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Friday, February 21, 2014

Detroit bankruptcy plan proposes slashing pension benefits up to 34%

Detroit bankruptcy plan proposes slashing pension benefits up to 34%


Detroit bankruptcy plan proposes slashing pension benefits up to 34%

Posted: 21 Feb 2014 09:03 AM PST

Detroit city employees and retirees face losing up to 34% of their promised pension benefits under the city's bankruptcy plan filed in court Friday.

Citigroup CEO gets $14 million pay package

Posted: 21 Feb 2014 08:12 AM PST

Another big pay day for a Wall Street CEO. Citigroup's Michael Corbat received more than $14 million in total compensation last year, according to a new SEC filing.

Friday Links

Posted: 21 Feb 2014 08:14 AM PST

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U.S. Speedskating extends contract with Under Armour

Posted: 21 Feb 2014 09:10 AM PST

Under Armour has extended its exclusive contract with the U.S. Speedskating Association despite some controversy involving the suits worn by athletes at the 2014 Winter Olympics in Sochi, Russia.

Stocks go nowhere in early trading

Posted: 21 Feb 2014 07:38 AM PST

Stocks were mostly unchanged Friday as investors analyzed mixed signals about the health of the economy and corporate earnings.

Mortgage bailout now profitable for taxpayers

Posted: 21 Feb 2014 09:19 AM PST

U.S. taxpayers have recouped all of the $187 billion they gave mortgage giants Fannie Mae and Freddie Mac in one of the most expensive bailouts of the financial crisis.

Hedge funds hot for oil and Apple

Posted: 21 Feb 2014 05:00 AM PST

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G20: Bring on the Fed bashing

Posted: 21 Feb 2014 04:44 AM PST

Top economic policymakers meet this weekend in Australia but will struggle to achieve common ground on new challenges to the global recovery.

Netflix speeds lag for Verizon users amid dispute

Posted: 21 Feb 2014 04:39 AM PST

Having trouble streaming "House of Cards?" A stand-off involving Verizon and Netflix may be to blame.

Jacksonville is hot for startups

Posted: 21 Feb 2014 04:03 AM PST

Jacksonville, Fla., is attempting an image change. It's hoping to swap its reputation as a stodgy old Southern city with that of an emerging hub for startups.

Business Wire ends feed to high speed traders

Posted: 21 Feb 2014 06:36 AM PST

For some investors, it's the milliseconds that count.

Stocks: Pushing on to new highs?

Posted: 21 Feb 2014 04:36 AM PST

Markets could end the week on a high note as investors shrug off mixed signals about the health of the economy and corporate earnings.

Ukraine faces default as Russia stalls

Posted: 21 Feb 2014 07:24 AM PST

Ukraine's plans to tap Russia for $2 billion in emergency funding have fallen apart, leaving the country sliding towards economic disaster.

GM accused of deadly recall delay

Posted: 20 Feb 2014 09:18 PM PST

General Motors has been accused of dragging its feet for a decade on recalling popular compact cars with a defect that was involved in the deaths of at least six people.

Chinese snap up fine art for use in laundering schemes

Posted: 21 Feb 2014 06:05 AM PST

Wealthy Chinese interested in moving their riches out of the country are doing so with help from an unusual cast of characters: sculptors, painters and calligraphers.

Don't expect more WhatsApp-like deals

Posted: 20 Feb 2014 01:23 PM PST

Don't expect Facebook's $19 billion WhatsApp purchase to set off a messaging app shopping spree.

Obama drops controversial Social Security proposal

Posted: 20 Feb 2014 02:33 PM PST

The White House said Thursday that President Obama will not push a proposal that would reduce the annual growth in Social Security benefits.

Colorado stash: $184M in marijuana taxes

Posted: 20 Feb 2014 11:25 AM PST

Colorado expects to take in about $184 million in tax revenue from marijuana in the first 18 months after legislation -- and much of that money will be funneled into teaching kids to stay away from pot.

Porsche to 911 GT3 owners: Stop driving the car

Posted: 20 Feb 2014 12:31 PM PST

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WhatsApp founder: Food stamps to billionaire

Posted: 20 Feb 2014 10:16 AM PST

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