07/29/14 09:00 AM
GENEVA (AP) — Switzerland's biggest bank, UBS, reported Tuesday a 15 percent rise in second-quarter profit, driven by its core wealth management business, and disclosed it was part of a group of financial companies being investigated over alternative trading systems called "dark pools." UBS...
07/28/14 05:45 PM
SAN FRANCISCO (AP) — Top California regulators communicated often and enthusiastically with executives at Pacific Gas & Electric Co., even offering unsolicited advice on handling the media while they presided over a case to decide how much the utility should pay for a deadly explosion in a San...
07/25/14 08:30 AM
SAN FRANCISCO (AP) — A former FBI employee and his wife have pleaded guilty to bank fraud, admitting that they scammed two financial institutions out of more than $80,000. The U.S attorney's office says 61-year-old Charles Espinel and his wife, 58-year-old Jeannette Espinel, entered their...
By Kelly Cohen | 07/24/14 03:48 PM
American Soybean Association was given $34.4 million in federal funds in 2009 to try to jumpstart soybean farming in Afghanistan, according to the government watchdog over American work there.
07/24/14 02:15 PM
WASHINGTON (AP) — Morgan Stanley has agreed to pay $275 million to settle U.S. civil charges that it misled investors about risky mortgage bonds it sold ahead of the 2008 financial crisis. The Securities and Exchange Commission announced the settlement Thursday with the Wall Street bank. The...
07/24/14 01:15 PM
WASHINGTON (AP) — After spending nearly $300 million on a new computer system to handle disability claims, the Social Security Administration still can't get it to work. And officials can't say when it will. Six years ago, Social Security embarked on an aggressive plan to replace outdated...
07/23/14 09:00 PM
WASHINGTON (AP) — Six years ago the Social Security Administration embarked on an aggressive plan to replace outdated computer systems overwhelmed by a growing flood of disability claims. Nearly $300 million later, the new system is nowhere near ready and agency officials are struggling to...
07/23/14 07:30 PM
WASHINGTON (AP) — Standard & Poor's said Wednesday that regulators have told the rating agency they are considering taking civil enforcement action against it over ratings it gave to six deals in 2011 involving securities tied to commercial mortgages. S&P's parent McGraw Hill Financial Inc....
07/23/14 03:45 PM
WASHINGTON (AP) — Regulators have voted by a narrow margin to end a longtime staple of the investment industry — the fixed $1 share price for money-market mutual funds — at least for some money funds used by big investors. The idea is to minimize the risk of a mass withdrawal from the...
07/23/14 01:30 PM
NEW YORK (AP) — The politically connected former CEO of a prominent New York City charity was sentenced to prison Wednesday for helping to steal more than $9 million from the anti-poverty organization. William Rapfogel, who once headed the Metropolitan Council on Jewish Poverty, will serve a...
By Luke Rosiak | 07/22/14 05:55 PM
Senate Majority Leader Harry Reid rarely makes time to travel back to Nevada and listen to the voters who sent him to Washington, according to a Washington Examiner review of Senate disbursement records.
07/21/14 06:45 PM
NEW YORK (AP) — A Florida widow awarded $23.6 billion in the death of her chain-smoking husband on Monday called the massive verdict a message to Big Tobacco, even though she likely won't see much if any of the money. The punitive damages — $23,623,718,906.62, to be precise — almost...
By Richard Pollock | 07/21/14 01:42 PM
House Financial Services Committee Chairman Jeb Hensarling is demanding "full, unredacted" emails and financial records from the Consumer Financial Protection Bureau about the exploding costs for its headquarters building renovation.
By Kelly Cohen | 07/18/14 02:30 PM
As many of four out of five buildings the U.S. Army has built for the Afghan military, at a cost of $1.6 billion, face "significant fire hazard." The Corps says the Afghan soldiers are fit enough to run outside if there's a fire.
By Kelly Cohen | 07/16/14 04:44 PM
Department of Defense officials are giving two cargo planes worth more than $100 million to Afghanistan's air force, even though they may not be needed.
By Philip Klein | 07/28/14
By Paul Bedard | 07/28/14
By Byron York | 07/26/14
By Mark Tapscott | 07/28/14
By David M. Drucker | 07/28/14