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Banks, N.Y. Reach Deal On Loan Robo-Signings

NEW YORK, Sept. 1 (UPI) — Three banks and New York regulators reached a deal in which the banks agreed to rectify sloppy practices used in signing foreclosure documents. Under the agreements, the three banks — Goldman Sachs Group, its Litton Loan Servicing business and Ocwen Financial Corp. — agreed to stop “robo-signing,” the practice […]

50 Banks Get Small Business Loan Funding

WASHINGTON, Sept. 1 (UPI) — The U.S. Treasury Department announced 50 more banks received $767 million from the Small Business Lending Fund to increase loans to small businesses. The latest additions raise to 130 the number of banks that received a total of $1.8 billion in loans, the department said in a news release. The […]

Amazon Offers California Jobs, Centers

SACRAMENTO, Sept. 1 (UPI) — Internet retailer Amazon.com offered to build distribution centers and hire 1,000 workers if California drops, even temporarily, its sales tax collection law. The proposal was made in the form of draft legislation offered during a meeting between Amazon lobbyists and representatives of companies belonging to the California Retailers Association, the […]

Justice Department Sues To Stop AT&T, T-Mobile Merger

WASHINGTON, Aug. 31 (UPI) — The U.S. Justice Department filed suit in Washington to block a proposed AT&T merger with T-Mobile Wednesday, saying the combination would hurt customers. At a press conference, Deputy Attorney General James Cole said “We all reap the benefits of this incredible technology,” referring to wireless telecommunications. However, he said, “we […]

Jobs Up, Layoffs Down In August

ROSELAND, N.J., Aug. 31 (UPI) — Payroll company Automatic Data Processing said Wednesday the private sector added 91,000 jobs to the economy in August. The firm also reported a revised figure for July that pegs job gains for that month at 109,000, rather than the 114,000 previously reported. The figure for August came in about […]

Factory Orders Rose In July

WASHINGTON, Aug. 31 (UPI) — U.S. factory orders rose 2.4 percent in July, far higher than economists expected, the U.S. Census Bureau reported Wednesday. Economists had expected factory orders to rise 1.5 percent. Orders have risen for two of the past three months. In July, orders jumped by $10.5 billion to $453.2 billion. Excluding transportation […]

Mortgage Activity Down In Week

WASHINGTON, Aug. 31 (UPI) — The Mortgage Bankers Association says U.S. mortgage activity fell in the week ended last Friday as mortgage costs were little changed. Interest rates for 30-year, fixed-rate mortgages fell from 4.39 percent to 4.32 percent with points rising from 0.88 to 1.03. Rates for 15-year, fixed-rate contracts fell from 3.56 percent […]

Nature Sent Shoppers Toward The Basics

WASHINGTON, Aug. 31 (UPI) — U.S. shoppers spent money on staples as an earthquake and hurricane altered the retail week, a trade group in Washington said. Retail sales rose marginally in the week ended last Saturday, the International Council of Shopping Centers said. Sales rose 0.1 percent from the previous week and 3 percent from […]

Home Values Saved One Demolition At A Time

CLEVELAND, Aug. 29 (UPI) — U.S. lenders say protecting a home is one thing and protecting home values another, so they are calling in bulldozers to make their point. “We want to make loans on an ongoing basis, and to do so, we need stable to rising home values,” said Russ Cross, vice president of […]

Target’s Canada Expansion Creating Jobs

TORONTO, Aug. 30 (UPI) — U.S. retailing giant Target launched an online search for thousands of Canadian employees for its launch of 135 new stores in 19 months. Target Canada, with headquarters west of Toronto in Mississauga, opened the www.target.ca/careers Web site Monday, featuring openings for mostly senior positions such as human-resource managers and business […]

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