CHICAGO— Moody's Investors Service has downgraded Chicago's credit rating to two levels above junk status, citing the city's $20 billion mountain of unfunded pension liabilities. "Regardless of outcome of the legal challenges to pension reforms, we expect Chicago's unfunded pension liabilities— and the costs of servicing those liabilities— to continue to...» Read More
President Barack Obama is not ready to accept a new offer from the Republicans to raise taxes on top earners in exchange for major cuts in entitlement programs, a source said late on Saturday.
Fitch Ratings stuck by its triple-A rating on France in a much-awaited review on Friday but warned that an expected peak in debt in 2014 was the limit it could agree to for a country with a top-notch credit grade.
Greece's bond buyback scheme failed to meet its target by a relatively narrow margin on Tuesday but still left international lenders with a 450-million euro hole in their plan to cut the country's huge debts to a more manageable level.
Greece will extend a debt buyback that forms part of its international bailout for an extra day to receive additional offers from bondholders, a government official said on Monday.
China's largest maker of auto parts won a politically sensitive auction for A123 Systems, a bankrupt maker of batteries for electric cars that was funded partly with U.S. government money, the investment banker for A123 said on Saturday.
Greek and foreign bondholders offered the targeted 30 billion euros in a debt buyback that is key to the country's international bailout, a Greek government official said on Saturday, suggesting the plan had broadly succeeded.
Netflix CEO Reed Hastings violates SEC fair disclosure regulation, said Wedbush Securities analyst Michael Pachter.
China's three dominant dot-com names - Baidu, Alibaba and Tencent Holdings - have successfully tapped global funding this year despite investor skepticism about opaque Chinese companies. The big three plan to use the money to pad their industry advantage at home, to compete better abroad, and perhaps to buy cash-starved rivals.
Greece has hired Deutsche Bank and Morgan Stanley to conduct a voluntary buy back of its debt, a senior finance ministry official told Reuters.
Former hedge fund portfolio manager Matthew Martoma is due in court any minute on charges of conspiracy to commit securities fraud, with CNBC's Bertha Coombs & Judge Richard Holwell, Holwell Shuster & Goldberg.
The U.S. at war, a cyber war, and businesses and government are simply outgunned in the battle, said Eric Rosenbach, Deputy Assistant Secretary of Defense for Cyber Policy.
CNBC.com presents a list of competitive activities for kids, and what parents can expect to pay for their child’s involvement. Some are academic, some are in the arts and some are meant to develop strategic thinking. But all of them carry a price tag much higher than you’d expect.
Charles Biderman, founder and CEO of TrimTabs Investment, tells CNBC that the new bubble is securitized credit; "Prices have gone to the moon, there is tremendous demand and huge inflows into vehicles that invest in that."
This year, the securities industry has lost 1,200 jobs and earned $10.5 billion in profits. Thomas DiNapoli, NY State Comptroller, offers insight on the securities industry's annual report.
Attempts to make sweeping changes to a popular type of mutual fund that played a central role in the 2008 financial crisis have been derailed, the New York Times reports.
Seven years after he was first sued by New York state prosecutors for securities fraud, the allegations against former AIG chief Maurice “Hank” Greenberg are still pending – and may now be considered by the state's highest court.
The auto industry has been one of the positives in this shaky economy but will it last? Traders will be watching June auto sales on Tuesday—especially after a weak ISM reading.
The beach may be beckoning this Fourth of July week but traders are going to want to be at their desks for the start of the third quarter, with the jobs report, an ECB rate decision—and more.
For Goldman Sachs, the insider trading case against a former board member, Rajat K. Gupta, which ended in a conviction on Friday, was distracting and discomforting. At least until now, it has also been very expensive, the New York Times reports.
It was August, 1964. President Lyndon Johnson was about to sign into law the most important Wall Street reforms since the Great Depression.