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US bank websites blocked by hackersUS bank websites of at least half a dozen large institutions have experienced surges and disruption of traffic over the past week. Islamists claim responsibility for blocking US bank websites, but analysts are skeptical.
US Postal Service defaults. Fate lies with Congress.US Postal Service defaults on $5.6 million payment to US Treasury. Having squeezed costs, postmaster general says future of US Postal Service depends on Congress.
Stocks stumble towards end of solid 3QStocks fell Friday in all industry groups in the S&P 500 except utilities. The biggest losses were in聽telecommunications and information technology聽stocks. But the big indices are still up 4 percent or more for three months.
BofA pays $2.43B in Merrill-Lynch lawsuitBank聽of聽America聽says it has agreed to pay $2.43 billion to settle a class-action lawsuit related to its acquisition of Merrill Lynch.聽Investors that bought or held聽Bank聽of聽America聽stock when the company announced its plans to buy Merrill Lynch claim that the bank made misleading statements about both companies' financial health.
US Postal Service to default on multi-billion dollar payment. Again.The US Postal Service to default on a $5.6 billion debt it can't afford to pay. The US Postal Service default is its second missed multi-billion dollar payment in just as many months.
Timothy Geithner pressures SEC to change money-market rulesTimothy聽Geithner聽is putting pressure on the Securities and Exchange Commission to overhaul its rules for money-market mutual funds. Geithner warned that without an overhaul to the money-market system, US financial stability would remain threatened.聽
RIM surprises market: More people are using BlackBerrysRIM stock surges 20 percent in after-market trading, reporting smaller-than-expected losses and gains in BlackBerry subscribers in emerging markets. But RIM's future hangs on delayed BlackBerry 10.
Asian markets cheer Spain's plans for reformAsian stocks edge up as debt-laden Spain unveils budget plans with sharp cuts in government spending. Euro and Japanese yen climb while dollar falls.
Stocks snap losing streakThursday was the best day for US stocks since Sept. 13, when Federal Reserve Chairman Ben Bernanke announced further steps by the central bank to speed the economic recovery.聽Stocks聽were also helped by speculation that the central bank of China will act soon to help the world's No. 2 economy.
Unemployment claims plunge to two-month lowUnemployment claims drop 26,000 to a level of 359,000, the lowest in nine weeks. At this level, unemployment claims typically point to a lower unemployment rate.
Student loan debt hits record 1 in 5 US householdsStudent loan debt has reached a record 1 in 5 US households,聽with the biggest burdens falling on the young and poor.聽Because of the sluggish economy, fewer college聽students聽than before are able to settle into full-time careers immediately upon graduation, contributing to the jump in student loan debt.
Coppertone settlement: 'False' sunscreen claims cost $3M to $10MCoppertone settlement has been reached by parent company Merck, bringing a decade-old lawsuit to a close. The lawsuit alleged that Coppertone made false claims about its sunscreen, and the Coppertone settlement will cost Merck between $3 million and $10 million in payouts.聽
GDP growth revised down to 1.3 percentGDP growth in the second quarter was even more sluggish than previously reported. Effects of drought on farms was the biggest factor for the GDP revision.
World markets recover as Spain, Greece brace for austerityTh mood in the financial markets improved slightly Thursday, though investors remained concerned about violent protests in Greece and Spain over planned austerity measures.聽Worries that the Spanish government is losing control continued to hurt that country's markets.
Flight attendants fight? No, a tiff. Jet still returns to airport.Flight attendants fight 鈥� verbally, anyway 鈥� causing a United plane to return to Raleigh and the flight attendants replaced. United to pay passengers for inconvenience.
NFL referee deal reached. Back to work ThursdayNFL referee deal is still up for a vote, but the union referees will be back officiating Thursday night's NFL game. The NFL referee deal frees the NFL from paying the referees' pensions, but includes generous 401(k) contributions and pay increases.聽
Europe unrest reverberates on Wall StreetA dip in home sales and unrest in Europe sent stocks sliding Wednesday,聽extending the longest losing streak for the S&P 500 since mid-July.聽European stocks had their worst day in months as unrest threatened to boil over in Greece.
Spain's troubles worsen, sparking new phase for euro crisisSpanish stock prices fall 3 percent Wednesday as Spain's bond rates rise above 6 percent and demonstrators take to the streets to protest anticipated cuts in government spending.
Bill Belichick fined $50,000 for ref grabBill Belichick, head coach for the New England Patriots, was fined $50,000 by the NFL for grabbing an official's arm. In addition to Bill Belichick, three other NFL coaches have been fined for their conduct towards replacement officials.聽
California governor paves way for driverless carsGov. Jerry Brown signed legislation Tuesday that will pave the way for聽driverless聽cars聽in California.聽Driverless cars use computers, sensors and other technology to operate independently, but allow humans to take control at any time.
