| |
|
|
|
|
|
|
|
|
|
Search by Keyword(s), Name, Location or Category.
|
|
|
|
|
|
|
|
|
|
|
|
| |
U.S. banks failed to follow mortgage standards: monitor
WASHINGTON (Reuters) - Four of the largest U.S. mortgage servicers failed to adhere to some of the new standards set out in a landmark settlement meant to help consumers facing foreclosure, a court-appointed monitor said on Wednesday. Bank of America, Citigroup, JPMorgan Chase and Wells Fargo need to make improvements in handling loan modifications, said Joseph Smith, who oversees the $25 billion settlement between banks and the U.S. government. One of the main complaints documented by Smith's report was that banks failed to ensure a single point of contact is provided for struggling borrowers. Smith on Wednesday issued his...
|
|
|
|
 Featured Money Stories |
|
|
|
Live Blog: Federal Reserve Chairman Bernank's for the economy
Federal Reserve Chairman Ben S. Bernanke outlines what he expects for U.S. growth in the coming year as the central bank releases its policy statement. He'll also face TV cameras and reporters during a quarterly news conference. Reporters, editors and other analysts will live blog what policymakers say -- and what they don't say. We'll also follow the stock market's gyrations and other reactions. The main question for today: Will Bernanke be able to reassure the world that the central bank has a plan for scaling back its...
|
|
|
|
UPDATE 1-New 'Obamacare' exchanges could miss enrollment deadline -GAO
* Bumpy launch could pose problems for Obama's legacy * Challenges also face exchanges for businesses -GAO * Republicans pounce; administration still confident By David Morgan and Caroline Humer June 19 (Reuters) - New health insurance exchanges being set up by the federal government in more than 30 states under President Barack Obama's 2010 healthcare overhaul could miss an Oct. 1 deadline for open enrollment, a government report said on Wednesday. The launch of the exchanges, or marketplaces, which are expected to provide federally subsidized health coverage for 7 million people in 2014 and 22 million by 2016, could determine whether Obama's signature domestic policy...
|
|
|
|
FINRA reviewing brokerages' use of social media
June 19 (Reuters) - Wall Street's Financial Industry Regulatory Authority is looking at how brokerage firms supervise their use of communication outlets such as Facebook, Twitter and LinkedIn, the industry-funded regulator said. FINRA, which conducts periodic "sweeps," or targeted checks on Wall Street brokerages, sent out letters to firms earlier this month requesting...
|
|
|
|
EMERGING MARKETS-BM&FBovespa weighs on Brazil stocks as Fed eyed
SAO PAULO, June 19 (Reuters) - Brazil's benchmark stock index fell on Wednesday as shares of local bourse BM&FBovespa dropped over 3 percent on fears of possible competition with NYSE Euronext, while other Latin American stock markets were little changed ahead of a key statement...
|
|
|
|
WRAPUP 1-IMF praises Spain, Ireland reforms but warns of risks
* IMF: Spain, Ireland reforms on track but challenges remain * Both countries need to complete cleanup of ailing banks * Job creation key for Spain, market access for Ireland * Europe could help by pressing ahead with banking union By Julien Toyer and Sam Cage MADRID/DUBLIN, June 19 (Reuters) - Spain and Ireland have made strong progress in fixing their economies but recovery will hinge on their capacity to clean up ailing lenders, create jobs and maintain investor confidence, the IMF said on Wednesday. Both countries were forced to seek international financial support after a decade-long boom fuelled by cheap credit ended abruptly in 2008, leaving their banks...
|
|
|
|
FOREX-Dollar falls vs key currencies before Fed announcement
* Market awaits signals on Fed's next policy move * Fed expected to keep options open on pace of bond buying * Dollar hits lowest since February against major currencies NEW YORK, June 19 (Reuters) - The dollar fell to a four-month low against major currencies on Wednesday, ahead of the Federal Reserve's announcement and news conference that could shed light on the direction of U.S. monetary policy in the near term. Speculation that the Fed might begin...
