Home

Business and Finance News

  • Old Southern Bank of Orlando closed down by Florida regulator

    Old Southern Bank of Orlando closed down by Florida regulator

    El Salvador News.Net

    The FDIC has been appointed receiver of the Old Southern Bank, in Orlando.

  • U.S. stocks go sideways as dollar drifts

    U.S. stocks go sideways as dollar drifts

    El Salvador News.Net

    The U.S. dollar was sharply weaker Friday as stocks drifted sideways.

  • Regulators swoop on 84-year old Lousiana bank Statewide

    Regulators swoop on 84-year old Lousiana bank Statewide

    El Salvador News.Net

    The Statewide Bank, headquartered in Covington, Louisiana, has been taken over by Home Bank, on the order of regulators.

  • New York City loses Park Avenue Bank

    New York City loses Park Avenue Bank

    El Salvador News.Net

    Regulators closed the Park Avenue Bank, of New York, New York, Friday and appointed the FDIC as receiver.

  • New York bank LibertyPointe closed by regulators

    New York bank LibertyPointe closed by regulators

    El Salvador News.Net

    The LibertyPointe Bank in New York, New York, has been closed by regulators.

  • Poor quality assets on the rise again

    Poor quality assets on the rise again

    Junk bonds and other risky investment instruments are being sought after, pushing prices above those of investment grade paper.

  • Yellen Emerges As Likely Pick For Fed; Would Favor Low-rate Policies To Ease Unemployment

    Star Tribune

    WASHINGTON - President Barack Obama's likely choice of Janet Yellen to become vice chairman of the Federal Reserve would favor a policy that stresses low interest rates to ease unemployment over highe...

  • Asian Stocks Mixed, Fears Of China Tightening Linger

    The China Post

    HONG KONG -- Japanese Prime Minister Yukio Hatoyama's call Friday for a weaker yen boosted sentiment but fears of credit tightening in China lingered in a mixed day for Asian stocks.

  • Eu 'nearing' Greece Bail-out Deal

    BBC

    The EU is poised to reach agreement on a multi-billion euro bail-out for Greece after weeks of crisis, senior officials have told the BBC.The rescue package would provide loans and guarantees for Gree...

  • Ba Chief: 'unions Are Stuck In A Time Warp'

    Sky News

    British Airways chief executive Willie Walsh has launched a scathing attack on union bosses following the announcement of seven days of strikes by cabin crew.

  • Brian Pitman, Former Lloyds Chief, Dies At 78

    International Herald Tribune

    Go to your Portfolio » His death was announced by the British Bankers’ Association, which said he had a heart attack earlier in the week. Mr. Pitman joined Lloyds Bank in 1952 and was chi...

  • Fdic Shuts 30th Bank For 2010

    CBS News

    People are seen inside the LibertyPointe Bank branch at 120 Broadway Friday in New York. Regulators on Friday shut down banks in New York, Florida and Louisiana, raising to 30 the number of failures t...

  • Video: Text Messages That Self-destruct

    CBS News

    Shira Lazar talks to Jeffrey Evans who began Tiger Text, a texting application that allows the sender to control the lifespan of their text messages.

  • China Gov't Advisers Urge Steady Economy

    ABCNews

    Delegates queue up to leave the main hall at the Great Hall of the People after the closing session of the Chinese People's Political Consultative Conference, China's top political advisory body, in B...

  • Wal-mart Will Pay Millions In Bias Case

    Lexington Herald-Leader

    The country's largest private employer, retail giant Wal-Mart Stores Inc., will pay $11.7 million to settle a federal discrimination lawsuit that contended the company didn't hire women at its London ...

  • China's Legislative Advisory Body: Keep Economy Stable And Steady

    Star Tribune

    BEIJING - China's top parliamentary adviser said Saturday that keeping the economy stable and steady must remain the government's biggest priority this year. Jia Qinglin, the Communist Party's No. 4...

  • Stocks To Watch: Stocks In Focus For Monday

    MarketWatch

    This is the right time for stocks Historically, there have been two particularly auspicious times to buy stock each year. Right now is one of them, writes Kevin Marder.

  • Market Snapshot: U.s. Stock Investors To Use Data As A Road Map

    MarketWatch

    NEW YORK (MarketWatch) -- U.S. stock investors will look in the coming week to economic data for confirmation that the recovery is continuing, while banking on relative inaction from the Federal Reser...

