Archive for June, 2009
For modest earners, relief repaying student loans (AP)
NEW YORK – Repaying a student loan could soon be a little less painful.
Starting this week, anyone with a federal student loan can apply for a program, run by the Department of Education, that caps monthly payments based on income, and forgives remaining balances after 25 years. Those choosing to work in public service could [...]
GM accepts product liability in bid to clear sale (Reuters)
Reuters – General Motors Corp has agreed to accept liability for future product defects as one of several concessions offered in a bid to win court approval for a quick sale from bankruptcy.
(full text retrieval failed)
Amazon.com ends commission program in NC (AP)
RALEIGH, N.C. – Amazon.com said Friday it has pulled the plug on commissions for North Carolina Web sites that make referrals to the online retailer because a law designed to collect sales taxes on these transactions could soon be enacted.
Seattle-based Amazon said it wrote to Web site operators, telling them its “Associates program” will end [...]
U.S. commercial banks see record Q1 trading revenue (Reuters)
NEW YORK (Reuters) –
U.S. commercial banks reported record trading revenue in the first quarter of 2009, benefiting from wide trading margins and gains from interest rate products, the Office of the Comptroller of the Currency said on Friday.
Banks generated a record $9.8 billion in revenue from trading derivatives and cash instruments, compared with a loss [...]
27Jun2009 | it-y | 0 comments | Continued
Prosecutors ask judge to imprison Madoff for life (Reuters)
NEW YORK (Reuters) –
Swindler Bernard Madoff should spend the rest of his life in prison, U.S. prosecutors argued on Friday, citing the "unique scope and duration" of his crimes as the leader of Wall Street's biggest fraud.
Madoff will be sentenced on Monday after pleading guilty in March to 11 criminal charges including securities fraud, money [...]
27Jun2009 | it-y | 0 comments | Continued