|
|
|
|
Property ladder: State housing solutions
In the mid-1930s - confronted by what I think is something similar to today's budget housing shortage - the new Labour government embarked on a major house-building initiative. They built fairly plain 100-120sqm houses in large numbers. Most were rented out....
|
|
|
|
U.S. judge limits ex-Goldman Sachs exec's defense in fraud case
NEW YORK (Reuters) - A federal judge on Wednesday limited the extent to which former Goldman Sachs Group Inc vice president Fabrice Tourre can argue that he was acting on the advice of company lawyers in his defense against charges that he misled investors. The ruling could be another setback for Tourre ahead of his trial on July 15, after the judge earlier this month rejected his argument that the U.S. Securities and Exchange Commission should narrow its case against him. The government...
|
|
|
|
General Motors leads J.D. Power initial quality survey
DETROIT, June 19 (Reuters) - General Motors Co. vehicles won eight awards in the annual J.D. Power & Associates survey of initial quality, a marked improvement since the largest American automaker turned itself around after a 2009 bankruptcy. GM cars and trucks won eight top prizes as the best vehicles in their segments of the...
|
|
|
|
Microsoft offers hefty bounties to thwart hackers
* New program to pay reward up to $150,000 * Google, Facebook offer similar programs * Underground market offers steep bounties By Jim Finkle BOSTON, June 19 (Reuters) - Microsoft Corp is looking to recruit computer geeks in its ongoing efforts to protect Windows PCs from attacks, offering rewards of as much as $150,000 to anybody who helps identify and fix major security holes in its software. Microsoft unveiled the rewards program, one of the most generous in the high-tech industry to date, on Wednesday as it sought ways to prevent sophisticated attackers from subverting new security technologies it has introduced in the latest...
|
|
|
|
GM makes big move up in J.D. Power quality survey
Story Highlights General Motors moves up in the closely watched quality surveyFord remains stuck near the bottomToyota's Lexus is third, but Scion is dead last Four years out of bankruptcy reorganization, General Motors has risen dramatically up the ranks of one of the auto industry's closest-watched measures of vehicle quality. One GM label, its GMC truck brand, jumped to No. 2 among all brands -- just behind Porsche -- for fewest new vehicle problems in the 2013 J.D. Power and Associates' Initial Quality Survey. Chevrolet rose to fifth in the annual quality ranking, and GM's other two brands, Cadillac and Buick, both beat the industry average. GM's Chevrolet brand also captured five of...
|
|
|
|
News Corp spinoffs start preliminary trading
(Reuters) - News Corp's publishing and entertainment arms began trading separately on a preliminary basis on Wednesday, one of the last steps before Rupert Murdoch's company officially splits in two on June 28. Shares of the new News Corp, the publishing arm that includes properties such as The Wall Street...
|
|
|
|
Study: Misuse of medication led to $213 billion in avoidable costs
A study found that if patients and doctors used medicines responsibly, the U.S. healthcare system could save $213 billion annually. Failing to adhere to prescription instructions, misuse of antibiotics and medication errors are some of the reasons for the avoidable costs, according to from IMS Institute for Healthcare Informatics. Together, these areas lead to unnecessary utilization of healthcare resources involving an estimated 10 million hospital admissions, 78 million outpatient treatments, 246 million prescriptions and four million emergency room visits annually. To put the figure in...
|
|
|
|
YOUR MONEY-For wine investors, it's hard work to drink in success
NEW YORK, June 19 (Reuters) - When investing in wine, as opposed to drinking it, experts advise leaving your taste buds at the cellar door but keeping your eyes wide-open. Wine is highly regulated, but the market it trades in is not, and the entry fee is not for the faint of heart. "For proper investment in wine you really need to separate out your personal taste and your personal preference from investment purposes. These are two entirely different goals," said Jennifer Simonetti-Bryan, author most recently of "The One Minute Wine Master" and "Pairing with the Masters: A Definitive Guide to Food & Wine." "Wine is completely emotional and that's what...
