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Mortgage Activity Down In Week

WASHINGTON, Sept. 8 (UPI) — The Mortgage Bankers Association says U.S. mortgage activity fell in the week ended Friday with mortgage rates also falling. Interest rates for 30-year, fixed-rate mortgages fell from 4.32 percent to 4.23 percent with points falling from 1.29 to 1.04. Rates for 15-year, fixed-rate contracts fell from 3.49 percent to 3.41 […]

FBI Raids Bankrupt Solar Company Near San Francisco

FREMONT, Calif., Sept. 8 (UPI) — The FBI declined to say what its agents were looking for Thursday when they searched offices of a bankrupt solar-panel company in the San Francisco Bay Area. A squad of agents armed with a search warrant and accompanied by agents from the Department of Energy showed up at the […]

SEC Halts Record Purging

WASHINGTON, Sept. 8 (UPI) — The Securities and Exchange Commission general counsel Mark Cahn has told SEC staff to stop destroying case records following accusations of illegal purging. Cahn sent a memo to staff informing them of the new policy in the wake of an accusation the SEC was illegally destroying records that could point […]

Top Office Turnover Steady In August

CHICAGO, Sept. 7 (UPI) — The total number of U.S. top corporate executive departures held steady in August, one celebrity notwithstanding, a private research group said Wednesday. In August, 104 chief executive officers left their jobs, either through resignation, job change, firing or job title elimination, consulting firm Challenger, Gray & Christmas said. The number […]

German Court OKs Help For Greece

BERLIN, Sept. 7 (UPI) — A constitutional court in Germany said it is legal for the country to participate in the international bailout efforts for other eurozone countries. The Federal Constitutional Court also said Germany’s Parliament at the committee level should be allowed more say in how bailouts are structured, The Wall Street Journal reported […]

Shopping Slow After East Coast Hurricane

WASHINGTON, Sept. 7 (UPI) — Retail sales receipts slid 0.7 percent in the week ending last Sunday, a U.S. trade group said Wednesday. In a weekly report pushed back a day due to the Labor Day holiday, the International Council of Shopping Centers said fewer consumers traveling during the holiday weekend could have resulted in […]

Bank Of Canada Holds Central Rate At 1 Percent

OTTAWA, Sept. 7 (UPI) — Continuing economic uncertainty in the United States and Europe led the Bank of Canada to announce Wednesday its central rate would remain at 1 percent. “The European sovereign debt crisis has intensified, a broad range of data has signaled slower global growth, and financial market volatility has increased sharply,” the […]

Canada To Probe U.S. Retail Pricing Gap

OTTAWA, Sept. 7 (UPI) — A Canadian Senate committee will investigate the practice of U.S. retailers charging more in Canada for the same goods, the Toronto Star reported. The newspaper saw a letter from Finance Minister Jim Flaherty in which he said he will ask the Senate Committee on National Finance to examine the pricing […]

Employment, Unemployment Data Unchanged

WASHINGTON, Sept. 2 (UPI) — Non-farm employment was unchanged in August and the unemployment rate held at 9.1 percent, the U.S. Bureau of Labor Statistics reported Friday. At 14.0 million, the number of unemployed persons essentially was unchanged in August and the 9.1 percent unemployment has shown little change since April, the Labor Department agency […]

Government Prepares To Sue Banks Over Mortgages

WASHINGTON, Sept. 2 (UPI) — The federal government will sue a dozen U.S. banks, charging they misrepresented the quality of mortgage securities sold in the housing bubble, insiders said. The Federal Housing Finance Agency lawsuits, expected to be filed soon in federal court, target Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among […]

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