Category Archives: Banking

Stocks rally, recovering from sharp drop after Fed speech

By doris | Published: August 28, 2011

Full Story at msnbc.com NEW YORK — The Dow Jones industrial average ended another turbulent week with a strong gain Friday after Federal Reserve Chairman Ben Bernanke said the U.S. was headed for long-term economic growth. It was the first winning week in a month. Trading volume was light, a sign that many traders were [...]

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Banking giant plans to cut 25,000 more jobs

By doris | Published: August 1, 2011

Full Story at msnbc.com LONDON — HSBC will axe 30,000 jobs as it slashes costs and retreats from countries such as Russia, Poland and the U.S., where it is struggling to compete, Europe’s biggest bank said after reporting a surprise rise in first-half profit. HSBC’s shares rose as much as 5 percent as first-half pretax [...]

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Stocks start the week in sell mode

By doris | Published: July 18, 2011

Full Story at Money.CNN NEW YORK (CNNMoney) — Stocks sold off sharply Monday and gold prices rose, as worries about Europe’s debt crisis and uncertainty over the U.S. debt ceiling kept investors on edge. The Dow Jones industrial average (INDU) sank 95 points, or 0.7%, to end at 12,385. The S&P 500 (SPX) fell 11 [...]

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Customer tries to cash bank check, ends up in jail

By doris | Published: July 9, 2011

Full Story at msnbc.com For 28-year-old Ikenna Njoku, what should have been the simple act of cashing a check turned into four days in jail and the loss of his car and job. A year ago Njoku, a construction worker, had just purchased his first home and qualified for a federal rebate for first-time home [...]

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Banks’ billion-dollar idea: Sell your shopping data

By doris | Published: July 6, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Banks have found a new revenue stream — and this time, it doesn’t involve hitting you up with a new fee. Many of the nation’s leading banks are selling information about their customers’ shopping habits: How much they spend, where they shop, what they buy. In turn, [...]

Also posted in Business, Financial, Sale | Leave a comment

Stocks: Best week in two years

By doris | Published: July 2, 2011

Full Story at Money.cnn.com NEW YORK (CNNMoney) — The fireworks came early on Wall Street. Stocks started the second half of the year firing on all cylinders Friday, posting the strongest week in two years, as fresh data boosted investor optimism about the state of the economy. After starting the day barely changed, the Dow [...]

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Wall Street rallies 4th day, gains in July seen

By doris | Published: June 30, 2011

Full Story at news.Yahoo.com NEW YORK (Reuters) – U.S. stocks ended a volatile quarter on Thursday with their biggest four-day rally since September as positive economic data and a temporary resolution of Greece’s debt crisis indicated further gains in July. Midwest business activity showed surprising strength this month, lifted by a jump in new orders, [...]

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Central bankers agree on bank capital surcharge plan

By doris | Published: June 25, 2011

Full Story atnews.Yahoo.com BASEL, Switzerland/LONDON (Reuters) – Global banking regulators have agreed on a proposal to slap an extra capital charge on the world’s biggest banks to make them safer by 2019. The surcharge is part of a series of regulatory reforms launched in response to the financial crisis, which forced countries worldwide into costly [...]

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Wall Street rebounds from four days of losses

By doris | Published: June 7, 2011

Full Story at msnbc.com NEW YORK — Traders are eagerly awaiting indications from Federal Reserve chairman Ben Bernanke that interest rate hikes aren’t likely anytime soon. The hope that Bernanke will make that clear in remarks scheduled for Tuesday afternoon is keeping stocks afloat. Stocks recovered some of their losses Tuesday after sliding for four [...]

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For 25% of retirees, savings are all gone

By doris | Published: May 24, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — After record job losses, falling home prices and devalued investment portfolios, the recession has taken a toll on many Americans’ financial well being. But retirees and those close to retirement, with little time left to rebuild their savings, face particular hardship. One in four Americans age 50 [...]

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Foreclosure flood may not have crested yet

By doris | Published: May 22, 2011

Full Story at msnbc.com If the national foreclosure crisis were a baseball game, we would be in about the top of the sixth. And we may have to go to extra innings. Since the housing market peaked in 2006, some 6.5 million homes have been lost to foreclosure. There are likely another 4.3 million more [...]

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U.S. hits debt ceiling

By doris | Published: May 16, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — It’s official: The U.S. government hit the debt ceiling on Monday, Treasury Secretary Timothy Geithner told Congress. Geithner said he would have to suspend investments in federal retirement funds until Aug. 2 in order to create room for the government to continue borrowing in the debt markets. [...]

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Get some ‘vroom!’ without breaking the bank

By doris | Published: April 17, 2011

Full Story at msnbc.com Think you’ve got to spend big if you want a fast car? Think again. Plenty of affordable cars will do zero to 60 mph in under six seconds; some are one-third the price of racers from Porsche or BMW. The Ford Mustang GT, the Ford Mustang coupe and the rally-style Subaru [...]

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$513 million paid in undeserved homebuyer credits

By doris | Published: April 16, 2011

Full Story at  msnbc.com WASHINGTON — The Internal Revenue Service has paid out more than a half-billion dollars in homebuyer tax credits to people who probably didn’t qualify, a government investigator said Friday. Most of the money — about $326 million — went to more than 47,000 taxpayers who didn’t qualify as first-time homebuyers because [...]

Also posted in Government, Home, Investors, IRS, Tax | Leave a comment