Latest Breaking Business News
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Wells Fargo leads bank foreclosure halt after OCC guidance
Wells Fargo & Co., the biggest U.S. home lender, halted some foreclosure sales until it can understand new federal guidelines on seizures sent to the nation's large and midsize banks. The rules from the Office of the Comptroller of the Currency dated last month laid out minimum standards that must be met before a foreclosed home can be sold. Citigroup Inc. also said Friday it's ...
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Donaldson results miss expectations
The dull global economy and falling currencies in Europe and Japan are cutting into sales at Donaldson Co., which reported a lackluster third quarter Friday that missed Wall Street expectations. ...
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UnitedHealth slow to fix military care backlog Pentagon says
UnitedHealth Group Inc. is failing to meet terms of a $20.5 billion military contract, causing lingering delays to medical care, a Pentagon official said. The backlogs occurred ...
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Report finds Gen Xers lost almost half their wealth in recession questions retirement savings
NEW YORK - A research report by the Pew Charitable Trusts says younger baby boomers and Generation Xers face an uncertain retirement because of reduced savings, high levels of debt, and losses during the Great Recession. The study found that members of Generation X, who are now between 38 and 47 years old, lost almost half their wealth between 2007 and 2010. Young baby boomers, who are between ...
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Bulls Will Drive Market but Bernanke Is Steering
Federal Reserve Board Chairman Ben Bernanke listens during a meeting of the Financial Stability Oversight Council at the Treasury Department in Washington, ...
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NYSE cancels irregular trades in Anadarko stock Bloomberg
Trading in the shares of the $45.15 billion company plunged to trade at 1 cent per share shortly before markets closed on Friday. The stock gained back its losses and closed up 2.5 pct $90.03 on the New York Stock ...
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Yahoo to vote on $1.1 billion Tumblr buy AllThingsD
SAN FRANCISCO (Reuters) - Yahoo Inc's board will meet on Sunday to vote on whether to offer $1.1 billion in cash for New York-based blogging service Tumblr, tech blog AllThingsD cited sources close to the situation as saying on ...
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CORRECTED-UPDATE 2-Investor group calls on SEC to review change in JPMorgan voting
Fri May 17, 2013 9:08pm EDT (Changes "letter" to "call" in eighth paragraph) By David Henry NEW YORK May 17 (Reuters) - Pension and endowment managers on Friday called on U.S. regulators to review the rules for shareholder voting after a firm collecting ballots for JPMorgan Chase & Co cut off the bank's opponents from polling information. The Council of Institutional ...
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Village Voice tosses veteran columnists Musto Feingold
Turmoil continued to grip the Village Voice today, with owners of the free weekly axing two of its most well-known columnists - Michael Musto, who had penned the gossipy La Dolce Vita for 20 years, and veteran theater critic and 2009 Pulitzer Prize finalist Michael Feingold.Feingold was a staffer for 30 years. "As of next week, veteran gossip columnist Michael Musto and longtime theater ...
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Mugabe’s party accuses Coca Cola of promoting rival party ahead of election
A man waits to obtain his national identity card during a voter registration drive in Harare ahead of the general election. Photograph: Philimon ...
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Wall St Week Ahead Correction talk gets old as rally sails along
By Angela Moon NEW YORK | Fri May 17, 2013 7:45pm EDT NEW YORK May 17 (Reuters) - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old. Concerns about a technical correction have been a hot topic for weeks, especially as the rally ...
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San Diegos export potential problematic
The choice is not whether we compete but whether we do it well or not, and the cost or risk of competing poorly is falling behind. San Diego is faced with trade-related infrastructure capacity constraints in four of the five ways to move people and goods in and out of the region, forcing us to depend upon the increasingly constrained infrastructure located in the greater Los Angeles area. To ...
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Northrop Grumman lands $555.6 million contract
Northrop Grumman's San Diego division has been awarded a two-year Air Force contract potentially valued at $555.6 million to modernize its Global Hawk unmanned aerial vehicles, the Defense Department ...
