Business News

US Judge Slaps $1.3B Fine On Bank Of America

Updated: 6:26 PM - 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: 2:22 PM - 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: 10:32 AM - 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.

US Economy Grew Four Percent in Spring

Posted: 5:39 AM - After a dismal winter, the U.S. economy sprang back to life in the April-June quarter, growing at a fast 4 percent annual rate on the strength of higher consumer and business spending.

Chevron Overhaul Heads For Vote

Posted: 07/29/2014 - Chevron's five-year quest for approval of a $1 billion overhaul of its aging refinery in the San Francisco Bay Area city of Richmond is facing a decisive vote by city officials.

JPMorgan Paying $650K To Settle CFTC Charges

Posted: 07/29/2014 - JPMorgan Chase will pay $650,000 to settle charges from federal regulators of filing inaccurate reports on the trading positions of some of its large customers.

Aetna 2Q Profit Rises 2.4 Percent

Posted: 07/29/2014 - Aetna's second-quarter profit climbed more than 2 percent, as gains from an acquisition helped the health insurer top expectations and raise its 2014 earnings forecast again.

More Business News

Economic News

  • Growth Rebound Stokes Fed Debate
    Federal Reserve officials delivered a modestly more upbeat assessment of the economy Wednesday 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.
  • 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.
  • Home-Price Growth Slows
    Home prices across the U.S. slowed sharply to a single-digit pace in May on a year-over-year basis, the slowest rate since February 2013, according to a home-price report.
  • Consumer Confidence Rises in U.S.
    Consumers turned more upbeat about the economy this month, according to a consumer confidence report. Better sentiment about job availability supports expectations for a good increase in July payrolls.
  • U.S. Pending Home Sales Slip
    The number of contracts signed to buy previously-owned homes slipped in June, a sign the housing recovery remains choppy despite a retreat in interest rates.
  • Federal Reserve's Rate Debate Looks Set to Heat Up
    Federal Reserve officials will likely move closer to ending their purchases of mortgage and Treasury bonds at a policy meeting next week and discuss when and how to raise interest rates.
  • U.S. Durable Orders Rebound in June
    Orders for big-ticket manufactured goods rebounded in June, a sign that capital investment by businesses could boost U.S. economic growth heading into the second half of the year. But shipments of core capital goods fell, prompting some economists to trim their forecasts of second-quarter growth.
  • New-Home Slowdown Pressures Recovery
    Demand for new homes slowed sharply during the first half, a development that threatens to reverberate beyond the housing market and throughout the broader economy.

US Business News

  • Samsung's Mobile Chief Faces Pressure
    The head of Samsung's mobile division, J.K. Shin, is facing pressure as weakening phone sales propel the company toward a third straight quarter of operating-profit declines.
  • Blame It on the World Cup
    Companies selling TVs, sports drinks and snacks scored, but the makers of washing machines lost out.
  • Coke: Contents Under Pressure
    Coca-Cola Co. can no longer lean on its foreign markets for reliable growth, which means it must turn around its U.S. business. That won't be easy, as Americans are drinking less soda.
  • U.S. Oil Exports Ready to Sail
    A tanker of oil from Texas is preparing to sail for South Korea this week, the first unrestricted sale of unrefined American oil since the 1970s.
  • Boeing to Build New 787 Dreamliner in S. Carolina
    Boeing plans to build a new version of its flagship 787 Dreamliner jet exclusively at its nonunion factory in South Carolina.
  • GM to Start Taking Crash Claims
    General Motors on Friday starts taking applications from victims of accidents involving defective ignition switches in its small cars, promising the first payouts from the about $400 million fund by November.
  • Scripps, Journal Communications to Divvy Up Assets
    E.W. Scripps and Journal Communications struck a deal to put their newspaper operations into one company and their broadcast assets into another, following in the footsteps of rivals.
  • German Companies Shrug Off Sanctions Impact
    A weakening ruble through the first half of the year has already seen exports fall, something companies have already factored into their expectations.
  • Global Firms See Risks in Russia
    U.S. and European companies are girding for the possible impact of tougher international sanctions against Moscow, with auto makers and energy giants moving to limit the Russia risks to their businesses.
  • AMC Networks in Talks to Buy BBC America Stake
    AMC Networks Inc. is in talks to acquire a sizable minority stake in cable channel BBC America, creating a partnership between two TV companies known for high-quality shows.
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