April 7, 2014
For investors, a volatile stock market passed a worrisome milestone on Monday. The market logged its longest losing streak in two months, and extended a sell-off that began last week. After biotechnology and internet stocks pulled the market lower on Friday, it was companies that sell non-essential goods and services that dragged on the market to start the week. Concerns about earnings and sales drove declines. CarMax slumped after the used car dealer reported lower net income, and Mattel dropped on concerns about demand for big-name toys.
April 6, 2014 |
WASHINGTON - When you're raking in tens of billions of dollars in profits by helping credit-elite borrowers buy homes, couldn't you lighten up on fees a little for everyday folks who'd also like to buy? That's a question increasingly being posed to government-controlled home mortgage giants Fannie Mae and Freddie Mac and their federal regulators. Though most buyers are unaware of the practice, Fannie and Freddie - by far the largest sources of mortgage money in the country - continue to charge punitive, recession-era fees that can add thousands of dollars to consumers' financing costs.
April 2, 2014 |
NEW YORK - The elderly woman had stopped by the Jewish Community Center in the Canarsie area of Brooklyn and was shuffling away, leaning heavily on her walker, when a young man punched her in the head as he walked past, knocking her to the ground. When she returned to the center for help, the staff called for an ambulance, vigilant that this might have been another example of the "knockout game," a social media trend that had young people punching out random individuals on the street last year.
March 30, 2014 |
WASHINGTON - Federal regulators twice declined to investigate faulty ignition switches in General Motors Co. cars that led to 13 deaths - even though one official found "a pattern" of problems, according to a new congressional report. The report, released Sunday, added fresh details to a controversy that has shaken the revitalized automaker. Already under fire for lengthy delays in recalling the vehicles, GM also was accused in the report of allowing the defective part to be installed in millions of vehicles after testing showed it did not meet the company's own specifications.
March 28, 2014 |
Profit at Tribune Co., the parent of the Los Angeles Times and other newspaper, radio and television properties, fell sharply last year amid a further decline in newspaper advertising and a significant drop in earnings at its broadcast division. The Chicago media company reported net income of $241.6 million for the year, down 43% from $422.5 million in 2012. Total operating revenue fell 8% to $2.9 billion, with a 6% decline in publishing and an 11% drop in broadcasting. For the fourth quarter, revenue dropped $97 million, or 11%, to $773 million, partly because the quarter included one fewer week than the previous year's final three months.
March 20, 2014 |
Has the disappearance of Malaysia Airlines Flight 370 nearly two weeks ago had an effect on travel to the Asian country? It depends on who you talk to. A Germany-based hotel booking website says it has seen a significant drop in searches among U.S. users looking for hotels in Malaysia since the flight disappeared. But Malaysian tourism officials say they have seen no decline in travel to the country. The Boeing 777, carrying 239 people, disappeared March 8, sparking a massive search across miles of open sea and theories such as terrorism and alien abduction.