Bonnie Papandrea of Wilkinson & Associates ERA Powered, provides insight on how her business was impacted by the shutdown. Also, a peak at 3 property listings in Charlotte, North Carolina.» Read More
*Bank of America says believes there was no fraud. NEW YORK, Aug 27- The U.S. government lawsuit accusing Bank of America Corp of fraudulently selling toxic mortgage loans to Fannie Mae and Freddie Mac appears on track to go to trial next month after a judge rejected the bank's bid to dismiss the case.
*Positive data expected from Japan and China. LONDON, Aug 25- More bricks in the global recovery wall are likely to slot into place in a week that could also yield more clues as to when the Federal Reserve will start unwinding its exceptional monetary stimulus.
BIRMINGHAM, Ala., Aug 15- Investigators combed through the wreckage of a UPS cargo plane for the second straight day on Thursday, hoping to find clues to the crash that killed two pilots outside Birmingham, Alabama's international airport early Wednesday.
WASHINGTON, Aug 6- The U.S. Justice Department on Tuesday said it had filed a civil lawsuit against Bank of America for what government lawyers said was a fraud on investors involving $850 million of residential mortgage-backed securities.
*Trade deficit shrinks to $34.2 billion in June. The Commerce Department said on Tuesday the trade gap fell 22.4 percent to $34.2 billion, the smallest since October 2009. When adjusted for inflation, the trade gap narrowed to $43.2 billion, the smallest since January 2010, from $51.9 billion in May.
That is, until the SEC decided to bring a civil fraud suit against former Goldman Sachs Vice President Fabrice Tourre, the highest profile case to emerge from the agency's investigations into the causes of the 2008 financial crisis. The SEC accused Tourre, 34, of misleading investors in a synthetic collateralized debt obligation called Abacus 2007- AC1.
On Wednesday, Tulsa, Oklahoma- based BOK Financial, which had nearly a third of its $27.5 billion in assets invested in mortgage bonds earlier this year, saw paper profits from the portfolio drop.
WASHINGTON, July 31- U.S. economic growth likely slowed sharply in the second quarter, but it is poised to regain momentum as the burden brought on by belt-tightening in Washington eases.
WASHINGTON, July 29- Contracts to purchase previously owned U.S. homes fell in June, retreating from a more than six-year high and suggesting rising mortgage rates were starting to dampen home sales. The National Association of Realtors said on Monday its Pending Homes Sales Index, based on contracts signed last month, decreased 0.4 percent to 110.9.
NEW YORK, July 26- Expedia Inc can send people to destinations around the world, but it can't send investors back in time so they can avoid the stock's massive selloff on Friday. Expedia, Netflix and Google were hit hard after reporting earnings in the last two weeks.
*Core capital goods orders rise 0.7 percent in June. WASHINGTON, July 25- A gauge of planned U.S. business spending rose for a third straight month in June, offering a hopeful sign for a pickup in economic growth in the second half of the year.
NEW YORK, July 18- Bank of America Corp's balance sheet suffered from rising bond yields in the second quarter, suggesting that the second-largest U.S. bank may be more exposed to interest-rate risk than some of its major rivals. The unrealized losses bode ill for investors hoping Bank of America will increase share buybacks and dividends.
WASHINGTON, July 17- U.S. housing starts and permits for future home construction unexpectedly fell in June, but the decline in activity was likely to be short-lived against the backdrop of bullish sentiment among home builders. The Commerce Department said on Wednesday housing starts dropped 9.9 percent to a seasonally adjusted annual rate of 836,000 units.
WASHINGTON, July 15- Citing waning demand, U.S. weapons maker General Dynamics Corp on Monday said it would consolidate its two combat systems businesses and close the Charlotte, North Carolina, headquarters of one of them by the end of 2013..
July 12- Bank of America Corp rejected allegations that greed and bad faith drove the bank and its workers to push distressed homeowners into foreclosure, rather than help them obtain loan modifications to which they were entitled.
WASHINGTON, July 12- Worries about rising interest rates and falling stock prices hit U.S. consumer sentiment in early July, while other data showed a firm rise in wholesale prices that could make the U.S. The Thomson Reuters/ University of Michigan's preliminary reading for its index of U.S. consumer sentiment edged down to 83.9 from 84.1 in June.
*Family Dollar rises after earnings. If nothing else it will be a reminder of what we heard a couple of weeks ago from the Fed in terms of the direction of the quantitative easing program and see if we can get any additional insights into timing of that, "said Paul Mangus, head of equity research and strategy at Wells Fargo Private Bank in Charlotte, North Carolina.
*Family Dollar rises after earnings. NEW YORK, July 10- U.S. stocks were set to open little changed on Wednesday, following weaker-than-expected data from China and as investors awaited the release of minutes from the Federal Reserve's June meeting.
*Kroger to assume Harris Teeter's debt of about $100 mln. July 9- Kroger Co said on Tuesday it would buy regional grocer Harris Teeter Supermarkets Inc in a $2.5 billion deal, the latest in a string of grocery industry consolidations. Competitors there include privately held Publix and discounter Wal-Mart Stores Inc, the largest U.S. food retailer.
WASHINGTON, July 5- U.S. job growth probably slowed in June, but not enough to shift the Federal Reserve away from expectations that it will start scaling back its massive monetary stimulus later this year.