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Huelskamp Unappeased By Buffett’s Numbers

WASHINGTON, Oct. 12 (UPI) — Billionaire investor Warren Buffett revealed Wednesday he paid 17.4 percent of his $39.8 billion taxable income to the federal government in 2010. In a letter sent to Republican Rep. Tim Huelskamp of Kansas, Buffett said his adjusted gross income for 2010 came to $62.8 billion, CNNMoney reported. The letter was […]

Robert Galvin Of Motorola Dead At 89

CHICAGO, Oct. 12 (UPI) — Robert Galvin, who led Motorola from 1959 to 1990, guiding the firm through an era of tremendous growth, has died at age 89, his family said. The Chicago Tribune reported that Galvin “passed away,” Tuesday night without listing a specific cause of death. Galvin took over the company from his […]

Consumer Confidence Low, But Rising

RAMSEY, N.J., Oct. 11 (UPI) — U.S. consumer confidence showed pessimism deeply ingrained at the start of October, a private research group said. But the pessimism was not quite as entrenched as it was in September, as the IBD/TIPP Economic Index rose 0.4 points or 1 percent to 40.3 in October, Investor’s Business Daily said […]

China Detains Walmart Employees

CHONGQING, China, Oct. 11 (UPI) — The Chongqing Public Security Bureau in China said police had detained several Walmart employees in connection with a case of fraudulent pricing. Police did not disclose the number of detained employees, The Wall Street Journal reported Tuesday. A spokesman for the bureau, Pu Jian, said detention is likely to […]

N.Y. Comptroller: 10,000 Finance Jobs At Risk

ALBANY, N.Y., Oct. 11 (UPI) — New York state Comptroller Thomas DiNapoli said the financial district of Wall Street could see 10,000 jobs erased by the end of 2012. DiNapoli also predicted bonuses would shrink in 2011, The Wall Street Journal reported Tuesday. For the state, smaller bonuses mean a contraction of tax revenues. Among […]

Shopping Off In Week Of Divided Weather

WASHINGTON, Oct. 11 (UPI) — U.S. sales receipts dropped slightly week-to-week in the period ending Saturday, a national trade group said Tuesday. The International Council of Shopping Centers said sales dropped 0.1 percent in the week, but rose 2.8 percent compared to the same week of 2010. “The pace of shopper footfall was weaker for […]

Greece Set For Next Bailout Tranche

BRUSSELS, Oct. 11 (UPI) — Financial authorities in Europe said Greece was cleared for the next tranche, or installment, out of its $150 billion international bailout loan. “The next tranche will be available, possibly, at the start of November,” said the troika, which is made up of the International Monetary Fund, the European Commission and […]

Banks Fail In Missouri, Minnesota

WASHINGTON, Oct. 8 (UPI) — A bank in Missouri and another in Minnesota were closed by regulators Friday, raising the number of U.S. bank failures this year to 76. The Wall Street Journal reported the Missouri Division of Finance closed Sun Security Bank of Ellington in the state’s first 2011 bank failure. Under a purchase-and-assumption […]

U.S. Seeking Foreign Investment Increase

WASHINGTON, Oct. 10 (UPI) — The United States is setting its sights on $1 trillion in new foreign investment over five years, sources told The Wall Street Journal. The goal is to increase foreign investment by 15 percent over the past 10-year average, which is $174 billion per year. To reach the target, the Obama […]

Sonic CEO: It Was Right To Fight Order

WASHINGTON, Oct. 10 (UPI) — Sonic.net Inc. Chief Executive Officer Dane Jasper said opposing a secret government order to turn over client information was the “right thing to do.” The order involved a government investigation of Jacob Applebaum, a volunteer with WikiLeaks, who has not been charged with any crime. Fighting the order was “rather […]

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