As stock and bond markets across the world tumbled on fears about Italy and Spain, it emerged that police acting on orders from prosecutors had raided the Milan offices of rating agencies Moody’s and Standard & Poor’s as part of continuing investigations into their role in the recent financial turmoil. Italian shares plunged on Thursday, [...]
By Parija Kavilanz Doctors, hospitals, nursing homes and pharmacies might not get paid for products and services if the federal government defaults on its debt next week. Some physician groups, anticipating this scenario, have started to warn their members that a possible default means their Medicare paychecks may not get mailed. The American Academy of Family Physicians, [...]
By Brandon Griggs Maybe the cash-strapped U.S. government should start selling iPads. According to the latest statement from the U.S. Treasury, the government had an operating cash balance Wednesday of $73.8 billion. That’s still a lot of money, but it’s less than what Steve Jobs has lying around. Tech juggernaut Apple had a whopping $76.2 billion in [...]
WASHINGTON (Reuters) - President Barack Obama pressed his case on Saturday for achieving deficit reduction, in part by ending tax breaks and singling out hedge fund managers, oil companies and billionaires to take the hit. Obama is locked in a dispute with Republicans over how to bring down the deficit as part of a deal to raise the debt [...]
NEW YORK — A law enforcement official tells The Associated Press that the accuser in the New York City sex assault case against a former International Monetary Fund leader has lied about circumstances surrounding the alleged attack. The official also says prosecutors also believe Dominique Strauss-Kahn’s accuser has lied about her background. The official is [...]
A new federal program is offering aid with a sweet kicker: It doesn’t need to be repaid. For the roughly four million homeowners who have fallen behind on their mortgage payments, the federal government is offering yet another remedy: free money to catch up on their loans. The effort, called the Emergency Homeowners Loan Program, [...]
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