Arcive of financial news
Want to gripe about the Internal Revenue Service?
Then Bruce Zgoda wants to hear from you.
The self-employed CPA in Clarence is a volunteer member of the national Taxpayer Advocacy Panel, an independent advisory group established by the U.S. Treasury Department to identify taxpayer issues and make suggestions to improve IRS services and customer satisfaction. As a […]
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Revenue at the six local casinos dropped 3.6 percent in September compared to a year ago, according to new figures from the Missouri Gaming Commission and Illinois Gaming Board.
Gamblers, more concerned about cutting back discretionary spending amid a troubled economy, spent $80.3 million in September, down 3.6 percent from $83.3 million in September 2007.
President Casino […]
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A new government report says personal spending stagnated in August as Americans continued to be weighed down by the economy.
The U.S. Commerce Department Monday reported personal spending was virtually unchanged in August. Spending has not been this weak since February, when it was also flat. Economists had forecast a 0.2 percent increase in personal spending.
Personal […]
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The Federal Reserve almost quadrupled the amount of dollars central banks can auction around the world to $247 billion in a coordinated bid to ease the worst crisis facing financial markets since the 1920s.
The Fed increased the amount of dollars that the European Central Bank, the Bank of Japan and other counterparts can […]
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They’re known as "pick-a-payment" mortgages or option ARMs, but their detractors call them pure poison. Now their default rates, which are already high, are about to explode, according to a Fitch Ratings report issued Tuesday.
Option ARMs are loans that allow borrowers to make very low minimum payments that don’t even cover the interest for […]
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Alton Memorial Hospital in Alton, Ill., fired an undisclosed number of employees this week, according to The Telegraph.
The lay-offs occurred Wednesday and were in response to the shaky economy.
A call to the hospital was not immediately returned.
St. Louis-based BJC HealthCare is a not-for-profit community benefit health-care provider with 13 hospitals, including Alton Memorial, and four […]
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The state of Washington’s prison system is looking for businesses to operate in prisons.
In November, voters passed an amendment to the state constitution that allows inmate work programs. Supporters of the amendment said the program gives inmates the work skills they need to stay out of prison and some income to pay off their debts.
Businesses […]
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Treasury Secretary Henry Paulson predicted the Bush administration will prevail in its effort to convince Congress to pass legislation that would allow the government to rescue Fannie Mae and Freddie Mac.
“I'm very optimistic that we're going to get what we need from Congress,'' Paulson said on the CBS News “Face the Nation'' program. […]
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Australia's home-loan approvals probably declined for a fourth straight month in May, adding to signs that interest-rate increases are slowing the economy.
The number of loans granted to people to build or buy homes or apartments fell 2 percent from May, when they dropped 3 percent, according to the median estimate of 21 economists […]
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The Federal Reserve may be hesitant to raise interest rates ahead of the U.S. election in November, although there is no hard evidence to support the widely held view that politics influences monetary policy.
The Fed has raised rates in election years, as well as leaving them on hold or cutting. As a result, […]
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