Business
Ex-Bear Stearns execs pay fines, accept bans
Two former Bear Stearns executives reached settlements Monday with federal regulators over civil charges they mislead investors about risky mortgage securities when the housing market was collapsing.
Business
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BUSINESS
Obama's new budget: Higher taxes for the wealthy
President Barack Obama unveiled a $3.8 trillion spending plan on Monday that seeks to achieve $4 trillion in deficit reduction over the next decade but does little to restrain growth in the government's huge health benefit programs, a major cause of future deficits.
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BUSINESS
Obama's budget: Government still getting bigger
Taking a pass on reining in government growth, President Barack Obama unveiled a record $3.8 trillion election-year budget plan Monday, calling for stimulus-style spending on roads and schools and tax hikes on the wealthy to help pay the costs. The ideas landed with a thud on Capitol Hill.
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BUSINESS
House GOP have backup on payroll tax
In an abrupt about-face, House GOP leaders announced Monday that they are willing to extend the two percentage point cut in the payroll tax through the end of the year and add the approximately $100 billion cost to the nation's $15 trillion-plus debt.
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BUSINESS
Panetta defends military budget plan
Defense Secretary Leon Panetta is defending his department's slimmed-down, $614 billion budget plan, telling senators that it's time to step up and show they are serious about reducing the deficit.
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BUSINESS
Greece surveys riot damage after austerity vote
Firefighters doused smoldering buildings and cleanup crews swept rubble from the streets of central Athens on Monday following a night of rioting during which lawmakers approved harsh new austerity measures demanded by bailout creditors to save the nation from bankruptcy.
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BUSINESS
Oil falls toward $100 ahead of US supply data
Oil prices fell toward $100 a barrel Tuesday in Asia as investors look to the latest U.S. crude supply figures for clues about demand strength.
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BUSINESS
Independent group inspecting Apple suppliers
Apple said Monday that an independent group, the Fair Labor Association, has started inspecting working conditions in the Chinese factories where its iPads and iPhones are assembled.
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BUSINESS
Doctors urge more production of scarce cancer drug
Four pharmaceutical companies that make a crucial cancer drug for children that's suddenly in short supply are being urged to try to quickly step up production to prevent unnecessary deaths.
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BUSINESS
Moody's cuts ratings on Italy, Portugal and Spain
Ratings agency Moody's Investor Service on Monday downgraded its credit ratings on Italy, Portugal and Spain, while France, Britain and Austria kept their top ratings but had their outlooks dropped to "negative" from "stable."
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BUSINESS
Greece faces further obstacles in bailout deal
Greece faces further hurdles and delays before it can receive a second, euro130 billion ($171 billion) bailout despite its lawmakers voting through more austerity measures in the face of violent protests.
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