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San Diego firms report March quarter results
Envision Solar, a San Diego maker of solar tree structures for parking lots and other uses, posted lower sales and larger loss for the quarter ended March 31 compared with the prior ...
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Europe investors bow to Africa Asia in U.S. real estate deals
The panel analyzing capital investment in U.S. real estate, from left, were: John R. Miller, Charles H. Fedalen Jr., Christopher R. Ludeman, J. Michael Stedman and Jon H. ...
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Seattles Tableau goes from bedroom startup to Wall Street darling
The data-visualization company burst onto the public markets Friday with a steller public offering, jumping 64 percent to close at $50.75, up from its initial $31 price. Nearly 100 employees were in New York to celebrate while parties were held at its offices, including its headquarters in Fremont. Ten years earlier the future wasn't so clear, though Chief Executive Christian Chabot ...
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Lloyds’ shares rise above break-even level raising hopes for sell-off of taxpayers’ stake
The prospect of the Government getting rid of its stake in Lloyds moved closer yesterday as shares in the bank broke the level set as the break-even price for ...
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Kudlow The Only Fix for IRS Mess
When you get right down to it, the political targeting and stalling of tax-exempt applications by the IRS was an effort to defund the Tea Party. Rick Santelli, one of the Tea Party founders and my CNBC colleague, was the first to make this point. I've taken it a step further: The IRS was taking the Tea Party out of play for the 2012 election, as it looked to avoid a repeat of 2010 and ...
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This Week on Wall Street 517
BOSTON (CBS) – How high can the markets go? Dave Caruso from Coastal Capital in Danvers looks into that question as he reviews the Week on Wall Street, with WBZ's Anthony ...
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The scandal beneath the fold the need for reform on Wall Street
Sen. Sherrod Brown, D-Ohio, joins The Cycle to talk about one of the issues that's been held in captivity in D.C. for much longer than other scandals: Wall Street ...
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Former BMO Analyst to Pay C$1.2 Million to Settle Insider-Trading Charges
A former investment-banking analyst at a unit of Bank of Montreal (BMO) agreed to pay a total of 1.2 million Canadian dollars ($1.2 million) among other penalties to settle insider-trading charges, as Canada's biggest securities regulators continue to clamp down on inappropriate trading activity.The Ontario Securities Commission alleged that Ming Chao Zhao used insider information on five ...
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Target goes hunting in Silicon Valley following Wal-Mart
By Alistair Barr SAN FRANCISCO | Fri May 17, 2013 7:13pm EDT SAN FRANCISCO May 17 (Reuters) - Target Corp said on Friday it opened a new San Francisco office to track down technology companies that can help the second-largest U.S. retailer grow its online commerce business. Target's Technology Innovation Center is run by David Newman, an executive who spent six years at the online ...
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Nigel Wright who gave Senator $90000 broke cardinal rule of crisis management
Any day now, Prime Minister Stephen Harper should appear before the Canadian public with that chastened look most leaders who've been broadsided eventually adopt. Think Royal Bank of Canada's CEO Gord Nixon after last month's fallout over the temporary foreign workers fiasco. Mr. Harper, like Mr. Nixon, won't have much choice. Why? Because the Prime Minister's chief of ...
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Alberta’s new bold stance deserves credit
Albertans hurt by deep budget cuts due to shrinking provincial revenue from discounted bitumen prices may question the province's bold buildup of its international ...
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Wall Streets Record-Breaking Week
The S&P 500 also closed the week at an all-time high. Like the Dow, the S&P is up just about 17 percent this year. The S&P has also been up 17 of the last 21 ...
St Petersburg Featured
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The Pier in danger after decades of memories and pictures
Advocates for The Pier want it to be renovated and restored in its current form, kept as the tourist attraction it is, while city officials feel it would be more economical and feasible to tear it down and replace it with a new structure. The advocates for The Pier want us to decide.
The Pier, as it is called by St Petersburg residents, or the St Petersburg Pier, as it is known nationally and even internationally, is one of the major landmarks of the city and a seminal tourist attraction and has been visited by tens of millions of people during the course of its existence, but it may soon be demolished and replaced, which has courted the anger of many residents. Read more
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