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A landmark $25 billion settlement with the nation's top mortgage lenders was hailed by government officials Thursday as long-overdue relief for victims of foreclosure abuses. But consumer advocates countered that far too few people will benefit.
China's trade suffered its biggest decline since the 2008 crisis in January - a new sign of weak global demand and a slowing domestic economy.
Lehman Brothers Holdings Inc. and its creditors are suing several units of Citigroup Inc. to recover $2.5 billion the failed investment bank transferred to a backup account at Citi months before seeking bankruptcy court protection.
The Commodity Futures Trading Commission is looking at high-frequency traders to gauge their importance in the markets and consider possible new rules for them.
In what's shaping up to be a strong Valentine's weekend at the nation's theaters, four heartfelt newcomers are hoping to feel the love from smitten audiences.
Total U.S. money market mutual fund assets fell $820 million to $2.657 trillion for the week that ended Wednesday, the Investment Company Institute said Thursday.
Just hours after Greece gave in to painful new job and spending cuts, European ministers declared Thursday that Athens didn't go far enough and demanded more within a week in exchange for a euro130 billion ($170 billion) bailout to stave off bankruptcy.
The Securities and Exchange Commission is drafting proposals to further strengthen money-market mutual funds, two years after it approved an initial set of new rules in the wake of the financial crisis.
A fight is breaking out between the money-market mutual fund industry and federal regulators. Whatever the outcome, investors will question whether they can continue to rely on money funds as a safe place to keep cash readily accessible.
The mortgage settlement that government officials announced Thursday is intended to help victims of foreclosure abuses that followed the housing bust.
As if bankrupt American Airlines didn't have enough problems, along comes consumer advocate Ralph Nader, who's really steamed that for a flight Saturday to Dallas/Fort Worth Airport, the only way for a non-frequent flyer to get an aisle seat was to pay a full $2,680 fare instead of the $700 price he'd already paid.
GREECE BANDS: U.S. stocks rallied in the morning after Greece announced it had reached a deal to cut costs and stave off a looming debt default. But stocks gave up much of their gains by the end of the day, and analysts warned that Europe still faces plenty of problems.
The stock market finally got a deal from Greece, but it didn't produce much of a rally. Greece says it has agreed to cut spending to satisfy some of its lenders. That's a key condition for Greece to avoid a default next month that could spook world financial markets.
California and Southern farmers renewed their case Thursday for some kind of an agricultural guest-worker program, but they're sailing against the wind.
Louisiana's property insurer of last resort has offered to settle a dispute over the slow handling of claims from hurricanes Katrina and Rita in 2005 for up to $80 million.
EDITORS:
SALES DRAGGIN': Car sales in the world's biggest auto market fell 24 percent in January from a year earlier. The China Association of Automobile Manufacturers said that 1.16 million passenger cars were sold in January, down from a monthly record 1.5 million a year earlier.
Wheat prices fell Thursday after the government predicted global inventories would reach a record high by summer.
The average rate on the 30-year fixed mortgage stayed at a record low this week, providing some added incentive for those looking to buy a home or refinance.
Music mogul Russell Simmons wants New York's governor to pull the plug on milk from cows.
Here are the leading candidates to succeed Alan Mulally as Ford's CEO. Mulally, 66, says he has no plans to retire. But he acknowledges that the carmaker has a succession plan for every top management position.
HOLD STEADY: Vodafone Group PLC, the world's largest mobile communications company, says revenue held steady in the final three months of 2011 as double-digit gains in India and Turkey were offset by slumps in Italy and Spain.
TAX NIP: A one-time tax hit sent profits at drinks company Diageo PLC's down 20 percent in the last six months of 2011, despite rising income following a strong performance in emerging markets.
The euro jumped to a 2-month high against the dollar Thursday after Greek leaders agreed on a cost-cutting plan that should prevent the country from defaulting on its debt.
Greece's political leaders on Thursday agreed to steep government cutbacks and economic reforms to qualify for a euro130 billion ($170 billion) bailout from other countries in Europe and around the world.