  • Royal Mail Quality Tests 'rigged'

    BBC

    The postal watchdog is considering taking action against Royal Mail after finding quality tests had been rigged.Postcomm, acting on an insider tip-off, found that addresses involved in test deliveries...

  • Australia's Pm Says Obama Visit May Be Shorter Than Planned

    Fox Business

    SYDNEY -(Dow Jones)- Australian Prime Minister Kevin Rudd Saturday said the planned visit later this month by U.S. President Barack Obama will be delayed and may be shorter than originally planned. "...

  • Subscribers: Us Switches To Daylight-saving Time

    Fox Business

    The U.S. and much of Canada will move to daylight-saving time from standard time on Sunday, when clocks will be moved forward by one hour. Regular items transmitted from these countries will appear o...

  • China Studying Dual Listing Of Etfs With Hong Kong--paper

    Fox Business

    SHANGHAI -(Dow Jones)- China is studying the possibility of dual-listing exchange-traded funds with Hong Kong, the state-run China Securities Journal reported Saturday, citing the country's top secur...

  • Update: Ebay's Paypal In Talks With Alibaba International Marketplace

    Fox Business

    EBAY ) PayPal unit is in talks to add its online-payment system as an option on Alibaba.com Ltd's (1688.HK) new AliExpress international marketplace, according to people familiar with the situation....

  • Canwest Lp Proceeds With Sale

    Financial Post

    Canwest Global Communications Corp. said yesterday it is moving on to the second phase of the bidding process for its newspaper division with several non-binding offers in hand. The country's largest...

  • Video: Text Messages That Self-destruct

    CBS News

    Shira Lazar talks to Jeffrey Evans who began Tiger Text, a texting application that allows the sender to control the lifespan of their text messages.

  • Video: Baby Sling Safety Warning

    CBS News

    The Consumer Product Safety Commission is investigating at least 14 deaths involving baby slings. Safety officials warned parents of the potential danger of carrying infants in them. Elaine Quijano re...

  • Exxon Mobil To Proceed With Lng Project

    Yahoo!7 News

    Papua New Guinea .Sales and purchase agreements with LNG buyers, and financing arrangements with lenders, have been completed, the company said on Saturday.Its affiliate, Esso Highlands Limited, is no...

  • Wall Street Faces Fed Meeting With Momentum

    Yahoo!7 News

    Wall Street stocks are set to build on nearly year-and-a-half highs as they face next week's key economic reports and the US Federal Reserve's monetary policy meeting."We are in the process of te...

  • Minnesota Nearly Out Of Money To Help Retrain Laid-off Workers

    Star Tribune

    Faced with a doubling of the number of laid-off Minnesota workers seeking help from state job retraining programs, the state's dislocated worker program is running out of money. While state officials...

  • Best Buy, Opus Founders Launch Commercial Real Estate Venture

    Star Tribune

    Two of the Twin Cities' best-known businessmen have formed a joint venture company to invest in commercial real estate here and nationwide. Richard Schulze, founder of Best Buy Co. Inc., and Gerald R...

  • From Three Local Authors Who Know Volumes

    Star Tribune

    Three folks with deep business roots in the Twin Cities have recently published interesting books. Robert MacGregor was a Presbyterian minister in southeast Minneapolis 50 years ago, who went from co...

  • New Owner Plans To Finish Sexton Lofts

    Star Tribune

    The Sexton Lofts condominium development in downtown Minneapolis has a new owner that plans to complete units left unfinished when the project was hit with financial and legal problems. Minneapolis L...

  • Blue Cross Is Sued Over Disclosing Woman's Records

    Star Tribune

    Blue Cross and Blue Shield of Minnesota, the state's largest health insurer, accidentally published a customer's personal medical information in a handbook prepared for 95,000 members of a popular hea...

  • Buyout Rumors Push Supervalu Stock Up 6%

    Star Tribune

    Supervalu Inc. shares rose the most in almost a year and trading of bullish options surged to a record Friday on speculation that the Eden Prairie-based grocery chain will be acquired. The shares cli...

