Analysis: Layoffs, food prices slowing the U.S. economy

June 10, 2011

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JP Morgan Chase CEO Dimon challenges Bernanke to loosen regulations

June 10, 2011

[expand title=Read More] Source “JP Morgan Chase Chief Executive Officer Jamie Dimon’s public questioning of Federal Reserve Chairman Ben S. Bernanke on bank regulatory costs has “thrown down the gauntlet” in the industry’s increasingly aggressive fight to curb higher capital requirements and other rules. “They threw out the first ball, now can they play the game?” said […]

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Ford announces the C-Max Energi, its electric car hatchback

June 10, 2011

[expand title=Read More] Source “The new van-like compact car, due out next year, will be available in the U.S. in two hybrid versions. One of those, the C-Max Energi, will be a plug-in hybrid with capabilities similar to the Chevy Volt but with a much longer total driving range. The other version, the C-Max Hybrid, will be […]

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Regulators warn investors of “reverse-merger” companies

June 10, 2011

[expand title=Read More] Source “Regulators publicly warned investors Thursday about the risks of “reverse merger” companies, in the wake of accounting questions and investor losses at some Chinese companies that have used such transactions to list on U.S. exchanges. The Securities and Exchange Commission issued an investor bulletin that said “there have been instances of fraud […]

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Treasury Slams Mortgage Modifications by Big Banks

June 10, 2011

[expand title=Read More] Source “Based on a recent audit, Bank of America, Wells Fargo and JP Morgan-Chase will lose government financial incentives — which reach at least $1,000 for a permanent loan modification — until they improve, the Treasury Department said. They received $24 million in such incentives last month. None of the 10 largest servicers participating in the […]

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Microsoft loses U.S. Supreme Court patent case

June 10, 2011

[expand title=Read More] Source “Microsoft Corp suffered a defeat on Thursday when the US Supreme Court upheld a record USD 290 million jury verdict against the software giant for infringing a small Canadian company’s patent. The justices unanimously agreed with a US appeals court ruling that went against the world’s largest software company in its legal […]

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Debt Limit Deadline Approaches but Washington argues over Taxes

June 10, 2011

[expand title=Read More] Source ”   In a 2 1/2-hour meeting, the sixth one between the administration and a handful of top lawmakers, Biden and Treasury Secretary Timothy Geithner made a pitch for more revenue, but Republicans resolutely oppose anything that could be called a tax hike. Both sides hope to pass the measure well before an […]

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Obama meets with African country Gabon’s President Ali Ben Bongo

June 10, 2011

[expand title=Read More] Source “U.S. President Barack Obama has urged Gabon’s President Ali Ben Bongo to root out corruption and protect human rights in the West African country. Mr. Obama met with Mr. Bongo at the White House Thursday, despite questions about alleged corruption in Mr. Bongo’s family and government. The White House said Mr. Obama […]

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Panetta: Libyan rebel council may include extremists

June 10, 2011

[expand title=Read More] Source ”   President Obama’s nominee for secretary of Defense, Leon Panetta, told the Senate that he is concerned that some leaders of Libya’s opposition may be extremists, even as officials disclosed that U.S. aid for those fighting Gaddafi will fall far short of what the rebel group says it needs Panetta, currently the CIA director, told […]

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Director of the National Counterterrorism Center is resigning

June 10, 2011

[expand title=Read More] Source “Michael E. Leiter, the head of the nation’s main counterterrorism center, is resigning after nearly four years in a job that has increasingly focused on detecting and thwarting smaller and more diverse terrorist plots. Mr. Leiter, 42, one of the few senior national security officials from the Bush administration that President Obama kept […]

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$100,000 Reward offered in case of Missing Indiana Student

June 10, 2011

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Justice Department case against NSA leaker collapses

June 10, 2011

[expand title=Read More] Source Federal prosecutors withdrew the felony charge against a former National Security Agency official accused of providing a journalist with classified documents. Under the plea deal reached with prosecutors, former NSA official Thomas Drake has agreed to plead guilty in federal court on Friday to a single misdemeanor count of exceeding authorized use […]

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