Articles filed under Finance

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  • Jim Novak

    Wheaton entrepreneur suggests to start planning, saving for college earlyFeb 11, 2013 12:00 AM
    The key to planning for college is to start saving early and know what you're doing. We talk to the owner of College Funding International in Wheaton.

     
  • A house is for rent an for sale in Portland, Ore. Experts say owning rental housing can pay off even as market recovers.

    6 tips on buying, renting a home for extra income Feb 10, 2013 12:00 AM

     
  • Pedestrians walk on the Atlantic City N.J. Boardwalk on Wednesday, a day before New Jersey Gov. Chris Christie vetoed a bill that would have allowed Internet gambling in his state. Christie said he would sign a future bill that sets a 10-year trial period for Internet gambling.

    Casinos saturating market Feb 8, 2013 12:00 AM
    Atlantic City, the New Jersey resort that ruled the East Coast market for three decades after the first casino opened in 1978, is floundering after six years of declining revenue as a result of losing business to casinos in neighboring states.

     

  • Initial public offerings scheduled to debut next week Feb 8, 2013 12:00 AM

     
  • A Boeing 787 jet that has been at Meacham International Airport in Fort Worth, Texas for about a month while being painted for China Southern, takes off Thursday.

    Boeing warns that 787 deliveries could slip Feb 8, 2013 12:00 AM
    The world’s fleet of 50 787s has been grounded since Jan. 16. Boeing and investigators are trying to figure out why one aircraft battery caught fire and another one smoldered and forced an emergency landing.

     
  • Michigan Republican Gov. Rick Snyder announces an expansion of the state’s Medicaid health care program in Lansing, Mich. Once largely united in resisting the Obama administrationís new health reform overhaul, Snyder became the sixth GOP governor in the past two months to join a growing number of Republican governors now buying into parts of the system as the financial realities of their states’ medical costs begin to counterbalance the fierce election politics of the issue.

    In a switch, GOP governors back expanding Medicaid Feb 8, 2013 12:00 AM
    Once largely united in resisting the Obama administration’s new health care overhaul, a growing number of Republican governors are now buying into parts of the system as the financial realities of their states’ medical costs begin to counterbalance the fierce election politics of the issue.

     
  • Traders Peter Tuchman, left, and Kevin Lodewick work Friday on the floor of the New York Stock Exchange.

    S&P 500 hits five-year high, extends rally Feb 8, 2013 12:00 AM
    The S&P 500 rose 8.54 points to 1,517.93, closing 0.3 percent up for the week. The index is at its highest since November 2007 and has advanced for six weeks, the longest streak of gains since August.The Dow Jones industrial average rose 48.92 points, or 0.4 percent, to 13,992.97. The Nasdaq composite climbed 28.74 points, or 0.9 percent, to finish the week at 3,193.87.

     
  • Members of the U.S. Navy Ceremonial and Guard Company stand Friday during an Armed Forces Farewell Ceremony to honor outgoing Defense Secretary Leon Panetta in Arlington, Va. The Pentagon’s announcement this week of its intent to seek a 1 percent raise for the military in 2014 effectively set a cap for a 2014 civilian raise. In no recent year has the civilian raise exceeded the increase for military personnel.

    Obama to pitch 1 percent pay hike for federal workers Feb 8, 2013 12:00 AM
    Obama will propose a 1 percent pay increase in the administration’s fiscal 2014 budget plan, which is expected in mid-March.

     

  • Year of the snake promises calmer HK market Feb 6, 2013 12:00 AM
    As the Year of the Snake slithers into sight, investors should take comfort that the reptile's traditionally negative effect on stock markets probably won't be so big this year, according to the astrological predictions of a Hong Kong brokerage.CLSA Asia-Pacific Markets released its annual "feng shui" index on Wednesday ahead of the Chinese lunar new year, which begins Feb. 10. The report is based on the signs of the Chinese zodiac and features lighthearted predictions for financial markets, property and celebrities. Feng shui is the Chinese practice of arranging objects and choosing dates to improve luck.

     

  • EU summit to debate austerity budget, tough cuts Feb 6, 2013 12:00 AM
    Many European Union leaders will push for a tough austerity budget at their summit this week but the EU parliament insists it is ready to reject a deal which curtails common spending on growth and employment. On the eve of Thursday's summit, EU President Herman Van Rompuy said that `'for the first time ever - there will be a real terms cut compared to the current budget."

     
  • People walk by a branch of Royal Bank of Scotland (RBS) in the City of London.