  • Chile May Borrow Abroad, Tap Its Copper Savings To Rebuild

    Business Week

    March 13 (Bloomberg) -- Chilean President Sebastian Pinera plans to tap copper savings funds and may borrow abroad to pay for the estimated $30 billion cost of repairing damage caused by the 8.8-magni...

  • Cavuto: Hold On To Your Wallets

    Fox Business

    Missed Friday's Cavuto? Catch "The Deal" right here on FOXBusiness.com Around the clock to get the votes for a package whose price is out of this world. Here's the deal: Get the deal done. Now. So...

  • Nortel Sales Decline As Customers Cut Spending

    Reuters

    (Reuters) - Bankrupt Nortel Networks Corp on Friday posted a 62 percent drop in quarterly revenue, as customers cut spending in the face of uncertainty about its bankruptcy proceedings and the shaky e...

  • Wamu Reaches Settlement With Jpmorgan, Fdic

    ABCNews

    Washington Mutual Inc. has tentatively resolved disputes with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp. over some $4 billion at issue in the bank holding company's Chapter 11 bankru...

  • Nortel Networks Posts Profit In 4q

    ABCNews

    Bankrupt telecom equipment maker Nortel Networks Corp. said Friday it posted a profit in the fourth quarter, thanks to a large gain related to an asset sale. For the three months ended Dec. 31, Nor...

  • Hecker Won't Wipe Out $767 Million In Debt

    Star Tribune

    Besieged auto dealer Denny Hecker this week gave up his desperate court fight to get out of debt so he can focus his energies on staying out of prison. In a surprising twist, the defeated auto mogul ...

  • Us Stocks Mixed At Week's End

    Earth Times

    New York - US stocks were mixed on Wall Street Friday, with an unexpected increase in retail sales as shoppers defied heavy snow in February, boosting some results. Retail sales rose in February by 0....

  • Earnings Roundup: Qad 4q Revenue Drops, Verenium Loss Narrows On Trimmed Expenses

    Canadian Business

    (AP) - Among the earnings stories for Friday, March 12, from AP Financial News: NEW YORK (AP) — Shares of QAD Inc. sank after the business software provider reported a drop in fourth-quarter re...

  • Correct: New York Regulators Close The Park Avenue Bank

    Fox Business

    ("2nd UPDATE: New York Regulators Close The Park Avenue Bank," published at 6:01 p.m. EST, and "New York Regulators Close The Park Avenue Bank," published at 5:25, misstated the date on which certain...

  • Uk Liberal Democrats To Emphasize Need For Fiscal Responsibility

    Fox Business

    LONDON -(Dow Jones)- Vince Cable, economic spokesman for the smaller U.K. opposition party, the Liberal Democrats, on Saturday will charge the main U.K. opposition part, the Conservatives, of wanting...

  • Update: Regulators Close Banks In Ny, Florida, Louisiana

    Fox Business

    (Adds details on two additional failures.) WASHINGTON -(Dow Jones)- State regulators on Friday closed small banks in New York, Florida and Louisiana, bringing to 30 the tally of financial institution...

  • Wsj: When Archbishop, Pope Knew Of Sex-offender Priest

    Fox Business

    VATICAN CITY -(Dow Jones)- A burgeoning sex-abuse scandal among German priests escalated on Friday with a disclosure by Pope Benedict XVI's former archdiocese, which said a priest known to the church...

  • Nortel Reports Fourth-quarter Profit

    Fox Business

    SAN FRANCISCO -- Nortel Networks Corp. said Friday it swung to a fourth-quarter profit of $1.78 billion, or $3.34 a share, from a loss of $2.14 billion, or $1.02 a share in the same period a year ear...

  • Evolving Systems Board Chairman Steps Down

    Fox Business

    EVOL ) announced Friday that the Chairman of its Board of Directors, Stephen K. Gartside, resigned, after serving on the board since January of 2004. Thad Dupper, the software solutions and services...

  • Tax Q&a On Withholding, And Spouses Who Live Apart

    Fox Business

    LOS ANGELES -- When you and your wife live and work in two separate states, how do you file your tax returns? And whose fault is it if your payroll department took too little withholding out of your ...

  • Update:fda Panel Narrowly Backs Medtronic Device For Epilepsy

    Fox Business

    (Updates with Medtronic comment in sixth paragraph). By Jennifer Corbett Dooren Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- A Food and Drug Administration panel Friday narrowly backed the use of ...