Eight months ago, when approached by investors to repay a portion of their losses in mortgage bonds, Bank of America CEO Brian Moynihan said no way. He said that his firm had followed the rules and that he was going to fight this one to the end. The outcome of that “fight” may indicate that the big banks are far from paying their tab …
Walmart’s New Loss Leader: Cheap Gas
It’s a classic retail technique: Attract shoppers by lowering prices on certain items, with the idea that once customers are in the store, they’ll buy full-priced items as well. The product being discounted in Walmart’s new …
Inside the Fed’s Vault: $1 Billion Worth of Unused Coins
In the basement of a Baltimore vault the size of a soccer field, 1 billion dollar coins are just sitting there. Thanks, Congress.
Getting Ready for a Black Swan
The biggest stock market surprise could be an unexpected economic rebound.
Will Germany-China Ties Hurt the U.S.?
The chummy pow wow between Chinese Prime Minister Wen Jiabao and German Chancellor Angela Merkel in Germany this week seemed like all peas and gravy. Fourteen economic deals? Great. Twenty-two cooperation agreements? Even better. Any business is good business in a fragile global economy, right? Not so much. Growing ties between …
5 Secrets For Scoring Cheap Airline Tickets
Hunting for cheap airline tickets this summer? Good luck, says airline industry consultant Robert Mann. Carriers have trimmed their schedules, making “fire sales” less frequent, and the high cost of fuel that’s causing you pain …
How America can avoid a Greek tragedy
The world economy dodged a bullet today. Parliamentarians in Greece voted in favor of a painful package of austerity measures aimed at reducing the government’s yawning budget deficit, controlling its ballooning debt and convincing the rest of the euro zone to continue to support the country with rescue funds. The vote paves the way …
Why New Jersey Needs Cash
New Jersey, one of the richest states in the nation, is nearly broke.
Starting next week the Garden State could be unable to pay its bills unless it secures a short-term loan of $2.25 billion, which it is reportedly close to doing with JPMorgan Chase. New Jersey’s fiscal year starts July 1st. Usually it has a fair amount of money left …
MoviePass.com: $50 a Month to Go to the Movies As Many Times As You Want
Especially during the hot and humid days of summer, wouldn’t it be nice to be able to go to the movies in icily air-conditioned comfort as much as you want—without paying for tickets each and every visit? A new startup allows …
Your Credit Card Data Is Probably at Risk
Hackers are getting smarter when it comes to stealing your personal account information. The recent data breach at Citi — which turned out to affect some 80 percent more customers than initially reported and led to $2.7 million …
It’s a Deal: Two-For-One Smoothies, Lemonade, Frappes at McDonald’s
Follow this link to print out a coupon for buy one, get one free Frappes, Frozen Strawberry Lemonades, or Real Fruit Smoothies at McDonald’s. The coupon is valid through July 31, 2011.
Turning 65: Taking Care of Prescription Drug Coverage
After 23 years of covering — and giving advice about — Medicare, a veteran journalist wades into the system herself. Part four of a 5-part series.
