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Consumer Confidence Backslides

NEW YORK, Oct. 25 (UPI) — Consumer confidence in the United States fell in October after a slight reprieve in September, the Conference Board said Tuesday. After hitting a two-year low in August, September showed slight improvement. For October, however, the index slid from September’s reading of 46.4 to 39.8. The index uses 1985 as […]

EU Finance Leaders Cancel Meeting

WARSAW, Poland, Oct. 25 (UPI) — European finance leaders have canceled a critical meeting in advance of Wednesday’s summit in Brussels, the European Union said. A statement release from Poland, which holds the presidency of the European Union, said, “Further work at the level of ministers of finance will be conducted based on the outcome […]

Fannie, Freddie Debtors In The Hole May Now Refinance

The Home Affordable Refinance Program (HARP) will apply to borrowers of Fannie Mae and Freddie Mac, and some forecasters estimate that up to 1 million borrowers will use the program.

British Parliament To Consider EU Exit

LONDON, Oct. 22 (UPI) — A Conservative lawmaker in Britain said it is time to reconsider the country’s relationship with the European Union, despite warnings of economic chaos. Parliament member David Nuttall has proposed a referendum that would have Britain decide to keep its EU membership intact, renegotiate its terms or quit the organization altogether, […]

Cigna Agrees To Buy HealthSpring For $3.8 Billion

NEW YORK, Oct. 24 (UPI) — U.S. insurance company Cigna Corp. said it agreed to buy HealthSpring Inc. of Nashville for $3.8 billion. HealthSpring’s strength is in the Medicare Advantage program in which Medicare is provided through private firms rather than the government, The Wall Street Journal said. The firm has 340,000 Medicare Advantage members […]

States Owe Feds For Unemployment Relief

MILWAUKEE, Oct. 24 (UPI) — Twenty-seven states owe the government more than $33 billion that was borrowed to pay unemployment benefits in recent years, data shows. At the top of the list, California owes $8.6 billion. Alabama, at the bottom of the list, owes $23 million, the Milwaukee Journal Sentinel reported Monday. Behind California, Michigan […]

Federal Loan Refinancing Program Revised

WASHINGTON, Oct. 24 (UPI) — Federal regulators in Washington Monday announced changes to the Housing Affordable Refinance Program that previously met with limited success. Edward DeMarco, acting director of the Federal Housing Finance Agency, which oversees the Federal Home Loan Mortgage Corp., known as Freddie Mac, and the Federal National Mortgage Association, known as Fannie […]

Olympus Says It Is Unaware Of Probe

TOKYO, Oct. 24 (UPI) — A spokesman for Olympus said the Japanese camera and medical equipment company was unaware the FBI was investigating its 2008 purchase of Gyrus Group. Olympus is well known as a producer of digital cameras, but the bulk of its revenues comes from its more obscure medical equipment business, The New […]

Panasonic To Cut Back Television Business

TOKYO, Oct. 21 (UPI) — Officials at Panasonic Corp. in Japan said several thousand workers would be let go as it scales back on its faltering television business. Sources told Japanese newspaper Yomiuri Shimbun the company cited appreciation of the yen as one of the reasons its television business is not doing well. Panasonic has […]

Second Summit On Eurozone Planned

PARIS, Oct. 21 (UPI) — European leaders said a second summit on the eurozone crisis will be next week as France and Germany disagree on key issues to resolve the currency’s problems. A joint statement by French and German ministers Thursday said all aspects of the planned “global and ambitious response” to the eurozone crisis […]

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