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U.S. SEC poised to adopt reforms for money market funds

a shared story    57 minutes ago
WASHINGTON (Reuters) - U.S. regulators are expected to adopt rules on Wednesday that force "prime" money market funds used by large institutions to float their share price.  



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Daimler revenue up; profit drops after 1-time gain

a shared story    57 minutes ago
BERLIN (AP) -- Automaker Daimler AG is reporting a 6 percent increase in second-quarter revenue and confirming its full-year targets, though net profit declined sharply after being boosted last year by the sale of a stake in Airbus' parent company.... 



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On brink of financial collapse, state lawmakers struggle with budget passage

a shared story    283 weeks 2 days 5 hours 2 minutes ago
Lawmakers continued struggling to pass a budget this afternoon after working nearly around the clock to end a three-month impasse that has brought California to the brink of fiscal collapse. An all-night legislative session failed to yield enough Republican votes for the spending plan, as GOP legislators...(more) 



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Puerto Rico debt crisis headed for U.S.-style bankruptcy resolution

a shared story    1 hour 57 minutes ago
(Reuters) - Momentum is building toward a deal that would make painful losses inevitable for investors holding about $20 billion in bonds issued by Puerto Rico's highway, water and electricity authorities even as some big U.S. mutual funds launch a legal battle to squelch a new...(more) 



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Shanghai police detain five in McDonald's, Yum-linked China food safety probe

a shared story    1 hour 57 minutes ago
SHANGHAI (Reuters) - Shanghai police said they have detained five people in an investigation into a Chinese-based supplier of foreign brands including KFC-parent Yum Brands Inc, McDonald's Corp and coffee chain Starbucks Corp over allegations the firm supplied its clients with stale meat.  




Bikes help commuters get around gas prices

a shared story    315 weeks 16 hours 14 minutes ago
High gasoline prices are fueling bicycle sales, and on some days Michael Hall's blood pressure. At least three times a week, Hall pedals to his job in Hollywood from his home in northern Glendale, a 25-mile round-trip commute that is faster on two wheels than four. "It's definitely...(more) 



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New Questions on Health Law as Rulings on Subsidies Differ

a shared story    5 hours 57 minutes ago
One federal appeals court panel ruled that the federal government could not subsidize coverage bought by people on the federal insurance exchange. Another said the opposite. 




Wholesale prices soar in June; sales are sluggish

a shared story    314 weeks 17 hours 37 minutes ago
The economy showed the depth of its twin problems on Tuesday, slow growth and rising inflation, as the nation wrestled with a teetering financial system, a slumping dollar and rising prices for food and fuel. The Labor Department reported that soaring costs for gasoline and food pushed...(more) 




In Silicon Valley, more homeowners are spending more than half their income on housing

a shared story    302 weeks 2 days 13 hours 46 minutes ago
Laura Meneses made the same fateful choice that thousands of local home buyers have made since 2004: She decided to spend most of her family's income on housing. Over the last four years, the number of Santa Clara County homeowners who spend over half their income on...(more) 



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Price to PepsiCo for Not Being in Court: $1.26 Billion

a shared story    246 weeks 6 days 4 hours 4 minutes ago
What's the cost of not showing up to court? For PepsiCo Inc., it's a $1.26 billion default judgment. A Wisconsin state court socked the company with the monster award in a case alleging that PepsiCo stole the idea to bottle and sell purified water from two...(more) 




As Finances Tighten, Furloughs Give Way to Pay Cuts

a shared story    207 weeks 2 hours 12 minutes ago
The furloughs that popped up during the recession are being replaced by a highly unusual tactic: actual cuts in pay. 




Jobs outlook weak as state's unemployment rate hits 6.9% in June

a shared story    313 weeks 3 days 23 hours 49 minutes ago
California's jobless rate crept ahead Friday as experts saw weakness spreading into new areas of the economy. For months, job losses were concentrated in the state's housing industry. But with June's increase of one-tenth of a percentage point to 6.9%, it was evident that a broader downturn...(more) 



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