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ECB official: New bank authority 'indispensable'
European Central Bank President Mario Draghi said it was "imperative" that Europe's leaders create a new agency with powers to restructure busted banks in order to help the region leave its economic and financial crisis behind it once and for all. In the text of a speech to be delivered ...
Why worry? Less aid by Fed would point to recovery
Investors have grown nervous that the Federal Reserve will scale back its efforts to boost the U.S. economy sooner than many expected. Yet almost lost in the anxiety that gripped the stock market this week is that whenever the Fed slows its drive to keep interest rates low, it will ...
Why worry? Less aid by Fed would point to recovery
Investors have grown nervous that the Federal Reserve will scale back its efforts to boost the U.S. economy sooner than many expected. Yet almost lost in the anxiety that gripped the stock market this week is that whenever the Fed slows its drive to keep interest rates low, it will ...
BC-Money Rates,1st-LdWritethru
Money rates Thursday for various loans, CDs and Treasurys: Prime Rate: 3.25 Discount Rate Primary: 0.75 Discount Rate Secondary: 1.25 Broker call loan rate: 2.00 Federal funds effective rate 0.08 Certificates of Deposit Retail:¤ 1 month, 0.10 3 months, 0.24 6 months, 0.40 1 year, 0.57 Jumbo CDs: 1 month, ...
US: Lock up ex-Michigan justice for bank fraud
Federal prosecutors are urging a judge to send a former Michigan Supreme Court justice to prison for bank fraud. The U.S. government filed a sentencing memo in the case against Diane Hathaway ahead of a hearing next Tuesday in Ann Arbor federal court. Prosecutors say her crime was "coordinated" and ...
Stocks edge lower as investors reassess Fed fears
Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower. U.S. markets plummeted immediately after the opening bell Thursday following a global slump prompted in part by an unexpectedly weak report on manufacturing in China. Concern that the Federal Reserve might ease ...
Arizona tribe claims bank mismanaged investments
The Hopi Tribe of northern Arizona claims its investments were mishandled by a national banking institute, resulting in the loss of millions of dollars. The tribe filed its claims against Wachovia earlier this month with the Financial Industry Regulatory Authority. It is seeking more than $190 million in damages and ...
BC-Dividends
Pe- Stk of pay- riod rate record able IRREGULAR Vodafone Grorp z S 1.0488 6-14 8-7 z- Approx. amount per ADR or ADS. INCREASED Amer Tower Q .27 6-17 7-16 Bunge Ltd Q .30 8-20 9-3 FedFirst Financial Q .06 6-14 6-28 Hewlett-Packard x Q .1452 6-12 7-3 x- Previously ...
Sears reports bigger-than-expected 1Q loss
Sears Holdings Corp. reported a steeper-than-expected loss for its first quarter with the beleaguered retailer blaming a cooler spring for falling sales. The operator of Sears and Kmart stores also said it's considering strategic options for its service-agreement business, such as selling it off, to raise cash. Service agreements are ...
Charlotte man pleads guilty to securities fraud
A Charlotte man has pleaded guilty to carrying out an $8.9 million Ponzi scheme. Stephen Maiden pleaded guilty Thursday to securities fraud and was released on bond. The 40-year-old Maiden faces a maximum penalty of 20 years in prison and a $250,000 fine. The U.S. Attorney's Office in Charlotte says ...
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