|
|
|
|
UPDATE 1-Fnac priced at 22 euros a share, below some forecasts
* Fnac shares priced at 22 euros, below some forecasts * Fnac shares expected to fall at opening on Thursday PARIS, June 19 (Reuters) - Fnac shares were priced at 22 euros a share, valuing the book and CD retailer at 365.1 million euros, market operator NYSE Euronext said on Wednesday, providing a...
|
|
|
|
YOUR MONEY-The end of room service? Not so fast
By Mitch Lipka June 19 (Reuters) - When the New York Hilton Midtown said it was dispensing with room service starting in August, it caught the attention of frequent travelers who, after getting in from a long flight, have come to count on being able to order a burger at 2 a.m. The news was particularly significant since room service itself was popularized about a half mile away in the 1930s at the Waldorf Astoria Hotel, which is now also part of the Hilton chain. Plenty of hotels, however, are going the opposite way - trying to...
|
|
|
|
Rolling Stones release back catalogue on iTunes
LONDON, June 19 (Reuters) - The Rolling Stones released a career-spanning digitally re-mastered back catalogue on Apple Inc's iTunes Store on Wednesday as part of their 50th anniversary celebrations. The new iTunes release chronicles the British group's entire oeuvre, from their introductory 1963 cover of Chuck Berry's "Come On" to last...
|
|
|
|
Unemployed? Underemployed? Recently hired? We'd like to talk
The state on Friday will release its monthly jobs report showing whether the unemployment rate rose or fell in May. The monthly data release will also show which sectors added or shed jobs last month. Ahead of Friday’s news, our team of economy reporters is soliciting anecdotes of your job search. We'd like to get your perspective on the state of the labor market, and we’re looking for all types of Californians, including: -- Those recently laid off from jobs. -- Those who have recently found jobs in...
|
|
|
|
EU Parliament in push to limit U.S. data access
* Leading lawmakers want judge to oversee data transfers * A national supervisor should also have a say * Majority of Yahoo! and Google users based outside U.S. By Claire Davenport BRUSSELS, June 19 (Reuters) - European Union lawmakers want to forbid the United States from accessing European citizens' data without the approval of a judge or equivalent authority, a response to the revelations about the Prism spy programme. Lawmakers from the European People's Party (EPP), the biggest group in the European Parliament, on Wednesday backed a proposal that would...
|
|
|
|
TREASURIES-Bond prices fall before Fed announcement
* Fed meeting in focus for signs of reduced bond purchases * Bond volatility picks up before Fed announcement * Low inflation, exit risks seen complicating Fed decision * Trader says Fed may cut purchases as Treasury cuts supply By Karen Brettell NEW YORK, June 19 (Reuters) - U.S. Treasuries prices fell on Wednesday as investors awaited the Federal Reserve's announcement at the end of its two-day policy meeting later on Wednesday for signals over when it may begin to pare back its bond purchase program. Anxious investors have awaited further signs from the Fed since Chairman Ben Bernanke on May 22 said the Fed may decide to pare its...
|
|
|
|
Senate immigration bill could slash federal deficit, report says
A Senate bill meant to offer a pathway to citizenship for the estimated 11 million people in the U.S. who entered illegally or stayed on expired visas could trim the deficit by about $175 billion over the next 10 years, according to a federal report. The from the Congressional Budget Office and Joint Committee on Taxation also found federal budget deficits would decrease by about $700 billion from 2024 to 2033. “However, the net impact of the bill on federal deficits would depend on future actions by lawmakers, who could choose to appropriate more or less than the amounts estimated by CBO,”...
|
|
|
|
AIRSHOW-Europe braces for competition from low-cost US satellite launcher
* California-based SpaceX winning back launch business * Europe's Arianespace aiming to cut launch costs * New low-cost Ariane rocket under development By Irene Klotz PARIS, June 19 (Reuters) - Space Exploration Technologies is not among the 2,200 companies exhibiting at the Paris Airshow, but its cut-rate Falcon rocket, which has already shaken up the U.S. satellite launch industry, is raising eyebrows in Europe. The privately owned, California-based firm, known as SpaceX, is preparing for the first of about 30 satellite...
