Category Archives: Business
US Stocks Fall, Snapping Three-Day Winning Streak – Wall Street Journal
Of THE WALL STREET JOURNAL U.S. stocks faltered, snapping a three-day winning streak, as investors took a cautious stance on the European economy and uncertainty about the implementation of Greece's debt deal. The Dow Jones Industrial Average gave up 27.02 points, or 0.21%, to 12938.67, snapping a three-day winning streak. The Standard & Poor's 500-stock … Continue reading
Home prices at lowest point in more than 10 years
NEW YORK (CNNMoney) -- Home prices fell to their lowest point in more than a decade in January, which helped to lift the pace of home sales, according to a report from an industry trade group. The National Association of Realtors reported that the median home price in January fell 2% from December to $154,700. … Continue reading
OBAMA: SLASH TAX BREAKS
Geithner unveils Obama plan to reduce top rate to 28%; Treasury Secretary says code 'needs to be reformed and modernized.' NEW YORK (CNNMoney) -- After more than a year in the making, the Obama administration on Wednesday released its plan to overhaul the corporate tax code. The main proposal for reform would slash the corporate … Continue reading
Amazon Yanks 5000 Kindle IPG Titles In Fight Over Terms – paidContent.org
Amazon (NSDQ: AMZN) has turned off the buy button on nearly 5,000 Kindle titles from distributor Independent Publishers Group after IPG refused to capitulate to Amazon’s demand for better terms. Updated: IPG’s full memo to publishers on page 2. The story was first reported by Publishers Marketplace and was confirmed by IPG President Mark Suchomel, … Continue reading
Romney’s plan to cut your taxes
Mitt Romney has a new tax plan. NEW YORK (CNNMoney) -- In a switch to a more aggressive tax plan, Mitt Romney said Wednesday that he now favors cutting marginal tax rates for individuals by 20%. The candidate had previously said he would "maintain current tax rates on personal income" as president before moving to … Continue reading
Citi, UBS provide keys to interest rate-rigging probe: sources (Reuters)
[unable to retrieve full-text content]Reuters - Citigroup Inc and UBS AG , in a series of disclosures to law-enforcement officials, have provided crucial information to investigators in multiple countries as part of inquiries into whether the world's biggest banks manipulated a global benchmark interest rate, according to people familiar with the situation.
Nasdaq looks to Congress to win market reforms (Reuters)
[unable to retrieve full-text content]Reuters - Exchange operator Nasdaq OMX is trying to gain support for a legislative proposal that would give it a competitive edge over both rival exchanges and banks that operate anonymous trading venues known as "dark pools."
Greek Parliament to discuss austerity, bond swap deal as unions plan protest rally – Washington Post
Fitch Cuts Greek Rating, Says Debt Exchange Equals Default – Forbes
[unable to retrieve full-text content]Globe and MailFitch Cuts Greek Rating, Says Debt Exchange Equals DefaultForbesIt came as no surprise, but Fitch Ratings knocked Greece's credit rating a few notches lower Wednesday to C, from CCC, The ratings agency said the planned 53.5% haircut on the face value of the country's bonds will “constitute a rating … Continue reading
Obama wants 28% corporate tax rate – CNN
Washington (CNN) - The Treasury Department will unveil President Barack Obama's corporate tax reform plan on Wednesday that will reduce the overall corporate tax rate, an senior administration official told CNN. The President's tax plan is intended to "enhance American competitiveness by simplifying the tax code and eliminating dozens of tax loopholes and subsidies, incentivizing … Continue reading