Law
Justice Department Probes S&P
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Citigroup, JPMorgan Chase and Bank of America all have billions of dollars invested in troubled European countries.
Fears Over Europe, U.S. Weigh On Banks, Markets
()U.S. banks have a lot at stake over in Europe: Citigroup, JPMorgan Chase and Bank of America all have billions of dollars invested in troubled European countries, and are feeling the effects of their problems. Experts say that tremors are generally first felt in the banking system, which means what happens to banks can hurt the overall economy.
HP To End Mobile Products, Spin Off PC Business
It's one of the most dramatic makeovers in the company's 72-year history.
()Europe
Another Suspect Arrested In U.K. Hacking Scandal()
Police confirmed the man — whom the Guardian newspaper identified as James Desborough, a former U.S. editor for News of the World — was arrested at a London police station after arriving voluntarily Thursday. He was later released on bail. Meanwhile, a private investigator at the center of the crisis sued Rupert Murdoch's media empire for breach of contract.
Sports
'Tough Times Ahead' For Miami Football Family()
For the first time, players and managers are speaking out about the scandal that has rocked the Hurricanes' football program and sparked an NCAA investigation. In a Yahoo Sports article this week, a former booster convicted for his role in a $930 million Ponzi scheme said he provided Miami players with cash, prostitutes, cars and other gifts over the past decade.
Crisis In The Housing Market
Mortgage Rates Hit 4.15 Percent, Lowest In Decades()
The average rate on a 30-year fixed mortgage has fallen to its lowest level on records dating to 1971. But despite low rates, sales of previously occupied homes fell 3.5 percent in July.
S&P Faces Probe Over Mortgage Security Ratings()
The Justice Department is investigating whether Standard & Poor's improperly boosted ratings on mortgage securities that later turned out to be toxic, helping trigger the worst financial crisis in decades.
The Two-Way
Markets Plunge On Fears Of A Global Slowdown()
The Dow fell more than 400 points, following the lead of European markets. The selloff comes amid renewed concern over the financial sector.
Economy
New Jobless Claims Up 9,000 Last Week()
The number of people applying for unemployment benefits rose back above 400,000. Still, the average number of applications over the past four weeks fell to its lowest level since mid-April.
Politics
Can Low-Key Sen. Murray Guide Supercommittee?()
Sen. Patty Murray (D-WA) is co-chairwoman of the bipartisan committee charged with cutting more than $1 trillion from the deficit. Some Democrats worry that the mild-mannered former teacher won't be tough enough for the high-stakes negotiations.
Economy
Why Does The U.S. Sneeze When Europe Gets A Cold?()
The debt crisis in Europe is one of the underlying causes of recent wild swings in U.S. stock markets. U.S. banks hold billions in investments in European nations' debt, so any doubts about Europe's soundness send ripples across the Atlantic.
Games & Humor
The Addictive Appeal Of Bananagrams()
Bananagrams is an anagram puzzle built for speed — think of Scrabble with no board or complicated scoring. And despite a down economy and heavy competition from smartphone apps, the company that makes the game is thriving.
Small Businesses, Big Problems
Wage Rules Twist Steel Company's Growth Plans()
In Washington state, a law designed to help contractors by setting an hourly wage for in-state projects is actually hurting Precision Iron Works, the company's president says. Steve Leighton says contractors like him can lose out on projects because out-of-state companies — which don't pay the rates — can outbid them.