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June 19, 2013

More news, business Articles

  • Correction: Dish-Sprint story

    06/19/13 03:02 PM

    ENGLEWOOD, Colo. (AP) — In a story June 18 about Dish Network Corp.'s announcement that it will not submit a revised bid to purchase Sprint Nextel Corp., The Associated Press reported erroneously that Softbank's competing bid for Sprint falls short of Dish's. In fact, the two offers are not...

  • Pruitt: DOJ broke rules in phone records seizure

    06/19/13 03:02 PM

    WASHINGTON (AP) — The Justice Department violated its own rules when it secretly seized records for thousands of phone calls to and from journalists for The Associated Press as part of a leak investigation, the head of the company said Wednesday. AP President and CEO Gary Pruitt told a...

  • Banks fall short in helping struggling homeowners

    06/19/13 03:02 PM

    WASHINGTON (AP) — Homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation's top mortgage servicers, a report said Wednesday. Such delays can plunge borrowers deeper in debt. Joseph A. Smith, Jr., the independent...

  • Food stamp cuts key to farm bill's fate in House

    06/19/13 03:02 PM

    WASHINGTON (AP) — Prospects for House passage of a new farm bill could turn on the level of food stamp cuts as key backers scrambled Wednesday to secure support for the five-year, half-trillion dollar measure. The House planned to begin voting Wednesday on 103 amendments to the bill,...

  • Bernanke: Fed could reduce bond buys this year

    06/19/13 03:01 PM

    WASHINGTON (AP) — Chairman Ben Bernanke says the Federal Reserve could scale back its $85 billion in monthly bond purchases later this year if the economy continues to improve. Bernanke says the reductions would occur in "measured steps" and that the program could end by the middle of next...

  • IRS draws new criticism over $70M employee bonuses

    06/19/13 03:01 PM

    WASHINGTON (AP) — Already reeling from a pair of scandals, the Internal Revenue Service is drawing new criticism over plans to hand out millions of dollars in employee bonuses. The Obama administration has ordered agencies to cancel discretionary bonuses because of automatic spending cuts,...

  • FedEx 4Q profit drops as priority services lag

    06/19/13 03:01 PM

    DALLAS (AP) — FedEx Corp.'s fourth-quarter profit fell 45 percent as international customers traded down to less-expensive delivery options and the company spent heavily on restructuring. FedEx said 3,600 employees will take voluntary buyouts and nearly half of them have already left. The...

  • Cuomo, legislative leaders announce casino deal

    06/19/13 03:01 PM

    ALBANY, N.Y. (AP) — Gov. Andrew Cuomo and legislative leaders agreed Wednesday to authorize four upstate New York casinos designed to drive jobs and tourism to the long economically distressed area. The agreement will allow Las Vegas-style resort casinos in the Southern Tier near Binghamton,...

  • %byline(By TOM MURPHY

    06/19/13 03:01 PM

    Still a little hazy about the health care overhaul? You have plenty of company. About half the people surveyed earlier this spring by the nonpartisan Kaiser Family Foundation felt they didn't have enough information to understand how the law will affect their family. Among those with an annual...

  • Text of the Federal Reserve's statement Wednesday

    06/19/13 03:01 PM

    WASHINGTON (AP) — Here is the statement the Federal Reserve released Wednesday after its two-day policy meeting: Information received since the Federal Open Market Committee met in May suggests that economic activity has been expanding at a moderate pace. Labor market conditions have shown...


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