Micron Technology Announces New Chief
5 Feb 2012, 12:23 am

Micron Technology announced Mark Durcan had been appointed chief executive replacing Steven Appleton, who was killed Friday when the small plane he was piloting crashed.

Dow at Highest Since May 2008
5 Feb 2012, 12:22 am

The blue-chip stock index rose 156.82 points to its highest level since May 2008, as better economic news encouraged investors. The Nasdaq hit its highest close since December 2000.

Greece Weighs Cuts Amid Bailout Talks
4 Feb 2012, 11:06 pm

Greece edged toward a deal on a second billion bailout package, as political leaders were set to meet Sunday to weigh critical spending cuts.

Jobs Data Show Growth Is Sustained
4 Feb 2012, 6:19 pm

The U.S. economy added more jobs in January than in any month since early last year, pushing down the jobless rate to a level not seen since Obama's first full month in office.

China Tamps Down Europe Aid Fears
4 Feb 2012, 4:06 am

Chinese Premier Wen Jiabao sought to assuage concerns over Chinese investment in Europe, saying China has no intention to "buy" the continent.

Goldman Cuts Blankfein's Bonus
3 Feb 2012, 9:47 pm

Goldman Sachs cut CEO Lloyd Blankfein's stock bonus for the first time since the financial crisis, the latest sign that Wall Street executives are paying for a year of mixed financial performance.

Interest-Rate Probe Widens
3 Feb 2012, 9:22 pm

Regulators in Switzerland and the U.K. stepped up pressure on Swiss and foreign banks, extending a probe into alleged manipulation of interest rates and disclosing possible action against UBS in a trading scandal.

Caterpillar Closes Plant in Canada After Lockout
3 Feb 2012, 9:16 pm

Caterpillar said it will close a locomotive plant in London, Ontario, following a lockout, eliminating about 450 jobs that mostly paid twice the rate of a U.S. counterpart.

Citi Hit in Brazilian Hacker Attack
3 Feb 2012, 8:57 pm

A computer hacker group continued a wave of attacks against Brazilian financial websites, hampering the sites of Citigroup and other prominent institutions.

FDA: No Ban on Orange-Juice Imports
3 Feb 2012, 6:57 pm

Orange-juice futures settled lower as traders discounted the prospects for a ban on juice imports into the U.S. It appears they weren't off the mark.

Despite Intervention, Brazil's Currency Gains
3 Feb 2012, 6:55 pm

Brazil's real climbed against the dollar after strong U.S. jobs figures outweighed the central bank's intervention in an attempt to weaken the currency.

With Role Lessened, Loan Chief Exits BofA
3 Feb 2012, 6:54 pm

Barbara Desoer, a high-profile mortgage executive who once was a candidate to become chief executive of Bank of America, is leaving as the financial giant retreats from the home-loan business.

H-P to Put Proxy-Access Proposal to Vote
3 Feb 2012, 6:46 pm

Hewlett-Packard agreed to give its stockholders the chance to approve so-called proxy access through a bylaw vote at its 2013 annual meeting.

Injunction Interrupts Apple Sales in Germany
3 Feb 2012, 2:34 pm

Some Apple devices were unavailable for sale briefly on Friday in Germany, as part of a patent tussle with Motorola Mobility.

Fed May Sell More AIG Bonds as Risk Hunger Picks Up
3 Feb 2012, 1:55 pm

The New York Fed is asking for bids on some $6 billion in residential mortgage-backed securities from its Maiden Lane II portfolio it took on as part of the 2008 bailout of American International Group.

Clorox Posts Strong Sales for Quarter
3 Feb 2012, 12:38 pm

Clorox said fiscal second-quarter sales rose more than expected with help from higher prices, overcoming concerns that tepid demand in North America would crimp sales for household staples.

Walgreen Same-Store Sales Decline
3 Feb 2012, 12:22 pm

Walgreen's same-store sales slid 4.6% in January as the drugstore chain's prescriptions sales were battered by the loss of major customer Express Scripts.

