Breaking Down the Mortgage Settlement: How Far Does $26 Billion Go?

More than $1 billion will go directly to homeowners, but the number of foreclosures is still expected to grow by 25 percent

2012-03-20

The big bank settlement over mortgage servicing abuses was finalized last week, detailing the agreement’s actual terms. Read the complete article

Fans, Entrepreneurs Among First Buyers of New iPad

"I don't think it's worth the price,” says one buyer who lined up, “but I guess I'm a victim of society"

2012-03-18

Peter Svensson and Dinesh Ramde The Associated Press

MADISON, Wis. (AP) -- Apple's latest iPad drew the customary lines of die-hard fans looking to be first and entrepreneurs looking to make a quick profit. Read the complete article

Freddie Asks for Just $146 Million in Aid After Better 4Q

Mortgage giant received $7.6 billion for all of 2011

2012-03-18

Derek Kravitz AP Business Writer

WASHINGTON (AP) -- Government-controlled mortgage giant Freddie Mac has requested just $146 million in additional aid after posting a smaller loss in the fourth quarter of last year. Read the complete article

Dow Breaks 13,000 for First Time Since '08 Crisis

Reaching threshold could influence more cautious investors to pump more money back into the stock market

2012-02-21

Christina Rexrode AP Business Writer

NEW YORK (AP) -- The Dow Jones industrial average crossed 13,000 on Tuesday for the first time since May 2008, when the Lehman Brothers investment bank was solvent, unemployment a healthy 5.4 percent and the worst of the Great Recession months ahead. Read the complete article

GM Records Its Highest Profit Ever: $7.6 Billion

Strong sales in US and China lead to big 2011, despite lost ground in fourth quarter

2012-02-16

Tom Krisher AP Auto Writer

DETROIT (AP) -- General Motors earned its biggest profit ever in 2011, but signs are emerging that its momentum could slow. Read the complete article

Obama's New Budget: Higher Taxes for the Wealthy

Plan would hack from deficit, but could cause future over-spending; GOP attacks it as class warfare

2012-02-13

Martin Crutsinger AP Economics Writer

WASHINGTON (AP) -- President Barack Obama unveiled a $3.8 trillion spending plan on Monday for 2013 that seeks to achieve $4 trillion in deficit reduction over the next decade but does little to restrain growth in the government's huge health benefit programs, a major cause of future deficits. Read the complete article

Kodak to Stop Making Cameras, Digital Frames

Company, which recently filed for bankruptcy protection, looks to once again refocus

2012-02-12

ROCHESTER, N.Y. (AP) -- Eastman Kodak Co. said Thursday that it will stop making digital cameras, pocket video cameras and digital picture frames, marking the end of an era for the company that brought photography to the masses more than a century ago. Read the complete article

Economy Grew 2.8 Percent in Q4, but Outlook Is Hazy

Jolt not enough to help unemployment, and signs point to slower growth ahead

2012-01-29

Martin Crutsinger AP Economics Writer

WASHINGTON (AP) -- The economy grew late last year at a pace that in normal times would suggest it's healthy. Read the complete article

Businessman at Center of Georgia Megachurch Probe Speaks Out

Ephren Taylor Jr. accused of urging congregation members to liquidate retirement savings

2011-10-24

Jeff Martin The Associated Press

ATLANTA (AP) -- A North Carolina businessman involved in an investment program at an Atlanta-area megachurch where former members claim they lost their retirement savings says he's taking action to "make things right." Read the complete article

Senate Unveils Next Piece of Obama Jobs Bill

Legislation would provide an immediate $50 billion investment in US infrastructure, but will face heavy opposition

2011-10-23

Andrew Taylor The Associated Press

WASHINGTON (AP) -- President Barack Obama's allies in the Senate on Friday unveiled the next piece of his failed $447 billion jobs measure to get a vote in the Senate: a $60 billion investment in infrastructure projects such as roads and bridges. Read the complete article