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U.S. Audit: $200M Wasted on Iraqi Police Training

Top Finance News - Mon, 07/30/2012 - 9:45am
U.S. auditors have concluded that more than $200 million was wasted on a program to train Iraqi police that Baghdad says is neither needed nor wanted.

Earnings Season: It’s the Revenue, Stupid!

Top Finance News - Mon, 07/30/2012 - 8:40am
"Only 42% of companies have beat revenue estimates so far, well below an average of 60% from the last four years," says John Butters, senior earnings analyst at FactSet.

Banks Cooperate, Seek Leniency in EU Euribor Probe

Top Finance News - Mon, 07/30/2012 - 8:40am
Several banks under investigation for suspected rigging of euro interest rates have joined Deutsche Bank in giving information to EU antitrust regulators in the hope of lower fines if they are found guilty.

Draghi on Offensive as Game Changer Sought in Crisis Battle

Top Finance News - Mon, 07/30/2012 - 7:25am
European Central Bank President Mario Draghi has gone on the offensive as he seeks a gamechanger in the battle against the sovereign debt crisis.

Apple Discussed Investing in Twitter

Top Finance News - Mon, 07/30/2012 - 7:25am
Apple and Twitter held discussions more than a year ago about Apple possibly making a strategic investment in the short-messaging service.

Is Gold Getting Ready for Take-Off?

Top Finance News - Mon, 07/30/2012 - 7:25am
It wasn’t really very much -- gold ended the week up just over 2%-- but it’s really got people excited.

Renunciations by U.S. Citizens Fall

Top Finance News - Mon, 07/30/2012 - 7:25am
The number of Americans renouncing U.S. citizenship fell by nearly two-thirds in the second quarter, according to a list released by the Treasury Department.

HSBC Takes $700M Money-Laundering Hit

Top Finance News - Mon, 07/30/2012 - 7:25am
HSBC is to take a $700 million charge to cover the cost of U.S. fines arising from its failure to stamp out money-laundering at the bank.

Shanghai May Mark Shares Tied to Multi-Year Losses

Top Finance News - Mon, 07/30/2012 - 7:25am
The Shanghai Stock Exchange is considering new rules that would add a special tag to shares of firms with two or more years of consecutive losses.

They Can’t Build Homes Fast Enough Here

Top Finance News - Mon, 07/30/2012 - 7:25am
People in most housing markets are elated about trends showing that home prices are on the way up and a housing recovery could be underway.

Zames Elevated From JPMorgan Battlefield to Dimon's War Council

Top Finance News - Mon, 07/30/2012 - 7:25am
Twice in the past 100 days, JPMorganChase CEOJamie Dimon has turned to a 41-year-old former hedge-fund trader to tackle challenges facing the largest U.S. bank.

Spanish GDP Contracts 0.4% in Second Quarter

Top Finance News - Mon, 07/30/2012 - 7:25am
Spanish gross domestic product contracted 0.4% in the second quarter, versus the prior quarter, according to preliminary estimates released by the national statistics office Monday.

UK sets out terms of urgent Libor review

Top Finance News - Mon, 07/30/2012 - 6:00am
Britain's government set out the terms for a revamp of a key interest rate rigged by a number of banks, including Barclays , saying on Monday that urgent reform is required. The review will be conducted ...

Stock futures signal slightly lower Wall Street open

Top Finance News - Mon, 07/30/2012 - 4:55am
Stock index futures pointed to a weaker open on Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 down 0.1-0.3 percent. Chevron Corp plans to invest $2 billion to develop ...

Spanish recession deepens in Q2

Top Finance News - Mon, 07/30/2012 - 4:55am
Spain slid deeper into recession in the second quarter as a tough new round of austerity to head off the budget crisis that threatens the euro took effect both on overall demand and the price consumers ...

GM ousts global marketing chief over soccer deal: source

Top Finance News - Mon, 07/30/2012 - 3:30am
General Motors Co ousted its global marketing chief Joel Ewanick a little more than two years after he joined the company to lead an overhaul of its marketing strategy. A source with knowledge of the matter ...

Banks urge Congress to extend crisis-era deposit insurance

Top Finance News - Mon, 07/30/2012 - 1:25am
The expiration of special U.S. deposit insurance at the end of the year has spurred banks to lobby Congress to extend the program out of fear that companies will withdraw billions of dollars. At issue ...

Insight: Oil pipeline crunch shifts U.S. shale race from drillbits to valves

Top Finance News - Mon, 07/30/2012 - 1:25am
The U.S. shale oil revolution can't be stopped, but it could be delayed by a potential shortfall of 10-ton valves and giant pipeline pumps essential for rebalancing markets upended by the surge in production. ...

HSBC faces U.S. compliance issues, Libor scrutiny

Top Finance News - Mon, 07/30/2012 - 12:15am
The threat that HSBC faces a big U.S. fine for lax controls in its anti-money laundering systems and the risk it will be pulled deeper into an interest rate manipulation probe are set to overshadow strong ...

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