New Car Prices Rising Along With Sales
3 Feb 2012, 10:19 am

U.S. auto dealers are now selling vehicles at historically high prices in another sign the auto industry's recovery is moving into the fast lane.

Cost Cuts Boost BT
3 Feb 2012, 9:31 am

BT Group posted a 41% jump in third-quarter net profit, aided by further cost cutting, lower finance expenses and new contracts, and said it will reach some of its earnings targets a year earlier than expected.

Aon's Profit Rises 20%
3 Feb 2012, 9:28 am

Aon's fourth-quarter profit rose 20% as the insurance brokerage and consulting firm logged solid results in its human-resources business and benefited from restructuring.

Restructuring Costs Weigh on Weyerhaeuser
3 Feb 2012, 9:28 am

Weyerhaeuser's fourth-quarter earnings fell 62% as the company booked restructuring charges and write-downs, while the wood-products segment posted softer sales.

RBS 'Surprised' by Pay Backlash
3 Feb 2012, 8:45 am

RBS's chairman acknowledged that the bank had miscalculated the public and political reaction to the $1.5 million bonus in shares awarded to CEO Stephen Hester, who subsequently turned down the payment.

Panasonic Forecasts $10 Billion Loss
3 Feb 2012, 6:10 am

Panasonic revised its forecast loss for the current fiscal year to more than $10 billion, which would be the second-largest ever for a Japanese manufacturer.

Hutchison Whampoa Buys Orange Austria
3 Feb 2012, 2:05 am

Hutchison Whampoa agreed to buy Austria's third-largest mobile operator for about $1.71 billion in a move that will enable the Hong Kong conglomerate to expand its market share in Austria.

Nikon Sinks to Loss on Thai Floods
3 Feb 2012, 12:04 am

Nikon said it slipped into a net loss in the October-December quarter, as it absorbed the impact of floods on its operations in Thailand.

Summary Box: Sallie Mae changes policy on loan fee (AP)
2 Feb 2012, 2:05 pm

AP - THE NEWS: Private student lender Sallie Mae is changing how it handles a fee that struggling borrowers must pay to temporarily suspend payments.

Mortgage rates for the past 52 weeks, at a glance (AP)
2 Feb 2012, 8:25 am

AP - Mortgage rates for the past 52 weeks, at a glance

President Obama's Mortgage Refinance Plan Just a Bid for Votes (ContributorNetwork)
1 Feb 2012, 12:01 pm

ContributorNetwork - COMMENTARY | The Associated Press is reporting that President Barack Obama is planning to push for legislation that would allow millions of homeowners with government-backed mortgages to refinance their loans to take advantage of the historically low interest rate.

States to decide this week on mortgage deal (Reuters)
30 Jan 2012, 3:05 pm

Reuters - State and federal officials are close to a settlement with the largest U.S. banks over mortgage abuses, with states facing an end-of-the-week deadline to decide whether they will sign on, people close to the talks said.

How Fastenal Is Vending a Success Story (The Motley Fool)
27 Jan 2012, 6:35 pm

The Motley Fool - Industrial and construction materials supplier Fastenal (Nasdaq: FAST - News) has significantly upped its market presence lately with the expansion of its industrial vending machines -- dubbed a "one-stop shop" to replenish supplies.

Subpoenas issued to financial firms in expanded probe (Reuters)
27 Jan 2012, 4:57 pm

Reuters - The Justice Department issued civil subpoenas to 11 financial institutions as part of a new effort to investigate misconduct in the packaging and sale of home loans to investors, Attorney General Eric Holder said on Friday.

Justice unit to probe mortgage-backed securities (AP)
27 Jan 2012, 3:12 pm

AP - Federal and state law enforcement officials announced Friday they have launched a fraud-fighting unit, starting with 55 prosecutors and investigators, to root out wrongdoing in the market for residential mortgage-backed securities.

Analysis: Banks expect to spend less on bad mortgages (Reuters)
27 Jan 2012, 1:22 pm

Reuters - Even as President Barack Obama is calling for more assistance for struggling mortgage borrowers, major banks are looking forward to spending less to handle problem home loans.