|
|
|
|
NFP lone issuer to tap US markets before Fed
NEW YORK, June 19 (IFR) - National Financial Partners Corp was the only issuer to brave the US funding markets Wednesday, testing the waters while other issuers stayed on the sidelines ahead of the highly anticipated Federal Reserve statement later in the day. NFP, a wealth management advisory firm, downsized its deal to USD300m from an initial USD337m, planning to use the junk-rated debt as part of a...
|
|
|
|
European shares close slightly lower ahead of Fed
PARIS, June 19 (Reuters) - European shares ended slightly lower on Wednesday in thin trading volumes, as investors eagerly awaited clues from the U.S. Federal Reserve about whether or not it will soon start to wind down its stimulus measures. The...
|
|
|
|
CANADA STOCKS-TSX slips as BlackBerry, Fed apprehension weigh
* TSX falls 23.31 points, or 0.19 percent, to 12,344.12 * Five of 10 main index sectors decline * BlackBerry slips 3.2 percent after downgrade By John Tilak TORONTO, June 19 (Reuters) - Canada's main stock index retreated on Wednesday morning on market foreboding about what the U.S. Federal Reserve might say about its easy-money policy in a statement to be issued later in the day. Financial...
|
|
|
|
Syrians turn to dollar as local currency tumbles
* Falling pound pushes up prices * Syrians turn to dollar savings to preserve their wealth * Dollarisation spreads as Syria pound loses purchasing power By Suleiman Al-Khalidi AMMAN, June 19 (Reuters) - Since the latest nosedive in the Syrian currency, Damascus shopkeeper Aboud Katebee can no longer put price stickers on the imported chocolate bars he sells in the middle class Jaramana neighbourhood. "Every time the dollar rises, I change the pricing of my goods," said the middle aged merchant, who says he stocks a range of imported and locally produced goods from powdered milk to detergents and vegetable oil. Talk of Western and Arab military support for rebels trying to topple President...
|
|
|
|
Tesla recalling some Model S cars
Story Highlights As many as 1,228 Tesla Model S sedans had rear seat latches that were too weakNo injuries or customer complaints have been reportedTesla's stock was up 1.6%...
|
|
|
|
No school insurance if teachers have guns
(TOPEKA CAPITOL-JOURNAL) Allowing teachers and other employees to carry guns under a new state law would cost most school districts their insurance. EMC Insurance Companies, the state’s main insurer of schools, won’t insure districts...
|
|
|
|
Men's Wearhouse ousts founder
NEW YORK (AP) — Men’s Wearhouse Inc. has dismissed its founder and executive chairmanGeorge Zimmer. In a terse release issued Wednesday, the company didn’t give a reason for the abrupt firing of Zimmer, who built Men’s Wearhouse from one...
|
|
|
|
AMA Says It's Time To Call Obesity A Disease
10:58 AM Obesity In America, By The Numbers: Click to see the full chart NPR While the American Medical Association may not have the clout it once did, it's still the largest single group of doctors making waves about health and the practice of medicine. So it's not nothing when the AMA's House of Delegates approves a measure to label obesity a disease. The group's deliberative democratic body passed a measure in Chicago Tuesday that broadly, if vaguely, says : "RESOLVED, That our American Medical Association recognize obesity as a disease state with multiple pathophysiological aspects requiring a range of interventions to advance obesity treatment and prevention." The AMA isn't vested with...
|
|
|
|
It's The Final ScuttleButton Puzzle ... For Now
11:03 AM Ken Rudin collection Some words I never thought I would utter: This is the last ScuttleButton puzzle that will ever appear on the NPR Web site. With the cancellation of Talk of the Nation, and of course the weekly Political Junkie segment that goes with it, the long relationship between Political Junkie and NPR is coming to an end. Thus, this is the last button puzzle, with the final winner (and t-shirt and button prizes) announced on Wednesday, June 26th — the final Junkie segment on TOTN. There will also be a final Junkie column, up next week. The good news: I'm making a serious effort to find new homes for these features, including the creation of a stand-alone Political Junkie...
