By Bloomberg News | 02/26/14 09:33 AM
JPMorgan Chase & Co. and Wells Fargo & Co. are leading a shift in how banks account for their bond investments after a $44 billion plunge in value exposed a potential drain on capital under new rules.
02/26/14 09:20 AM
TALLAHASSEE, Fla. — Gov. Rick Scott, weighed down by lackluster poll numbers and a Republican Legislature intent on pursuing its own contentious reforms, appears content to keep it simple as he heads into the 2014 session. Months before he will ask voters to re-elect him for another term,...
By Associated Press | 02/26/14 09:18 AM
The price of oil edged above $102 a barrel Wednesday as investors tried to assess the strength of U.S. demand with the approach of warmer weather.
By Brian Hughes | 02/26/14 06:10 AM
President Obama on Wednesday will travel to Minnesota to push Congress to approve $302 billion-worth of infrastructure projects over the next four years, while outlining a new $600 million grant program to create jobs repairing roads, bridges and transit systems.
By Diana Furchtgott-Roth | 02/25/14 06:19 PM
As President Obama pushes to increase the minimum wage to $10.10 an hour, supporters continue to mischaracterize its effects. Despite a Congressional Budget Office report showing that 500,000 low-skilled people could lose their jobs by 2016 due to a higher minimum wage, some insist that...
By Lisa Ruhl | 02/25/14 05:54 PM
President Obama on Tuesday announced two new manufacturing hubs designed to put America on the forefront of technology.
02/25/14 05:30 PM
The stock market drifted between small gains and losses throughout the day Tuesday, then headed steadily lower in the last hour of trading. Investors found some solace in strong results from Home Depot and Macy's. The enthusiasm was not enough, however, to offset an unexpectedly steep decline in...
By Joseph Lawler | 02/25/14 05:20 PM
Robots aren't coming for our jobs, but they're probably lowering our wages. That's the takeaway from a new survey of top academic economists conducted by the Initiative on Global Markets Forum, affiliated with the University of Chicago's Booth School of Business.
02/25/14 05:15 PM
JPMorgan Chase plans to eliminate 8,000 jobs this year as its mortgage business shrinks and the giant bank aims to control costs at its branches. About half of those job cuts had already been announced. JPMorgan Chase now plans to cut more jobs — about 3 percent of its workforce of 251,000...
By Bloomberg News | 02/25/14 05:08 PM
Treasuries rose and the Standard & Poor's 500 Index retreated after touching an intraday record Monday on signs U.S. consumer confidence is flagging. The yen gained amid concern a weaker Chinese yuan will hurt growth while natural gas led commodities lower. Yields on 10-year Treasuries...
02/25/14 05:00 PM
NEW YORK (AP) — Stocks were unable to find any momentum on Tuesday. The market drifted between gains and losses throughout the day, then headed steadily lower in the last hour of trading. Investors found some solace in strong results from Home Depot and Macy's. The enthusiasm was not enough,...
By Bloomberg News | 02/25/14 02:05 PM
The Senate probably will delay until late March a vote on a proposal to raise the U.S. minimum wage to $10.10 an hour, said bill sponsor Senator Tom Harkin, an Iowa Democrat. The delay until senators return March 24 from a week-long break provides more time for labor unions to organize support...
By Bloomberg News | 02/25/14 01:27 PM
Consumer confidence fell more than forecast in February as growing concern about the U.S. economy's direction outweighed improving perceptions of its current state. The Conference Board's index decreased to 78.1 from a revised 79.4 in January that was weaker than initially estimated, the New...
By Joseph Lawler | 02/25/14 01:06 PM
A Tokyo-based exchange called Mt. Gox suspended trading and went offline Monday as evidence appeared to suggest that it was insolvent and unable to repay customers with accounts worth in the hundreds of millions.
By Bloomberg News | 02/25/14 12:57 PM
The biggest U.S. banks and insurance companies would have to pay a quarterly 3.5 basis-point tax on assets exceeding $500 billion under a plan to be unveiled this week by the top Republican tax writer in Congress. The proposal by Rep. Dave Camp, chairman of the House Ways and Means Committee,...
By Paul Bedard | 03/09/14
By Charlie Spiering | 03/09/14
By Joel Gehrke | 03/08/14
By Philip Klein | 03/06/14
By Joel Gehrke | 03/08/14