Attention Investors: More Fruits and Veggies From ConAgra! (The Motley Fool)
27 Jan 2012, 12:19 pm

The Motley Fool - Packaged foods giant ConAgra Foods (NYSE: CAG - News) looks set to expand its presence outside U.S. borders, as it plans to acquire Del Monte Canada from an affiliate of private equity firm Sun Capital Partners for an undisclosed amount.

Bank of America extends drop in mortgage rankings (Reuters)
26 Jan 2012, 2:15 pm

Reuters - Bank of America Corp was the fourth-biggest U.S. mortgage lender in the fourth quarter of 2011, continuing its descent in the rankings after it stopped buying loans made by smaller banks.

JPMorgan CEO says foreclosure deal threatened (Reuters)
26 Jan 2012, 5:54 am

Reuters - JPMorgan Chase & Co Chief Executive Jamie Dimon said President Barack Obama's decision to expand investigations into home lending and sales of mortgage securities could stop settlement talks with the states over foreclosure practices.

Illinois attorney general sues Standard & Poor's (AP)
25 Jan 2012, 6:16 pm

AP - The Illinois attorney general filed a lawsuit Wednesday accusing Standard & Poor's of misleading investors by assigning its highest ratings to risky mortgage-backed investments during the years leading up to the crash of the housing market.

California calls mortgage settlement "inadequate" (AP)
25 Jan 2012, 4:29 pm

AP - California officials are refusing to sign a proposed settlement between U.S. states and the nation's biggest mortgage lenders over deceptive foreclosure practices, calling it "inadequate."

GOP Candidates Spar on Freddie Mac and Fannie Mae (ContributorNetwork)
25 Jan 2012, 11:42 am

ContributorNetwork - American taxpayers have contributed more than $183 billion to bailout mortgage lenders Freddie Mac and Fannie Mae in the years following the housing collapse, according to CNN. Given this considerable burden, the Republican presidential candidates were asked if they played any role in aiding these two firms and how they plan on helping distressed homeowners.

Housing data points to slowdown in sales (Reuters)
25 Jan 2012, 9:28 am

Reuters - Signed contracts for the sale of existing U.S. homes retreated from a 1-1/2-year high in December and demand for home loans fell last week, pointing to a moderation in home sales after recent hefty gains.

2 Positives From BNY Mellon's Otherwise Timid Quarter (The Motley Fool)
24 Jan 2012, 1:47 pm

The Motley Fool - A risk-averse environment and lower trading levels resulted in mediocre results for U.S. trust banks. The largest of them all, Bank of New York Mellon (NYSE: BK - News), recorded a 26% fall in fourth-quarter profits on account of lower fee revenues.

Consumer finance chief touts enforcement powers (AP)
24 Jan 2012, 1:21 pm

AP - The government's new consumer finance watchdog agency is prepared to sue companies that offer unfair or deceptive mortgages and credit cards, its director said Tuesday.

Romney's Taxes Will Hurt Him (ContributorNetwork)
24 Jan 2012, 12:48 pm

ContributorNetwork - COMMENTARY | Mitt Romney has released his tax records, reports Reuters. The records, from 2010 and 2011, indicate he is paying an average tax rate of about 14.5 percent over the two years. The reason the tax rate is far lower than the maximum income tax rate of 35 percent is that Romney's income is primarily from investments, which are taxed at a lesser rate. For both years combined, Romney will pay around $6.2 million on $42.5 million in income. His net worth is estimated at $190 million to $250 million.

How did Romney's IRA grow so big? (Reuters)
23 Jan 2012, 7:33 pm

Reuters - In the wake of news reports last week that presidential contender Mitt Romney owns an individual retirement account worth as much as $101 million, questions are growing over how it could have gotten so big when contribution limits are capped at $5,000 or $6,000 a year.

Gingrich firm releases Freddie Mac contract (Reuters)
23 Jan 2012, 6:34 pm

Reuters - In an attempt to deflect attention over his involvement with Freddie Mac, Republican presidential candidate Newt Gingrich's former consulting firm on Monday released a contract he had with the troubled mortgage firm.