Money and Politics
U.S. Postal Service to Default on Second $5 Billion Retiree Payment
The U.S. Postal Service, on the brink of default on a second multibillion-dollar payment it can't afford to pay, is sounding a new cautionary note that having squeezed out all the cost savings within its power, the mail agency's viability now lies almost entirely with Congress.
Continue reading »Banking
MoneyGram Goes Mobile with Digital Wallet Money Transer App
People who regularly use money transfer services just got another digital leg up. MoneyGram International is partnering with Gemalto, the company behind the LinqUs Mobile Money digital wallet, to allow customers to do money transfers straight from their smartphones.
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B of A to Pay $2.43 Billion to End Lawsuit Over Merrill Lynch
Bank of America has agreed to pay $2.43 billion to settle a class-action shareholder lawsuit related to its acquisition of Merrill Lynch. Plaintiffs alleged that Bank of America and some of its officers made false or misleading statements about both companies' financial health ahead of the deal.
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U.S. Consumer Sentiment Gains to Four-Month High in Sept
U.S. consumer sentiment rose to its highest level in four months in September as Americans saw better prospects for the job market and economy, a survey released on Friday showed.
Continue reading »People
Bank of America VP Makes Bad Call of a Lifetime as an NFL Ref
You gotta call 'em like you see 'em, whether it's on the field or on the balance sheet. This is especially true if you're a Bank of America (BAC) vice president moonlighting as a National Football League referee. Such ...
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Higher Gas Costs Push U.S. Consumer Spending Up
Americans boosted their spending in August even though their income barely grew. Much of the spending increase went to pay higher gas prices, which may have forced consumers to cut back elsewhere.
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Wall Street Watch: BlackBerry Was Sweeter Than Expected
Reports of the death of Research In Motion may be premature. The company behind the once iconic BlackBerry smartphone posted better than expected quarterly results after Thursday's market close.
Continue reading »Technology
Sleek New Gadgets Have One Design Flaw: They Can't be Fixed
When buying tech devices, it's all about the latest and greatest: lighter, sleeker designs, more bells and whistles. But these design innovations aren't necessarily improvements -- in fact, they may even sacrifice durability, serviceability, and overall life span. Here's how.
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The Most Costly Mistake You Can Make With Your Bank Account
There's nothing more expensive than spending money you don't have. That, of course, is a lesson you might learn the hard way if you carry a balance on a high-interest credit card. But spending beyond your means can be a pricey proposition even with a debit card.
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U.S. Banks Hit with Biggest Cyberattacks Ever
Security experts say the recent "denial of service" cyberattacks on big U.S. banks were the largest ever recorded by a wide margin. Since Sept. 19, the banking websites of Bank of America Corp. (NYSE: BAC), J.P. Morgan ...
Continue reading »Economy
American Spirits: Mike Rowe Pours a Shot of Alcoholic Economic History
In How Booze Built America, Mike Rowe of Dirty Jobs mixes little-known history with economic analysis, puns and many tasty beverages to explain how the American story is really the tale of one nation's love affair with alcohol. Here are a few of Rowe's favorite high points.
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George Soros Bails Out the Democrats with $2 Million
Just when everyone thought that Soros was focusing on philanthropy and ignoring Democratic calls for cash because of a perceived snub, "The Man Who Broke The Bank of England" is back in action, rescuing the Democrats from an October in which they're severely outgunned financially.
Continue reading »Retirement
17 Steps to Make Your Money Last a Lifetime
Living to 100 is expensive, but taking time to run through this annual checklist will help you afford it. Here are 17 steps to a more secure financial life:
Continue reading »Economy
U.S. GDP Grew at 1.3% Rate in Second Quarter
The U.S. economy grew at a sluggish 1.3 percent annual rate in the April-June quarter, held back by the severe drought that reduced farm production in the Midwest. The growth rate was lowered from a previous estimate of 1.7 percent, the Commerce Department said Thursday.
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Campbell Closing Plants as Soup Consumption Falls
Campbell Soup Co., the world's largest soup maker, is closing two U.S. plants and cutting more than 700 jobs as it looks to trim costs amid declining consumption of its canned soups.
Continue reading »Economy
The Presidential Debates: What Do YOU Want to Hear?
Wednesday, Oct. 3 brings the first of the presidential debates, this one focused on the economy. So what do you hope to hear from Barack Obama and Mitt Romney? Does the debate matter to you? We want to hear what you think.
Continue reading »Insurance
Your Insurance Won't Cover That: Hidden Dangers in the Fine Print
When you buy insurance, what you're really buying is protection. A common mistake, though, is to overestimate what your policy really protects you from. Here are some examples to watch for in the fine print so that you don't make the costly mistake of assuming you're covered.
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Mattress Makers Tempur-Pedic and Sealy Get in Bed Together
There's some serious consolidation taking place in the bedding industry. Tempur-Pedic announced on Thursday that it will be acquiring rival Sealy by cashing out shareholders to the tune of $2.20 a share.
Continue reading »Cold drafts are uncomfortable, and can cost you a pretty penny when it comes to your heating bill. Here's how to warm up inside during the cooler months, without burning through your budget. Watch Video