All Economy
General Motors to buy back US-owned stake. US to lose billions?General Motors stake owned by the US treasury will be sold over the coming year, assuring a multibillion-dollar loss for the federal government. General Motors will buy back $5.5 billion in shares, and the Treasury will have to sell the rest of the stock at a high price in order to break even on the $50 billion bailout GM received.聽
Fiscal cliff could impact low-income families the mostThe fiscal cliff debate thus far leaves the most vulnerable families quite close to the edge, Maag writes.
Despite easy credit, a decline in late car paymentsAmericans are keeping up with their car payments even as credit once again becomes easier to find, Read writes.
Stocks sink as budget deadline nearsStocks closed down on聽Wall聽Street聽as a year-end deadline nears with no deal in hand to cut the US government's budget deficit.聽Telecommunications stocks and health care stocks fared the worst.
What changing the consumer price index would mean for taxpayers
A mixed November for home constructionSingle family home construction permits dropped 0.2 percent from October to 565,000 single family units. Single family home construction permits聽remained 68.58 percent below the peak in September 2005.
UBS to pay $1.5 billion in fines over LIBOR rate scandalThe Swiss bank agreed to the fine Wednesday, settling with US, British, and Swiss regulators. In the case, UBS employees tried to rig the London Interback Offered Rate, or LIBOR, using different currencies.
For cheap travel, avoid souvenirsA truly special souvenir doesn鈥檛 need to cost very much, and the best ones are rarely found in an overpriced souvenir shop, Hamm writes.
Fitch Ratings to US: Fix 'fiscal cliff' or risk credit downgradeFitch Ratings, a leading credit ratings agency, warned Wednesday that the US is likely to lose its top-notch debt rating if lawmakers cannot agree to a solution that prevents the economy from going over the 'fiscal cliff' at the end of 2012. Fitch Ratings called the resolution of the fiscal cliff and an increase in the debt ceiling 'pressing issues.'
Loner leaves $7.4 million in gold coins to long-lost cousinLoner leaves $7.4 million in gold coins to his first cousin, a San Francisco-area teacher who was named his sole heir. The $7.4 million fortune come from a wide variety of Austrian gold coins, some that date as far back as the 1890s.聽
The toughest obstacles in the budget debate? Entitlements.Somehow we must find ways to gain control over spending on Medicare and Medicaid, Penner writes.
Investors shun gun stocks in wake of Sandy HookGun company stocks Sturm, Ruger & Co. and Smith & Wesson Holding Corp聽fall for the third straight day. Private-equity firm Cerberus Capital Management says it will sell Freedom Group Inc., which makes the rifle used in the Sandy Hook massacre.
Is Ireland's economy on the rebound?Ireland has in the recent year come to diverge in a positive way from Portugal, Spain, Italy and Greece, Karlsson writes.聽
Stocks gain on budget deal optimismStocks climbed Tuesday聽on renewed hope for a budget deal that will stop the US from going over the fiscal cliff.聽Stocks slumped after the presidential election on concern that a divided government would struggle to reach an agreement.
Children need financial role modelsThe media tends to shine their light on expensive items or people with exceptionally high incomes who can afford to spend in a way that鈥檚 inaccessible to most of us, Hamm writes.
Good signs for housing market in DecemberThe housing market聽showed continued improvement in December with the National Association of Home Builders' latest Housing Market Index rising to 47.
McDonald's open on Christmas? Yes, burger chain tells owners.McDonald's is urging its US restaurant owners to remain open on Christmas Day, a major break for a company that usually closes on major holidays. The decision comes after a successful Thanksgiving Day for McDonald's.聽- Cerberus private equity firm to sell stake in firearms makers after Newtown shootingCerberus聽said Tuesday that it would sell its stake in the Freedom Group, which owns the Bushmaster rifle brand, as well as Remington and other gun makes.
Dick's Sporting Goods suspends rifle sales nationwideDick's Sporting Goods聽chain says it's suspending sales of modern rifles nationwide because of Friday's school shooting in Connecticut.
Robert Griffin III: Redskins QB's jersey breaks sales recordsRobert Griffin III Redskins jersey has set the all-time sales record for NFL jerseys since the league started keeping track 鈥� and with a Redskins playoff berth possibly looming, he is bound to sell many more. What makes Robert Griffin III so marketable?聽