|
|
|
|
Mortgage monitor: Banks not yet complying with major settlement
The nation's biggest banks haven't yet kept all the pledges they made 16 months ago to settle state and federal investigations into abuses of troubled homeowners and the foreclosure process, the national monitor for the settlement reported. The banks have said they are fulfilling their obligation to provide about $25 billion in aid to distressed borrowers. But monitor Joseph A. Smith, in a report Wednesday, said the banks have also reported failures to fully comply with their promised reforms in processing loan-modification requests, evictions and home seizures. The problems, he said, echo complaints from state officials and economic-justice groups across the country. Smith said the reformed...
|
|
|
|
TREASURIES-Long-dated bond prices rise before Fed announcement
* Fed meeting in focus on signs of reduced bond purchases * Bond volatility picks up before Fed meeting * Low inflation, exit risks seen complicating Fed decision * Trader says Fed may cut purchases as Treasury cuts supply By Karen Brettell NEW YORK, June 19 (Reuters) - Long-dated U.S. Treasuries prices rose on Wednesday as investors awaited the Federal Reserve's announcement at the end of its two-day policy meeting later on Wednesday for signals over when it may begin to pare back its bond purchase program. Anxious investors have awaited further signs from the Fed since Chairman Ben Bernanke on May 22 said the Fed may decide to...
|
|
|
|
Two Utah community banks set merger for 4Q
The holding companies of two Utah community banks have agreed to merge later this year, but the names of their respective branches won’t change. People’s Utah Bancorp, which owns , and Lewiston Bancorp, whose subsidiary is , will combine in the fourth quarter, creating a single holding company with more than $1 billion in assets, the companies...
|
|
|
|
5 ways the banks messed it up
Trust in banks is at an all-time low thanks to taxpayer bailouts, myriad mis-selling scandals and bankers walking...
|
|
|
|
AIRSHOW-UPDATE 1-Qatar interested in Eurofighter, Rafale jets
By Brenda Goh, Praveen Menon and John Irish PARIS, June 19 (Reuters) - Qatar is likely to launch an international tender to renew its fleet of ageing fighter jets soon and is interested in France's Rafale, a French official said, while sources said it was also looking at the BAE Systems-backed Eurofighter Typhoon. Qatar said in 2011 it wanted to replace its fleet of 12 Mirage fighter...
|
|
|
|
How to Invest in the Fed's Slow-Growing Economy
The economy has been mired in slow growth and low rates. Here is why it’s best to invest in small bites Comment () Tweet What if the "breakout" economy does not deliver faster growth and the "new normal" of slow growth and ultra-low interest rates is here to stay? Kevin O'Brien, who manages the Prospector Opportunity fund, says he sees "a lot more reasons" to believe the economy will maintain the status quo for some time to come. Investors are watching the Federal Reserve for any disturbance in the established pattern of low interest rates now in its fifth year. The market has been shaken recently by...
|
|
|
|
Fun and Michael Buble party with marketing pros
Story Highlights Guests sang along with band Fun and singer Michael Buble and videotaped the performances on their iPhonesIt was the second Clear Channel/MediaLink Cannes Lions event; last year's featured Elton JohnThe swanky fete was packed with about 200 VIPs ANTIBES, France — Crooner Michael Bublé and the band Fun rocked a room full of marketing honchos with individual performances, as well as an energetic collaboration on the song Suspicious Minds. The singers entertained advertising and media executives Tuesday night at a private party hosted by Clear Channel Media and Entertainment and advisory firm MediaLink at the Hotel du Cap-Eden-Roc, an ultra-posh sprawling waterside property...
|
|
|
|
Aston Martin reveals 183-mph Vanquish droptop
The topdown look certain seems to fit the Vanquish Volante Aston Martin Fullscreen Here's a side profile Aston Martin Fullscreen The new Vanquish Volante looks sporty from the rear Aston Martin Fullscreen The yellow brake...
|
|
|
|
|
|
| |
|