Five years after Bernie Madoff's arrest, new masters of Ponzi schemes have emerged. Meet the scammer convicted as Minnesota's $200 million man.» Read More
Lenders initiated foreclosure action against 52,826 U.S. homes in November, down 10 percent from the previous month and a drop of 32 percent from November last year, according to new data from foreclosure listing firm RealtyTrac Inc.. Foreclosure starts increased last month on an annual basis in 15 states, including Pennsylvania, Delaware, Maryland and Oregon.
SEOUL, Dec 12- Samsung Electronics Co Ltd on Thursday lost its bid to ban sales of Apple Inc's older iPhone and iPad in South Korea after a court dismissed a lawsuit claiming the U.S. firm had infringed on three of Samsung's mobile patents.
Dec 11- Boeing's Seattle- area machinists union made a preliminary proposal for a contract that would allow the new 777 X jetliner to be built in Washington state, where the current 777 is built.
SEOUL, Dec 12- Samsung Electronics Co Ltd on Thursday lost its bid to ban sales of Apple Inc's older iPhone and iPad in South Korea, as a court dismissed a lawsuit claiming the U.S. firm had infringed three of Samsung's mobile patents.
LOS ANGELES, Dec 12- Chevron Corp raised the cost of its giant Gorgon liquefied natural gas project in Australia by $2 billion on Wednesday, the second increase in just over a year to take the total cost to $54 billion.
WASHINGTON, Dec 11- In the crucial minutes before an Asiana Airlines flight crashed in San Francisco last summer, the pilots voiced concern about the plane's low speed but did nothing to correct it until just before it hit the ground.
Dec 11- U.S. wireless operators on Wednesday fought back against an accusation from the New York State attorney general that they refused to install software that would act as a "kill switch" to discourage theft of smartphones.
SAN FRANCISCO, Dec 11- The company that manages a fleet of airplanes owned and leased by Google Inc executives Larry Page, Sergey Brin and Eric Schmidt improperly bought fuel from the government at below-market rates, for a savings of up to $5.3 million according to a report released by the NASA Inspector General on Wednesday.
WASHINGTON, Dec 11- As online enrollment accelerates for medical insurance under President Barack Obama's health law, the government is relying on manual back-up systems to correct computer errors that could leave some enrollees uninsured, the top U.S. health official said on Wednesday.
Dec 11- Standard& Poor's on Wednesday said Facebook Inc will join its S&P 500 stock index after the close of trading on Dec. 20, cementing the social media network's rise into one of the biggest, most powerful U.S. companies. Facebook shares rose 4.3 percent to $51.51 following S&P's announcement after regular market hours.
NEW YORK, Dec 11- The head of the U.S. transport accident investigation agency said on Wednesday that there is "an issue in aviation" with cockpit automation, such as reliance on autopilots to fly planes, but the industry has a robust safety record.
*LabCorp tumbles after outlook, Quest Diagnostics follows. NEW YORK, Dec 11- U.S. stocks posted their largest drop in a month on Wednesday as traders locked in recent gains after a provisional budget deal out of Washington removed one of the near-term reasons for the Fed to keep up its current pace of economic stimulus.
SAN FRANCISCO, Dec 11- Palantir Technologies, the data-mining company that is partly backed by the Central Intelligence Agency, has raised another $107.5 million, according to a filing.
LOS ANGELES-- Shares of Scripps Networks Interactive Inc., the operator of the pay TV channels Food Network and HGTV, rose Wednesday following a report that rival channel owner Discovery Communications Inc. had discussed making a bid for the company.
JDS Uniphase Corp., a maker of testing equipment for communications networks, said Wednesday that it plans to buy privately-held Network Instruments for $200 million in cash. JDS Uniphase, which is based in Milpitas, Calif., said the deal will expand its business into the enterprise, data center and cloud markets.
Dec 11- CytRx Corp said its experimental cancer treatment improved survival rates in untreated soft tissue sarcoma patients without the disease progressing, compared with standard chemotherapy alone, sending the company's shares up as much as 83 percent.
NEW YORK, Dec 11- As the holidays approach, many parents are grappling with the ultimate gift conundrum- it better to give cash, gift cards or more personal gifts to teachers?
Shares of CytRx Corp. soared Wednesday after the drug developer said its potential cancer treatment fared much better than an established chemotherapy in mid-stage testing on patients with soft-tissue sarcoma. CytRx said that helps deliver the molecule with doxorubicin to the tumor site, where the chemotherapy is released.
NEW YORK/ SAN FRANCISCO, Dec 11- Now that the central question before the Federal Reserve has shifted from whether to cut its extraordinary stimulus to when exactly to pull back, the debate at next week's meeting will center on how best to communicate that plan.
WASHINGTON, Dec 11- Pilots of an Asiana Airlines Inc plane that crash-landed in San Francisco in July were aware the plane was traveling too slowly and tried to correct it in the final seconds before impact, according to documents released on Wednesday by U.S. aviation safety investigators.