US Futures Pare Losses, but Trend Still Down
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CNBC's Jane Wells explains how Charles Ramsey came to the rescue at McDonald's.
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The two communications occurred weeks and months before Doug Shulman, then the commissioner of the IRS, told congressional panels in late March 2012 that no groups were being targeted for extra scrutiny by the tax agency.
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*Federal Circuit: Nintendo did not violate Motiva's rights. May 13- Nintendo Co, one of the world's largest makers of video game players, won a U.S. appeals court decision in a patent case that will allow it to keep importing its popular Wii system into the United States.
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*Federal Circuit: Nintendo did not violate Motiva's rights. May 13- Nintendo Co, one of the world's largest makers of video game players, won a U.S. appeals court decision in a patent case that will allow it to keep importing its popular Wii system into the United States.
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May 13- Michigan's biggest city is "clearly insolvent" and needs to restructure its debt and renegotiate its labor contracts to address its problems, Detroit's emergency financial manager said on Monday.
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WASHINGTON, May 13- U.S. retail sales unexpectedly rose in April, pointing to underlying strength in the economy and leading forecasters to bump up second-quarter growth estimates.
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MUNCIE, Ind.-- First Merchants Corp. will buy CFS Bancorp Inc. for $114.7 million in an all-stock. Shareholders in CFS, based in Munster, Ind., will receive 0.65 shares of First Merchants common stock for each of their CFS shares.
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NEW YORK/ WASHINGTON, May 12- When David Pendery, a corporate public relations specialist, decided to move his family from Colorado to Illinois this year for work, his biggest worry was whether he would be able to sell his home quickly. It took just three days.
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DETROIT, May 12- Six weeks into his work as Detroit's emergency manager, former bankruptcy lawyer Kevyn Orr has found the city's finances in worse shape than expected, with long-term debt at $15 billion, $2 billion worse than figures disclosed before he took the job.
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*Lawmakers doubt IRS explanation that targeting was not political. It needs to have a full investigation, " House of Representatives Intelligence Committee Chairman Mike Rogers, a Michigan Republican, said on" Fox News Sunday. "
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*IRS put conservative groups under closer scrutiny. WASHINGTON, May 11- A senior U.S. Internal Revenue Service official knew in 2011 that IRS agents were giving extra scrutiny to conservative Tea Party groups, according to documents from a watchdog office obtained by Reuters on Saturday.
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WASHINGTON, May 11- A report from the watchdog agency overseeing the Internal Revenue Services finds that a top IRS official knew that lower level agents gave extra scrutiny to conservative Tea Party groups as early as 2011, according to a congressional source with knowledge of the findings.
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*IRS gave conservative groups greater scrutiny. WASHINGTON, May 11- A senior Republican senator condemned the Internal Revenue Service on Saturday for singling out conservative political groups for extra scrutiny, while the IRS described the incident as isolated and not politically motivated.
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PITTSBURGH-- A boom in natural gas drilling in Pennsylvania is generating billions of dollars for companies and private landowners, but some experts question whether the state's low effective tax on the bounty makes long-term sense. Unlike most leading oil and gas producing states, Pennsylvania doesn't link fees to how much gas comes out of the well.
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WASHINGTON, May 10- An investigation of the U.S. Internal Revenue Service was launched on Friday after a senior IRS official publicly apologized for subjecting conservative political groups to "inappropriate" scrutiny. "We would like to apologize for that," said Lois Lerner, director of the IRS tax-exempt office at an American Bar Association conference.
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NEW YORK, May 10- With the Dow and the S&P 500 setting another string of record closing highs this week, the old Wall Street adage "Sell in May and Go Away" is starting to look weak. "Instead of' Sell in May and Go Away,' we may be setting up for a surprise May rally," said Ryan Detrick, senior technical analyst at Schaeffer's Investment Research in Cincinnati, Ohio.
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CHICAGO-- Fitch Ratings on Friday cut Sherwin-Williams Co.' s ratings to "A-" from "A," citing the additional debt and risk related to its pending acquisition of a Mexican paint company. Fitch originally placed Sherwin-Williams' ratings under review in November after it announced plans to buy Consorcio Comex SA de CV in a deal worth about $2.34 billion, including debt.
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NEW YORK, May 10- The S&P 500 and Nasdaq rose modestly on Friday and indexes were on track for a third week of gains as an earnings-driven rally in Priceline's stock helped offset a slide in energy shares.
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DETROIT-- Michigan public school districts can stop collecting union dues from teachers and other employees through payroll deduction, according to a 2-1 federal appeals court ruling.
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NEW YORK, May 8- When Barbara Grover and her husband received an inheritance they were not expecting five years ago, they planned a luxurious family trip. Rather than plowing the money back into retirement savings, the Grovers took their two daughters as well as their spouses and children along on an eight-day safari in Tanzania.
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May 7- Mortgage finance company Fannie Mae and accounting firm KPMG have agreed to pay $153 million to settle a shareholder lawsuit filed by Ohio pension funds and others accusing the companies of issuing false and misleading financial reports, the Ohio attorney general said on Tuesday.