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Asia stocks extend losses after big sell-off
Asian stocks continued to retreat Friday after being routed the day before by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary stimulus. Japan's Nikkei 225 index, which plummeted more than 7 percent Thursday, reversed a big morning gain and shed 0.7 percent to 14,391.74 ...
Asia stock markets edge up after big sell-off
Asian stock markets staged a mild recovery Friday, a day after being routed by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary stimulus. Japan's Nikkei 225 index, which plummeted more than 7 percent Thursday, bounced back a sizeable 2.8 percent to 14,892.57. South Korea's ...
Sears reports bigger-than-expected 1Q loss
It was another ugly quarter for Sears Holdings Corp. The beleaguered department-store chain reported a steeper-than-expected loss for its first quarter on slumping sales. It also announced that it is considering selling its protection-agreement business in an ongoing effort to raise cash as it struggles to reverse its fortunes. The ...
Health reform plans, pricing released in Calif.
Californians are finally getting to see what "Obamacare" means for them. President Barack Obama's health care overhaul made a big leap Thursday when California's health insurance exchange announced the plans and the prices that will be offered to those buying individual coverage. Some of the state's largest individual health insurers, ...
Hobby Lobby tests birth-control coverage mandate
In the most prominent challenge of its kind, Hobby Lobby Stores Inc. asked a federal appeals court Thursday for an exemption from part of the federal health care law that requires it to offer employees health coverage that includes access to the morning-after pill. The Oklahoma City-based arts-and-crafts chain argued ...
Stocks edge lower as investors reassess Fed fears
Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower. U.S. markets plummeted immediately after the opening bell Thursday following a global slump prompted partly by an unexpected slowdown in Chinese manufacturing. Concern that the Federal Reserve might ease back on its ...
Business Highlights
___ Why worry? Less aid by Fed would point to recovery WASHINGTON (AP) — Investors have grown nervous that the Federal Reserve will scale back its efforts to boost the U.S. economy sooner than many expected. Yet almost lost in the anxiety that gripped the stock market this week is ...
ECB official: New bank authority 'indispensable'
European Central Bank President Mario Draghi said it was "imperative" that Europe's leaders create a new agency with powers to restructure busted banks in order to help the region leave its economic and financial crisis behind it once and for all. In the text of a speech to be delivered ...
US: Lock up ex-Michigan justice for bank fraud
Federal prosecutors are urging a judge to send a former Michigan Supreme Court justice to prison for bank fraud. The U.S. government filed a sentencing memo in the case against Diane Hathaway ahead of a hearing next Tuesday in Ann Arbor federal court. Prosecutors say her crime was "coordinated" and ...
Charlotte man pleads guilty to securities fraud
A Charlotte man has pleaded guilty to carrying out an $8.9 million Ponzi scheme. Stephen Maiden pleaded guilty Thursday to securities fraud and was released on bond. The 40-year-old Maiden faces a maximum penalty of 20 years in prison and a $250,000 fine. The U.S. Attorney's Office in Charlotte says ...
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