    RBS hit with $600 million LIBOR fine Feb 6, 2013 12:00 AM
    RBS joins Barclays of the U.K. and UBS of Switzerland to have been found to have rigged the London interbank offered rate, or LIBOR. This is the rate that banks use to lend money to each other and provides the basis for trillions of dollars in contracts around the world, including mortgages, bonds and consumer loans.

     
  • Trader Brandon Barb, right, works on the floor of the New York Stock Exchange Wednesday.

    Stocks little changed as earnings fail to inspire Feb 6, 2013 12:00 AM
    The Dow Jones industrial average rose 7.22 points to 13,986.52 on Wednesday, after trading slightly lower for most of the day. The Standard & Poor's 500 rose 0.83 point to 1,512.12. The Nasdaq composite was three points lower at 3,168.48.

     
  • A line of Boeing 787 jets are parked Tuesday at Paine Field in Everett, Wash.

    United cuts 787 from February schedule Feb 6, 2013 12:00 AM
    The airline says it has replaced its six 787s with other planes through the end of February. The 787s were grounded by the government last month.

     

  • Visa’s fiscal 1Q net income jumps 25% Feb 6, 2013 12:00 AM
    The payments processing company is also expanding a program to buy back its stock, Visa said Wednesday.

     
  • Victor Pena of Flag Enterprises steam-cleans a floor in a home in Massapequa, N.Y.

    Home Depot plans 14% more seasonal hiring Feb 6, 2013 12:00 AM
    Home Depot is adding workers to run cash registers and work in the garden and other departments this spring as Lowe's Cos. boosts seasonal hiring by 13 percent. Analysts estimate that Atlanta-based Home Depot, which has about 331,000 workers, will report a 10 percent rise in fiscal fourth-quarter sales, the biggest quarterly gain since 2007.

     
  • This combination of file photos shows from left: Penny Pritzker, a long-time Obama ally and big-money fundraiser from Chicago; Tom Perez, the assistant U.S. attorney general for civil rights and former secretary of Maryland’s Department of Labor, Licensing and Regulation; and John Berry, the current director of the U.S. Office of Personnel Management and a former senior official at the Interior Department. He is the highest ranking openly gay official in the government. The three have been speculated as potential replacements for cabinet positions in the Obama administration. Obama is said to be looking at women, Latinos and openly gay candidates for top slots at the departments of Commerce, Labor and Interior, and for his own White House budget office.

    Obama said close to choosing Pritzker for Commerce Secretary Feb 6, 2013 12:00 AM
    Penny Pritzker, whose family built the Hyatt Hotels Corp. chain, would replace acting commerce secretary Rebecca Blank, an economist who took over for John Bryson after he resigned last June for health reasons.

     
  • Attorney General Eric Holder speaks at the Justice Department in Washington Tuesday. The U.S. government accused Standard & Poor’s of inflating ratings on mortgage investments to boost its bottom line, taking aim at a key player in the run-up to the financial crisis.

    U.S. sues S&P over pre-crisis mortgage ratings Feb 5, 2013 12:00 AM
    The U.S. government says Standard & Poor's knowingly inflated its ratings on risky mortgage investments that helped trigger the 2008 financial crisis. The credit rating agency gave high marks to mortgage-backed securities because it wanted to earn more business from the banks that issued the investments, the Justice Department alleges in civil charges filed in federal court.

     

  • Madigan commends federal government suing S&P Feb 5, 2013 12:00 AM
    Illinois Attorney General Lisa Madigan says the federal lawsuit against Standard & Poor's echoes a lawsuit she's already filed.

     

  • JPMorgan confronting BofA-led bond bears on loss: credit markets Feb 4, 2013 12:00 AM
    The biggest investment-grade bond loss in 14 months is bolstering Bank of America Corp.'s view that the unprecedented bull market in the notes is over. JPMorgan Chase & Co. disagrees. With bonds of the most-creditworthy borrowers from the U.S. to Europe and Asia losing 0.8 percent in January, Bank of America strategist Hans Mikkelsen cut his forecast for investment-grade debt returns last week, saying a sustained shift away from notes will cause borrowing costs to soar.

     
  • About 10 million seniors currently rely on others for daily care, such as help getting dressed, preparing meals or taking medication. That number will only increase as more of the nation’s 78 million baby boomers enter old age. Nearly 7 in 10 people will need some form of long-term care after turning 65, according to the Georgetown University Public Policy Institute.

    As America ages, senior care options flourish Feb 3, 2013 12:00 AM
    Nearly 7 in 10 people will need some form of long-term care after turning 65, according to the Georgetown University Public Policy Institute. "Nobody wants to go to a nursing home, it's the last resort," says James Firman, president of the National Council on Aging. "People want to stay in their own home, and if they can't, they want to go to a place where they can get assistance but that still feels homelike."

     
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