Economy

POLITICS: PennAve

Barney Frank dismisses Elizabeth Warren's favorite idea

By Joseph Lawler | 07/23/14 05:39 PM

Appearing Wednesday before the House Financial Services Committee he used to head, former Rep. Barney Frank, the architect of the 2010 Dodd-Frank financial reform law, dismissed the idea of reinstating Glass-Steagall, the Depression-era law that split investment banks from commercial banks that...
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S&P 500 ekes out record high as earnings roll in

By KEN SWEET | 07/23/14 05:32 PM

NEW YORK (AP) — The stock market eked out a record high Wednesday, as investors weighed positive earnings from the technology industry against disappointing news from Boeing and other companies. Biotechnology stocks were among the largest gainers. Among big tech names, Apple's earnings topped...
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GM profit 2Q falls 85 pct. on recall costs

07/24/14 12:29 PM

DETROIT (AP) — Recall costs chopped $1.5 billion from General Motors' bottom line in the second quarter, cutting its net income by 85 percent. The automaker, which is in the midst of the worst recall crisis in its history, posted a net profit of $190 million, or 11 cents per share. A year ago...
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