Business News

Us Judge Slaps $1.3B Fine on Bank of America

10 mins ago - 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.

Ford Raising Prices On New F-150

Updated: 07/28/2014 - Ford is raising the price of its new aluminum-sided pickup truck, but still trying to stay competitive with rivals.

Judge OKs Record-Setting $2B Sale Of Clippers

Updated: 07/28/2014 - A judge has ruled against Los Angeles Clippers owner Donald Sterling and cleared the way for the $2 billion sale of the team to ex-Microsoft CEO Steve Ballmer.

More Business News

Economic News

  • GDP Rebound Stirs Hopes On Economy
    The U.S. economy surged 4% in the second quarter, more than offsetting a first-quarter contraction and putting growth back on an upward trajectory in 2014.
  • 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

  • In Prepaid Cards, Fortune Eludes the Famous
    Suze Orman, Magic Johnson and Lil Wayne are among the celebrities who have shuttered or scaled back prepaid-card ventures, as they struggle to compete with plain-vanilla cards issued by big banks.
  • In Video Age, Film Gets a Reprieve
    Faced with the possible extinction of the material that made Hollywood famous, a coalition of studios is close to a deal to keep Eastman Kodak in the business of producing movie film.
  • Samsung's Mobile Chief Feels Pressure Over Sales
    The head of Samsung's mobile division, J.K. Shin, is facing pressure as weakening phone sales propel the company toward an expected third straight quarter of operating-profit declines when it reports results Thursday.
  • 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.
  • Alibaba Discusses Snapchat Stake
    Snapchat is in discussions to raise a new round of financing from Alibaba in a deal that could value the mobile-messaging app at about $10 billion.
  • 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.
  • Waiting Game: Sprint, T-Mobile
    The slow progress in Sprint's pursuit of T-Mobile is in part tied to the public nature of the deal. With all the details out, there isn't as much pressure to make an announcement.
  • Telefónica Circles Mexican Rival
    Telefónica said it is in talks to buy a Mexican rival, reported to be Iusacell, in a deal that could be worth as much as $4 billion.
  • 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.
  • Mixed Fortunes for European Car Makers
    European car makers painted a murky portrait of the global auto industry as concerns about Russia and Latin America blunt the optimism fueled by a steady rebound in European auto demand.
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