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  • Ocwen to sell $9.6 billion in mortgage-servicing rights Wednesday, 18 Mar 2015 | 2:22 PM ET

    NEW YORK— Ocwen said Wednesday that it will sell the mortgage-servicing rights of $9.6 billion worth of loans to a unit of Walter Investment Management. Atlanta- based Ocwen recently reached settlements with regulators in New York and California. Shares of Ocwen Financial Corp. slipped 24 cents, or 2.7 percent, to $8.75 in afternoon trading Wednesday.

  • March 18- Package delivery company FedEx Corp reported a better-than-expected quarterly net profit on Wednesday but forecast full-year earnings below analysts' estimates as it looked for the global economy to grow at a lackluster rate. Memphis- based FedEx also said fuel expenses were reduced by 30 percent due to low oil prices but its international...

  • Starbucks CEO defends 'Race Together' after backlash Wednesday, 18 Mar 2015 | 8:09 AM ET

    NEW YORK— Starbucks CEO Howard Schultz on Wednesday defended the company's new "Race Together" campaign that has been criticized for being naive and even using racial tensions to boost its bottom line. Starbucks also plans to start publishing "conversation guides" on the topic, with questions like "How have your racial views evolved from those of your parents?"

  • WASHINGTON— Senate Republicans are matching President Barack Obama's proposals to cut Medicare by more than $400 billion over the coming decade, though they're not embracing his specific cuts to health care providers like hospitals and drug companies. Slated for release Wednesday afternoon, the GOP senators' companion measure contains greater cost cuts...

  • Google's moonshots, gender bias at South by Southwest Wednesday, 18 Mar 2015 | 3:01 AM ET

    The head of Google's division talked about testing driverless cars and delivery drones, gender bias in tech was a hot topic and event-goers checked out the latest products and companies on the trade show floor. Some of Google's most secretive projects like Google Glass and driverless cars have come out of its five-year-old division, so attendees flooded in...

  • DIARY-Top Economic Events to March 30 Tuesday, 17 Mar 2015 | 8:01 PM ET

    LONDON- Bank of England to publish minutes of its March policy meeting- 0930 GMT. STOCKHOLM- Bank and Finans Outlook 2015. Sweden's Riksbank Governor Stefan Ingves and Sweden's Finance Minister Magdalena Andersson will attend. FRANKFURT- European Central Bank board member Benoit Coeure speaks at the ILF conference on "What is the Goal of the Capital Markets...

  • The plan by Budget Committee Chairman Tom Price, R- Ga., pads Pentagon and State Department accounts for overseas operations in Afghanistan and elsewhere by $36 billion above President Barack Obama's $58 billion request for such spending, which is not bound by the return of automatic cuts next year. In the immediate term, the measure would produce higher...

  • It will be overseen by two rookie Budget Committee chairmen in the Senate and House of Representatives. The orthopedic surgeon from Georgia is also widely expected to recycle controversial changes to Medicare championed by his predecessor, Paul Ryan, which would turn the popular health care program for seniors into a system of subsidies for private...

  • Attorney says legal action against GM will continue Monday, 16 Mar 2015 | 11:05 AM ET

    DETROIT— Despite the settlement of one high-profile case against General Motors, other cases are moving forward and company executives could still be questioned about their role in the deadly ignition switch recall, a plaintiffs' attorney said Monday. The parents of crash victim Brooke Melton, whose 2011 lawsuit in Georgia helped expose the ignition switch...

  • BOSTON— A pickup truck has struck an empty Southwest jet parked at Boston's Logan International Airport, but no injuries have been reported. Dallas- based Southwest Airlines Co. says the truck belonged to another carrier. As a result, Southwest Flight 771 to Atlanta with 119 customers was delayed about 2 1/ 2 hours.

  • 5 things to know about Congress' budget debate Monday, 16 Mar 2015 | 3:14 AM ET

    WASHINGTON— Congress' annual budget debate pits Republicans against Democrats as the newly empowered GOP in the House and Senate offer their alternatives to President Barack Obama's budget. It sets out, in broad strokes, goals for spending, tax revenues and changes to crucial programs like Medicare, Medicaid, food stamps and student loans as well as the health...

  • WASHINGTON— GOP defense hawks are pressing to find ways to boost the Pentagon's bottom line as the annual budget debate cranks up on Capitol Hill, as tension between defense hawks and budget hard-liners is already making it difficult for Republican leaders to assemble a majority behind their soon-to-be-revealed budget blueprints. Senate Armed Service...

  • DETROIT, March 13- The family of a woman who died in a crash later blamed on a faulty General Motors Co ignition switch has settled a civil lawsuit against the automaker, ending litigation that helped bring to light the company's decade-long delay in recalling millions of defective vehicles. The Melton family was represented by Lance Cooper of the Cooper Firm of...

  • EXCLUSIVE-Carmike Cinemas explores sale -sources Friday, 13 Mar 2015 | 9:38 AM ET

    March 13- Carmike Cinemas Inc, the fourth-largest U.S. movie theater chain, has hired investment bank JPMorgan Chase& Co to help it explore strategic alternatives, including a potential sale, according to people familiar with the matter. Spokespeople for Carmike and JPMorgan did not immediately respond to requests for comment. Columbus, Georgia- based Carmike...

  • *Hyundai shares up over 3 pct. A Hyundai spokesman said there were "no plans at this stage" to increase capacity in the United States. Hyundai currently builds its Santa Fe SUV at affiliate Kia Motors' production facilities in Georgia, while importing Tucson compact SUVs from Korea.

  • SEOUL, March 11- Hyundai Motor Co has decided to build its second U.S. factory to meet demand for sport utility vehicles, South Korea's Yonhap News Agency reported on Wednesday, citing an industry source familiar with the matter. A Hyundai Motor spokesman said "there are no plans at this stage," without elaborating further. Hyundai Motor builds its Elantra compact...

  • SAN FRANCISCO, March 9- Apple Inc launched its long-awaited watch on Monday, including yellow or rose gold models with sapphire faces costing up to $17,000, but some investors questioned whether Chief Executive Tim Cook's first product would be a breakaway hit. Apple's first new device since Cook became CEO will be available for order on April 10 and in stores on...

  • SAN FRANCISCO, March 9- Apple Inc launched its long-awaited watch on Monday, including yellow or rose gold models with sapphire faces costing up to $17,000, but investors questioned whether Chief Executive Tim Cook's first product would be a breakaway hit. Apple's first new device since Cook became CEO will be available for order on April 10 and in stores on...

  • *Alcoa to buy RTI International for $1.5 bln. Alcoa Inc said it would buy RTI International Metals Inc for $1.5 billion. Alcoa lost 5.4 percent to $13.70 while RTI jumped 39.3 percent to $38.00.

  • Delta accident related to brake setting - NTSB Monday, 9 Mar 2015 | 3:50 PM ET

    March 9- Federal safety investigators said the autobrake selector switch was set to' max' on a Delta Air Lines Inc jet that skidded off a runway at New York's LaGuardia Airport last week and crashed into a fence. "The auto brakes were set to' max' but they did not sense any wheel brake deceleration," the National Transportation Safety Board said in a statement.