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Eurozone Contracts, 2nd Recession Feared

LUXEMBOURG (UPI) — The eurozone slid toward a second recession in nearly four years as the economy contracted after stagnating the previous quarter, a European Union agency said. April-to-June gross domestic product for the 17 countries that use the euro fell 0.2 percent from the first quarter’s zero growth, the Eurostat statistics agency said. Compared […]

Wells Fargo Settles Case For $6.5 Million

NEW YORK (UPI) — U.S. regulators said Wells Fargo had agreed to a $6.5 million settlement to end a case against it alleging poorly managed toxic securities. The Securities and Exchange Commission said the bank and a broker had sold bundled securities in the early months of the bursting housing bubble that the bank simply […]

Tiny Fingerprint Scanner Unveiled

SPARTANBURG, S.C., (UPI) — U.S. company Integrated Biometrics has unveiled what is billed as the world’s smallest and fastest mobile fingerprint scanner with FBI certification. Integrated Biometrics, a manufacturer of fingerprint biometric technologies, said its new product — Watson-Mini — weighs less than 3 ounces and measures about 2.4×2.36×1.33 inches. The FBI has certified that […]

Radiation Detection Product Line Expanded

EDGEWOOD, Md., (UPI) — Smiths Detection will provide a full line of radiation detection equipment and identification products in partnership with Mirion Technologies. Smiths Detection markets the RadSeeker, a handheld radiation detector and identifier that can distinguish radiological and nuclear threats and eliminate “false positives” produced by naturally occurring radiation or other legitimate everyday radiological […]

Penney Downplays Dismal Q2

PLANO, Texas (UPI) — Executives at J.C. Penney said the venerable U.S. department store chain’s strategy is working despite a bruising second-quarter performance this year. Penney reported a larger-than-expected loss for the second quarter and saw its debt downgraded by Moody’s Friday, a move company leaders told reporters was not a sign of major trouble. […]

Discounts May Mean New Kindles Are Coming

LOS ANGELES (UPI) — Tech analysts say this week’s deep discounting of the Amazon Kindle DX reader could be a sign the company will launch a new model as early as next week. Amazon knocked $110 off the price of the Kindle DX as its “Deal of the Day” along with other specials related to […]

FDIC Sues Banks Over Mortgage Securities

NEW YORK (UPI) — Federal regulators sued 11 major banks for allegedly swindling Colonial Bank by selling the Alabama lender $388 million in mortgage-backed securities. The defendants, including Wells Fargo, Citigroup and J.P. Morgan Chase, were accused by the Federal Deposit Insurance Corp. of making misleading statements about the strength of the mortgage borrowers and […]

Study: Shoppers Go For Giant Bargain Size

MIAMI (UPI) — Poor arithmetic skills often lead shoppers to make bad choices, researchers at the University of Miami say. Researchers from the university’s school of business tracked 600 consumers during the two-year study, the South Florida Sun-Sentinel reported. Michael Tsiros, a marketing professor who led the project, said shoppers tend to believe that a […]

Spirit Airlines Sued Over Passenger Fees

MIAMI (UPI) — A Florida lawsuit contends Spirit Airlines misled its customers by allegedly tacking a fee on ticket prices and implying it was a government mandate. The class-action suit filed last week by a Miami law firm contends the “passenger usage fees,” added to ticket purchases were simply meant to bring in more revenue […]

U.S. Government Ran $70 Billion Deficit In July

WASHINGTON (UPI) — The U.S. government had a $70 billion budget deficit in July and a shortfall below $1 trillion in 10 months of the fiscal year, the Treasury Department said. July’s figure was $60 billion less than the shortfall posted in the same month a year ago, MarketWatch.com reported Friday, aided by lower spending […]

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