Career Education settles New York probe into placement rates
(Reuters) – Career Education Corp has agreed to pay $10.25 million to settle a New York probe in which the for-profit education company was accused of inflating job placement rates to lure prospective students into attending its schools.
Analysis: In choice of next Fed chair, a focus on regulatory views
SAN FRANCISCO (Reuters) – As President Barack Obama weighs whom to nominate to succeed Federal Reserve Chairman Ben Bernanke, he will look well beyond their stance on monetary policy, the traditional measure of a good central bank chief.
India, Brazil, other emerging economies hit by currency rout
MUMBAI/RIO DE JANEIRO (Reuters) – The Indian rupee plummeted to a record low against the dollar on Monday, leading a rout by Brazil’s real and other emerging market currencies seen by investors as the most vulnerable to an exodus of foreign capital.
Fannie, Freddie should recognize bad loan costs immediately: watchdog
WASHINGTON (Reuters) – Fannie Mae and Freddie Mac are possibly masking billions of dollars in losses because of the level of delinquent home loans they carry, a federal watchdog said on Monday, adding that the companies should immediately be required t…
Amazon.com back up after going down for U.S., Canadian users
NEW YORK (Reuters) – Amazon.com, the website of the world’s largest online retailer, came back up after going down for about 15 minutes on Monday for many users across the United States and Canada.
Amplats to cut 7,000 South African jobs, union ‘shocked’
JOHANNESBURG (Reuters) – Anglo American Platinum (Amplats) said it planned almost 7,000 job cuts at its South African operations including thousands of compulsory lay-offs, drawing an angry response from a labor union and raising the risk of renewed un…
Obama feels ‘urgency’ about finishing Dodd-Frank rules: White House
WASHINGTON (Reuters) – President Barack Obama plans to communicate a “sense of urgency” about finishing new rules for Wall Street when he meets with top U.S. financial regulators on Monday, a White House spokesman said.
Dutch economist accused of stalking Citi executive faces more charges
NEW YORK (Reuters) – A Dutch economist faces additional criminal charges in New York for allegedly stalking Citigroup Inc’s global chief economist, Willem Buiter.
Fed tells big banks to improve capital planning
WASHINGTON (Reuters) – Big banks must improve the way they determine how much capital they need to withstand any future crisis, the U.S. Federal Reserve said, citing observations from regulators’ periodic tests of banks’ health.
Lilly defends blockbuster Alimta with unusual ammo
(Reuters) – Eli Lilly and Co, now facing one of the worst patent cliffs in its history, could find $15 billion in sorely needed relief if it beats the odds and wins a closely watched patent battle with generic drugmaker Teva Pharmaceutical Industries.
