Headlines

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Format: 07-22-2014
July 21, 2014
Democratic and Republican lawmakers are cooperating on legislation that would lift some of the secrecy around the U.S. council that decides which companies pose the biggest risks to the financial system, Bloomberg News reported Wednesday. The proposed legislation, drafted with help from the main...
July 21, 2014
Detroit neighborhoods are being relit, its vacant homes are being sold off or torn down, its public transportation is cleaner and more often on schedule, and the city has renegotiated some burdensome union contracts, The Associated Press reported yesterday. In the little more than a year since...
July 21, 2014
After government testing showed that scores of consumer products carrying the Energy Star label did not deserve the listing, a wave of class-action lawsuits were filed against the companies that manufacture the products, The New York Times reported today. Now, at least one major manufacturer wants...
July 21, 2014
Argentina is set to default in less than two weeks unless it reaches a deal with holders of defaulted bonds or U.S. courts grant a delay to allow the nation to continue servicing restructured bonds, Bloomberg reported yesterday. U.S. Judge Thomas Griesa blocked the country’s attempt to make a June...
July 21, 2014
Elliott Management Corp. has taken a stake of more than $1 billion in EMC Corp. and plans to push the data-storage giant to break itself apart, The Wall Street Journal reported today. The investment, which hasn't been previously disclosed, amounts to about 2 percent of the Hopkinton, Mass., company...
July 21, 2014
Florida-based power company NextEra Energy is raising the ante in its bid to take over Texas transmission company Oncor, Dallas News Business reported on Friday. As the Energy Future Holdings bankruptcy unfolds in federal court, NextEra has opted to outbid itself in what appears to be turning into...
July 21, 2014
Credit Suisse Group AG is poised to report its biggest quarterly loss since the collapse of Lehman Brothers Holdings Inc. after being fined $2.6 billion for helping American clients evade taxes, Bloomberg reported yesterday. The bank will post a loss of 701 million Swiss francs ($781 million) on...
July 21, 2014
The share of U.S. firms giving pay raises has nearly tripled since last fall, according to a new survey of business economists by the National Association for Business Economics, although official data on U.S. workers’ earnings haven’t shown any broad acceleration in wage growth, The Wall Street...
July 21, 2014
A private school in De Pere, Wis., has closed and filed for bankruptcy, leaving some parents out nearly $30,000 in tuition payments, The Associated Press reported yesterday. The Wisconsin International School filed for chapter 7 this month after notifying staff and parents by email that the school...
July 21, 2014
A Dallas woman was sentenced on Friday to one year and one day in federal prison for making false statements during her multiple bankruptcy filings, Dallas Morning News reported Friday. Estela Martinez, 54, had pleaded guilty in August 2013 to one count of making a false statement under penalty of...
July 21, 2014
Regulators have closed a small lender in Georgia, bringing U.S. bank failures this year to 13 following 24 closures in all of 2013, The Associated Press reported Friday. The Federal Deposit Insurance Corp. said that it has taken over Eastside Commercial Bank, based in Conyers, Ga. The bank, which...
July 18, 2014
Amid calls for his firing for his department’s role in not revealing a safety defect linked to 13 deaths, General Motors’ top lawyer said yesterday that the company won’t waive its bankruptcy protection from court claims linked to millions of defective vehicles, the Detroit Free Press reported...