- BofA's $17B settlement not as large as it appears
WASHINGTON (AP) — Bank of America's purchase of Countrywide Financial has cost it tens of billions of dollars over the past six years. An expected $17 billion settlement with the Justice Departm ent will increase that toll, but not by a full $17 billion.
- Why Bank of America deal might not cost it $17B
WASHINGTON (AP) — How much will Bank of America's expected $17 billion mortgage settlement cost the company? The answer is, almost certainly not that much.
- Sears 2Q loss widens on sluggish sales
HOFFMAN ESTATES, Ill. (AP) — Sears said Thursday that its second-quarter loss widened as it continues to deal with weak sales.
- China manufacturing drags on Asia, but Europe up
SEOUL, South Korea (AP) — Asian stock markets were dampened by a weak China manufacturing survey Thursday, but European stocks opened higher. Japan gained on the prospect of a stronger dollar after Fed minutes showed policymakers are leaning toward their first rate hike since the 2008 financial crisis.
- California drought stings bees, honey supplies
LOS BANOS, Calif. (AP) — California's record drought hasn't been sweet to honeybees, and it's creating a sticky situation for beekeepers and honey buyers.
- Report: Russia conducts checks at McDonalds
MOSCOW (AP) — Russian news agencies reported Thursday that the country's food safety agency will conduct checks on McDonald's restaurants in the Urals following food safety complaints, a day after four branches of the chain were shuttered in Moscow.
- Some Fed officials want to slow economic help soon
WASHINGTON (AP) — Some Federal Reserve officials think the U.S. economy is improving fast enough that the Fed will need to act sooner than previously thought to slow the extraordinary support it's been providing through ultra-low interest rates.
- Social media pushes back at militant propaganda
BEIRUT (AP) — The extremists of the Islamic State group have turned their social media into a theater of horror, broadcasting a stomach-turning stream of battles, bombings and beheadings to a global audience.
- Survey indicates eurozone growing slowly
FRANKFURT, Germany (AP) — A survey of business activity shows the economy of the 18-country eurozone grew at only a slow pace in August, a sign it remains sluggish after a disappointing second quarter in which it did not expand at all.
- Yellen to give her outlook as Fed honeymoon fades
WASHINGTON (AP) — Janet Yellen has won credit for guiding the Federal Reserve's first six months of transition from the Ben Bernanke era. Bernanke's Fed had steered the economy through a deep crisis by slashing interest rates and restoring confidence in banks. Yellen has so far carried on his approach with barely a hiccup.