Reserve said Wednesday it will hold a forum next week to explore ways to improve the flow of lending to small businesses.
Other loopholes in consumer financial protection (AP) (Jul-7, 15:09 EDT )-- AP - Auto dealers and community banks are central to consumer finance. Millions of Americans will be affected because they escaped oversight by the new Consumer Financial Protection Bureau.
US Senate hopeful in SC wants an action figure (AP) (Jul-7, 15:04 EDT )-- AP - U.S. Senate hopeful Alvin Greene believes selling action figures of himself could put more South Carolinians back to work in a state with one of the nation's highest unemployment rates.
Health-care law may pose challenges for IRS, taxpayers (Jul-7, 14:46 EDT )-- The new federal health-care law may pose compliance challenges for taxpayers and the Internal Revenue Service, an IRS ombudsman reported Wednesday. Health care - United States - Health - Politics - Health Care Reform
A look at global economic developments (AP) (Jul-7, 14:40 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Wednesday:
Better Buy: Gold or Gold Miners? (The Motley Fool) (Jul-7, 14:36 EDT )-- The Motley Fool - With the market in disarray and a second-half economic slowdown at hand, investors of various stripes may be considering initiating, or substantially adding to, a gold position. The key question, however, is how to most profitably,...
Health-care bill likely to increase Medicaid outsourcing; some doubt treatment quality (Jul-7, 13:57 EDT )-- MILWAUKEE -- The day after the House passed the landmark health-care bill in March, St. Louis-based insurer Centene saw its stock jump 11 percent. That was perhaps the first signal that the massive changes ahead would be a boon to one subset of the...
Featured Advertiser (Jul-7, 12:37 EDT )
With recovery struggling, White House touts growth in exports (Jul-7, 12:37 EDT )-- With the economic recovery struggling, and Congress rebuffing his stimulus proposals, President Obama could use a pick-me-up when it comes to the jobs picture. So on Wednesday the White House reached deep into its grab-bag of presidential promises for...
Oil prices rally as equities bounce (AFP) (Jul-7, 10:31 EDT )-- AFP - World oil prices rallied on Wednesday as traders tracked rising equity markets ahead of a key US inventories report.
Fisher: Fed has "done enough" asset-buying: report (Reuters) (Jul-7, 10:17 EDT )-- Reuters - The U.S. economic recovery is slowing, but the Federal Reserve does not need to do more to help it along, Dallas Fed President Richard Fisher said on Wednesday.
How to Lower Your Credit Card Interest Rate (U.S. News & World Report) (Jul-7, 10:15 EDT )-- U.S. News & World Report - The average American family with credit card debt has around $7,000 of it. That figure comes from the Federal Reserve's 2007 Survey of Consumer Finances, back when the economy was going fairly strong, and unemployment had yet...
Summary Box: Mortgage applications rise 7 pct. (AP) (Jul-7, 09:38 EDT )-- AP - MORTGAGE APPLICATIONS RISE: Applications for home loans rose nearly 7 percent last week from a week earlier as consumers raced to refinance at the lowest rates in decades.
EU: Greece broadly on track with budget cuts (AP) (Jul-7, 09:29 EDT )-- AP - The European Union's executive says Greece is "broadly on track" with budget cuts and economic reforms linked to euro110 billion ($138 billion) in bailout loans from EU nations and the International Monetary Fund.
Family Dollar shares fall as forecast disappoints (Reuters) (Jul-7, 09:25 EDT )-- Reuters - Family Dollar Stores Inc forecast a quarterly profit below analysts' estimates, sending its shares down nearly 8 percent, as it faced an uncertain economy and increased discounting by rival Wal-Mart Stores Inc .
Mortgage applications rise 7 pct. as rates fall (AP) (Jul-7, 09:03 EDT )-- AP - Applications for home loans rose last week as consumers raced to refinance at the lowest rates in decades.
Oil prices rise in volatile trade (AFP) (Jul-7, 07:57 EDT )-- AFP - World oil prices firmed on Wednesday as traders tracked the strengthening dollar and assessed the global energy demand outlook on the eve of a crucial US crude inventories report.
China won't dump U.S. Treasuries or pile into gold (Reuters) (Jul-7, 07:06 EDT )-- Reuters - China on Wednesday ruled out the "nuclear" option of dumping its vast holdings of U.S. Treasury securities but called on Washington to be a responsible guardian of the dollar.
Asian markets cautious after negative US data (AFP) (Jul-7, 05:59 EDT )-- AFP - Asian stock markets were generally down on Wednesday with investors taking a cautious view of the global economic outlook after negative figures from the United States.
German industrial orders slip in May (AP) (Jul-7, 05:55 EDT )-- AP - Industrial orders in Germany slipped by 0.5 percent during May, though the overall trend remains strong with big gains in earlier months, government data showed Wednesday.
EU says Greece reforms broadly on track (Reuters) (Jul-7, 04:20 EDT )-- Reuters - Economic reforms intended to pull Greece out of recession and help it resolve a sovereign debt crisis are broadly on track, despite some slippage, the European Commission said.
Tanning salons feel burned by 10 percent 'tan tax' (Jul-7, 04:19 EDT )-- The sun hasn't exactly set on Solar Planet, but anxiety over the fate of the Arlington tanning salon has been running high ever since a "tan tax" took effect Thursday. Tanning - Business - United States - Skin Care - Tanning bed
Consumer loans continue to improve in Q1 (Reuters) (Jul-7, 03:08 EDT )-- Reuters - U.S. bank card delinquencies dipped in the first quarter of this year to the lowest level in eight years, reflecting measured improvement in the overall economy.
Samsung profit to slow on Europe after record Q2 (Reuters) (Jul-7, 02:43 EDT )-- Reuters - Samsung Electronics' (005930.KS) record quarterly profit failed to please investors as a weak European economy looks set to weaken demand for flat screens and chips, hurting profitability at the world's largest memory chipmaker.
Bigger role seen for emerging financial centers (Reuters) (Jul-7, 01:28 EDT )-- Reuters - London and New York are not about to lose their spots as the world's leading financial centers but they are being challenged by emerging market upstarts in a potentially lucrative area: the management of funds moving between developing...
Africa prospects lure investors, but is it ready? (Reuters) (Jul-7, 01:24 EDT )-- Reuters - Africa offers among the world's best investment prospects as emerging markets grow ever more important, although its economies risk being destabilized by the slew of capital they stand to attract in coming years.
CSC wins UBS deal worth $580 million (Jul-6, 23:00 EDT )-- Computer Sciences Corp. said Tuesday that it signed a contract worth up to $580 million over five years with Swiss bank UBS, to provide network, security and telecommunication services. United States - Television - Programs - Game Shows - Deal or...
Stock market rally runs out of steam (Jul-6, 23:00 EDT )-- Stocks burst out of the gate Tuesday morning in a somewhat surprising but welcome surge following last week's big sell-off, but the rally ran out of steam by midafternoon and only a late push prevented an eighth consecutive day of losses for investors....
FCC chairman's chief counsel to depart for Atlantic Media (Jul-6, 23:00 EDT )-- Bruce Gottlieb, chief counsel and senior adviser to the chairman of the Federal Communications Commission, is leaving the agency to become general counsel for the Atlantic Media, publisher of the Atlantic and National Journal. The move is the latest...
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