Stocks mixed as investors reassess Fed worries
2013-05-23 18:04:00 UTC
NEW YORK (AP) — Investors recovered their poise by midday Thursday after an early sell-off sent stocks sharply lower.
U.S. markets fell immediately after the opening bell following a global slump prompted in part by an unexpectedly weak r...
China sentences underground bank operator to death
2013-05-20 09:17:27 UTC
BEIJING (AP) — A businesswoman in southern China has been sentenced to death on charges of defrauding investors as the government tightens controls on informal financing that is widely used by entrepreneurs.
Lin Haiyan was convicted of "illegal...
German finance minister suggests 2-step bank union
2013-05-13 07:49:24 UTC
BERLIN (AP) — Europe shouldn't rush to establish a central authority to wind up failing banks, but should rely at first on cooperation between national agencies, according to Germany's finance minister.
Setting out how to shut failed banks is o...
Dollar rises above 100 yen for 1st time in 4 years
2013-05-10 05:06:11 UTC
TOKYO (AP) — The dollar rose above 100 yen for the first time in more than four years Friday as currency traders persist in selling the Japanese currency in reaction to Tokyo's aggressive credit-easing moves to help revive Japan's mo...
Tax cheats pony up $5.5 billion in amnesty program
2013-04-27 05:13:54 UTC
WASHINGTON (AP) — The Internal Revenue Service has recouped more than $5.5 billion under a series of programs that offered reduced penalties and no jail time to people who voluntarily disclosed assets they were hiding overseas, government ...
Psst. Tax deadline not much of a deadline for most
2013-04-16 04:19:48 UTC
WASHINGTON (AP) — Here's a little secret for all you procrastinators on Tax Day: The Internal Revenue Service doesn't like to talk about it, but as long as you don't owe any additional taxes, there is no penalty for filing a few d...
Financial hub Luxembourg under increased scrutiny
2013-04-07 08:39:02 UTC
BRUSSELS (AP) — As the European Union's wealthiest country, Luxembourg could have been forgiven for thinking that it would never find itself on the bloc's financial risk list.
With just half a million people living on a tiny patch of lush land ...
Secret Files Expose Offshore's Global Impact
2013-04-04 17:25:13 UTC
Dozens of journalists sifted through millions of leaked records and thousands of names to produce ICIJ’s investigation into offshore secrecy
By Gerard Ryle, Marina Walker Guevara, Michael Hudson, Nicky Hager, Duncan Campbell and Stefan Candea
What happens if Cyprus collapses?
2013-03-23 08:40:04 UTC
PARIS (AP) — What happens if Cyprus' banks collapse? If its government goes broke? If it leaves the euro?
The European Union, the International Monetary Fund, the European Central Bank and the country's leaders are trying to find a deal...
Late night: Senate Democrats work to pass budget
2013-03-23 08:29:59 UTC
WASHINGTON (AP) — The Senate labored into the wee hours Saturday as Democrats pushed their first budget in four years toward passage, calling for almost $1 trillion in tax increases over the coming decade while sheltering safety net progra...
Stocks rebound, bolstered by strong earnings
2013-03-22 16:09:33 UTC
Stocks are higher on Wall Street, bolstered by strong earnings from major U.S. corporations. Investors are also taking advantage of an earlier market decline to add to their holdings.
The Dow Jones industrial average rose 92 po...
Cyprus to vote on new plan, Europe skeptical
2013-03-22 15:35:15 UTC
NICOSIA, Cyprus (AP) — Cypriot lawmakers are due to vote Friday on a raft of new measures they hope will qualify the country for a bailout package and avoid financial ruin next week. But officials in Brussels and Berlin gave no indic...
Measure of US economy's health rises in February
2013-03-21 17:15:08 UTC
WASHINGTON (AP) — A measure of the U.S. economy's health over the next six months increased in February from January, a sign that growth could be improving.
The Conference Board said Thursday that its index of leading indicator...
Weak Oracle sales, Cyprus fears weigh on US shares
2013-03-21 17:08:05 UTC
Stocks fell on Wall Street Thursday as Oracle's weak sales results weighed down big U.S. technology companies. Traders worried about Cyprus running out of time to avoid bankruptcy.
Major indexes followed European markets lower ...
Fed says it will stick with aggressive stimulus
2013-03-21 04:33:45 UTC
WASHINGTON (AP) — The Federal Reserve on Wednesday stood by its efforts to keep borrowing costs at record lows, saying it isn't yet convinced that the U.S. economy's growth can accelerate without significant help from the central...
Cyprus in limbo after rejecting bank seizures plan
2013-03-20 06:22:43 UTC
NICOSIA, Cyprus (AP) — Lawmakers in Cyprus decisively rejected a plan on Tuesday to seize up to 10 percent of people's bank deposits in order to secure an international bailout and prevent a collapse of the country's banks.
The vote leaves the ...
Fed likely to back low-rate policies despite gains
2013-03-19 05:07:20 UTC
WASHINGTON (AP) — The U.S. economy is strengthening on the fuel of more job growth, rising home prices and solid retail sales. Just don't expect the Federal Reserve to let up in its drive to keep stimulating the economy with recor...
Cyprus president tries to amend bailout plan
2013-03-18 05:19:24 UTC
NICOSIA, Cyprus (AP) — Cyprus' president said Sunday that he is trying to amend a key provision of an unpopular eurozone bailout plan that would tax deposits in the country's banks to reduce its effect on small savers.
But in a national...
Cypriots' president defends bailout deal
2013-03-16 17:30:51 UTC
NICOSIA, Cyprus (AP) — Cyprus' president says a decision to force bank depositors to share the burden of a rescue package was done to save the country from financial ruin.
Nicos Anastasiades said in a statement Saturday that Cyprus had ...
Cyprus secures $13 bn bailout from eurozone, IMF
2013-03-16 06:39:02 UTC
BRUSSELS (AP) — Cash-strapped Cyprus secured a €10 billion ($13 billion) bailout package from its European partners and the International Monetary Fund in a bid to prevent the island nation from entering a bankruptcy that could r...
Air traffic tower closures will strip safety net
2013-03-15 19:38:44 UTC
CHICAGO (AP) — The planned shutdown of nearly 240 air traffic control towers across the country under federal budget cuts will strip away an extra layer of safety during takeoffs and landings, leaving pilots to manage the most cr...
Pacific trade pact calls for tough Japan reforms
2013-03-15 04:21:23 UTC
TOKYO (AP) — Prime Minister Shinzo Abe is set to announce Japan will join talks on a Pacific trade pact that would oblige the country to undertake major reforms, especially in farming.
The expected announcement later Friday confirming plans t...
Software glitch delays 660,000 tax refunds
2013-03-14 20:32:20 UTC
WASHINGTON (AP) — The Internal Revenue Service says 660,000 taxpayers will have their refunds delayed by up to six weeks because of a problem with the software they used to file their tax returns.
The delay affects people claiming educati...
Senate panel to approve budget sparing safety net
2013-03-14 18:53:29 UTC
WASHINGTON (AP) — Acting on the Senate's first budget since President Barack Obama took office, a Democratic-led panel is moving toward party-line approval of a fiscal blueprint that would only modestly trim the budget deficit while prote...
GOP budget takes aim again at Obamacare, Medicaid
2013-03-12 18:54:39 UTC
WASHINGTON (AP) — House Republicans unveiled their latest budget outline on Tuesday, sticking to their plans to try to repeal so-called Obamacare, cut domestic programs ranging from Medicaid to college grants and require future Medicare pa...