Business News Stories
AP - A man accused of bilking elderly South Los Angeles residents out of their homes in a foreclosure scam is facing a potential life sentence in a rare use of California's three-strikes law for a white-collar crime.
AP - Sunoco Inc. has tapped former General Motors CEO Fritz Henderson to lead the energy spin-off it is forming early next year.
AP - H&R Block Inc. on Thursday said its fiscal first-quarter loss narrowed by 2 percent as it reduced staffing and other expenses.
Reuters - Google Inc is in talks with music labels on plans for a download store and a digital song locker that would allow its mobile users to play songs wherever they are as it steps up its rivalry with Apple Inc, according to people familiar with the matter.
AP - COMPANY: Pernod Ricard SA, Paris-based drink maker known for its anise-flavored aperitifs as well as Beefeater gin and recently acquired Absolut vodka reported its full-year earnings Thursday.
U.S. News & World Report - It may seem a bit strange to be talking about income taxes in September. There are, however, good reasons to think about taxes well before April 15. For starters, there are some big changes in the tax code that go into effect in 2011. Depending on your income tax bracket and investments, some simple planning now could save you a bundle later.
AP - RECORD LOWS: Mortgage rates fell to the lowest levels in decades for the tenth time in 11 weeks, mortgage buyer Freddie Mac said Thursday. The average rate for a 30-year fixed loan was 4.32 percent. The 15-year fixed loan hit 3.83 percent.
U.S. News & World Report - More than four years after real estate values peaked, the historic plunge in home prices remains fresh in the minds of mortgage lenders. After taking painful losses on delinquent home loans, banks have imposed tougher standards--such as increased credit scores and higher down payment requirements--on applicants of all stripes. And as investors fled for the hills, the exotic mortgage products that helped fuel the real estate boom have largely disappeared from the private market. But that doesn't mean all buyers need a big pile of cash to snag a home loan. ...
AP - PENDING HOME SALES RISE: The number of buyers who signed contracts to purchase previously occupied homes increased by 5.2 percent in July from June.
AP - Oil and gas representatives are voicing criticism about the first proposed changes to Wyoming's oil and gas leasing contract in nearly three decades, including a provision increasing royalties paid to the state.
Reuters - U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.
AP - Del Monte Foods Co. said Thursday that its fiscal first-quarter profit edged up 1.4 percent, but revenue softened on weakness in the consumer business and the company trimmed its expectations for revenue growth this year.
AP - July factory orders edge up as strong demand for aircraft offsets weakness in other sectors.
More - (AP)
AP - Teen retailer American Eagle Outfitters Inc. said Thursday that its August revenue in stores open at least a year rose 1 percent, about even with analyst estimates.
AP - Toronto-Dominion Bank, North America's sixth largest bank by branches, increased profit by 29 percent in the third quarter on a record quarter by its Canadian retail banking operations.
AP - German car exports kept growing in August as a healthier global economy fueled sales abroad, helping push up production, an industry group said Thursday.
AP - Discount retailer Target Corp. said Thursday sales of back-to-school and food items helped revenue in stores open at least a year rise 1.8 percent in August.
AP - A new Treasury Department program to give people without bank accounts faster access to their tax refunds will help some avoid costly short-term loans. But careless consumers could end up racking up fees and padding bank profits.
BusinessWeek - The job hunt came as a shock. The 23-year-old job seeker graduated in June from a good school -- Beijing University of Technology -- with a bachelor's degree in materials science, a subject he figured would appeal to employers. Yet he had to go through scores of interviews and comb the online job sites endlessly before landing a job at a local trading company. Happy ending? Barely. The pay, $368 a month, is meager by Beijing standards, so he has had to move back in with his parents and he's too ashamed about the outcome of his job search to give his name. ...