Business News

Tesla Confirms Reno is Gigafactory Finalist

Updated: 4:16 PM - American electric car maker Tesla Motors Inc. is teaming up with Japanese electronics company Panasonic Corp. to build a battery manufacturing plant in the U.S. expected to create 6,500 jobs.
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San Francisco Sells Record Million-Dollar Homes

Posted: 10:19 AM - A research firm says a record number of million-dollar homes were sold in the San Francisco Bay Area during the second quarter, another sign that affording a place to live is a growing challenge for anyone who isn't tied to the technology economy.

US Judge Slaps $1.3B Fine On Bank Of America

Updated: 07/30/2014 - A federal judge imposed a $1.3 billion civil penalty against Bank of America on Wednesday for its role in selling risky mortgages to Fannie Mae and Freddie Mac that were advertised as safe investments.

Us Judge Slaps $1.3B Fine on Bank of America

Posted: 07/30/2014 - A federal judge imposed a $1.3 billion civil penalty against Bank of America on Wednesday for its role in selling risky mortgages to Fannie Mae and Freddie Mac that were advertised as safe investments.

Probe Exposes Flaws Behind HealthCare.gov Rollout

Posted: 07/30/2014 - Officials tell The Associated Press that a nonpartisan investigative report concludes that management failures by the Obama administration set the stage for the computer problems that paralyzed the HealthCare.gov website last fall.

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Economic News

  • U.S. Jobless Claims Rise
    The number of U.S. workers claiming unemployment aid rose last week after sinking to a 14-year low earlier in the month.
  • Growth Rebound Stokes Fed Debate
    Federal Reserve officials delivered a modestly more upbeat assessment of the economy amid a second-quarter growth rebound and deepening debate inside the central bank about when to start raising interest rates.
  • Fed Boosts View of Economy
    The Federal Reserve said it would scale back its bond purchases to $25 billion monthly and delivered a modestly more upbeat assessment of inflation, jobs and the economy, hours after a stronger-than-expected U.S. growth report.
  • U.S. Wages and Benefits Rise
    U.S. employers' labor costs rose in the second quarter at the fastest rate in nearly six years, a sign that a tightening labor market may be raising pressure on companies to boost worker pay.
  • Families Borrowing Less to Pay for College
    American families are relying more on their income and savings and less on loans to pay for college, a study found.
  • Homeowner Program Faces Mounting Backlog
    The Obama administration's signature program to aid struggling homeowners has hit another speed bump: The mortgage companies processing applications can't keep up with demand.
  • Private Sector Reins in Pace of Hiring
    U.S. businesses slowed their pace of hiring in July, according to an employment survey. The number of private-sector jobs created this month was fewer than economists expected.

US Business News

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