Today (Tuesday), a federal judge ruled that Detroit is eligible for protection under Chapter 9 of the U.S. Bankruptcy Code, making the Detroit bankruptcy official. This is the biggest municipal bankruptcy in U.S. history.
The JPMorgan Chase & Co. (NYSE: JPM) $13 billion settlement finalized Tuesday tops the list of the biggest corporate fines ever in the United States.
Best Buy Co. Inc. (NYSE: BBY) and Toys “R” Us Inc. are the two latest retailers to announce that they will open their doors on Thanksgiving. Other retailers like Target Corp. (NYSE: TGT) have expanded their “Black Friday” hours this year.
If you want more evidence that the U.S. stock market is disconnected from the actual economy, you only need to look at its performance during the third-quarter earnings season.
This week, JPMorgan Chase & Co. (NYSE: JPM) agreed to a tentative $13 billion settlement over a government investigation into faulty mortgage loans the company sold to investors.
What most investors don’t realize is that the company has been involved in 10 other settlements in the last two and a half years. Here’s a rundown of JPMorgan’s bad behavior since 2011.
The $13 billion settlement between JPMorgan Chase & Co. (NYSE: JPM) and the federal government shocked markets this week, as the fines would be a record paid by a Wall Street institution.
According to reports, the sum will amount to approximately half of the company’s 2012 profits.
810,000 federal workers, give or take a few, were furloughed this week as Shutdown 2013 began. Those employees had to report to work to “prepare” for a shutdown, in many cases simply reporting, signing a form acknowledging the furlough, and leaving again.
This is a syndicated repost courtesy of Money Morning. To view original, click here. 9% of working-age people on Earth were unemployed, at least as of 2012. This number represents underemployment and unemployment in non-industrialized countries, as well. Things are tough all over, it seems, and not just in the United States. 1,426 billionaires are…
This is a syndicated repost courtesy of Money Morning. To view original, click here. Fed Chairman Ben Bernanke announced in a press conference this afternoon that the U.S. Federal Reserve will continue quantitative easing, the controversial bond buying program, for now. Chairman Bernanke expressed concern over rising borrowing costs and their effect on the economy,…
This is a syndicated repost courtesy of Money Morning. To view original, click here. Today’s FOMC meeting will kick off a two-day discussion of economic policy – and will leave unprepared investors confused… Both the FOMC policy statement and its economic and market projections will be released on Wednesday at 2 p.m. EDT and will…