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Argentine cash controls bring bargains, headaches
The Brazilian visitors gawk in wonder as they stroll past shop windows along touristy Florida street in the Argentine capital. The jackets, the shoes — they're all so cheap when your purse is stuffed with black-market money. Visitors who turn to the streets rather than the banks to swap their ...
St. Louis woman admits role in $600M funeral scam
A St. Louis County woman has admitted her part in a Ponzi-like scam that prosecutors say bilked customers buying prearranged funerals out of $600 million. Sharon Nekol Province, 69, of Ballwin, Mo., pleaded guilty Monday to six federal counts, including mail fraud, wire fraud and misappropriation of insurance premiums. Sentencing ...
Oil prices climb above $98 before US Fed meeting
The price of oil climbed back above $98 a barrel Tuesday, a day after briefly touching a nine-month high, as traders awaited the start of a Federal Reserve policy meeting. By early afternoon in Europe, benchmark oil for July delivery was up 37 cents to $98.14 a barrel in electronic ...
Zimbabwe 'Cattle Bank' takes deposits that moo
William Mukurazita's deposit at the bank has four legs and moos. Zimbabwe's first "Cattle Bank" has just opened its books in a unique kind of banking where owners bring in their animals as collateral against cash loans. For many rural poor in this southern African country once wracked by world-record ...
Reversing himself, US judge vacates fraud sentence
A judge is throwing out a 10-year prison term he gave to a former supervisor of a phony check-cashing scheme in Cedar Rapids. U.S. District Judge Mark Bennett says the 2010 sentence for Isom Rogers of Davenport was flawed because Rogers' attorney provided inadequate representation. He ordered a resentencing. Rogers ...
Maine gov vetoes Medicaid expansion for 2nd time
Maine Gov. Paul LePage on Monday vetoed a bill to accept federal dollars to expand health care coverage to 70,000 more Mainers, saying he fears the state will ultimately bear the financial burden for the new enrollees. The Democratic-controlled Legislature last week approved a retooled proposal to expand Medicaid coverage ...
Investors guess Fed's actions, push stocks higher
Investors on Wall Street are playing a guessing game with the Federal Reserve. On Monday, they guessed that the central bank will continue trying to prop up the economy and sent stocks higher. The major stock indexes all rose about 1 percent in early trading and stayed there for most ...
World looks to Bernanke to clarify stimulus plans
Is the era of ultra-low interest rates nearing an end? When he takes questions this week after a Federal Reserve meeting, Chairman Ben Bernanke will confront investors' fears that rates are headed higher. Financial markets have been gyrating in the 3½ weeks since Bernanke told Congress the Fed might scale ...
Starboard says Smithfield sale undervalues company
One of Smithfield Foods Inc.'s largest shareholders says a $4.72 billion takeover bid from China's largest meat producer falls short of what the company would be worth if sold off piece by piece. In a letter to the Smithfield, Va.-based pork producer's board of directors on Monday, the New York-based ...
Man arrested in Tuscaloosa credit union holdup
Tuscaloosa police say they've arrested a man in a holdup at a credit union. Officers arrested 23-year-old Keondrae Devon Long of Tuscaloosa early Monday. He is charged with robbery and receiving stolen property from a previous case. Police say Long is suspected in a robbery at the Tuscaloosa Teachers Credit ...
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