AP - A federal judge has sentenced law firm co-founder Melvyn Weiss to 30 months in prison for his role in a lucrative lawsuit kickback scheme targeting some of the largest corporations in the nation. -- read full article
AP - Brent Saba had just dropped a church group off at Philadelphia International Airport on Sunday morning and was heading north on Interstate 95 when it happened: His 15-passenger van ran out of gas.
Reuters - Treasury Secretary Henry Paulson said
on Sunday leaders of Gulf oil producing states had told him
that abandoning their currency pegs to the dollar will not
solve their inflation problems.
Reuters - U.S. Treasury Secretary Henry Paulson
said on Saturday the dollar peg for currencies in the Gulf Arab
countries had served the region well and any changes to the peg
would be a sovereign matter.
Reuters - U.S. Treasury Secretary Henry Paulson
said on Saturday the dollar peg for currencies in the Gulf Arab
countries had served the region well and any changes to the peg
would be a sovereign matter. -- read full article
Reuters - Treasury Secretary Henry Paulson said on
Friday he has some problems with the housing rescue plan under
consideration in the U.S. Senate, but will work to craft a bill
that President George W. Bush can sign.
AP - Retail gas prices jumped a cent Friday to a new national average over $3.96 a gallon, putting them on a course to hit $4 by early next week. Oil futures, meanwhile, traded in a narrow range as investors tried to determine whether recent price declines were temporary.
Reuters - U.S. consumer confidence fell to a
28-year low in May, a survey showed on Friday, as soaring
prices for food and fuel soured sentiment and pushed long-term
inflation expectations to the highest in more than a decade.
Reuters - Bear Stearns' two top economists,
David Malpass and John Ryding, will not join JPMorgan Chase &
Co, which is set to close its purchase of Bear, a source
familiar with the situation said on Friday.
AP - Americans are shell-shocked at $4-a-gallon gas. But consider France, where a gallon of petrol runs nearly $10. Or Turkey, where it's more than $11.
AP - The first round of economic stimulus checks gave a boost to personal incomes in April but a huge question remains: Will people spend the checks quickly enough to keep the economy afloat?
Reuters - Personal spending rose by 0.2
percent in April as forecast and a key gauge of core inflation
slowed, government data on Friday showed, but real spending
adjusted for higher inflation overall stagnated.
Reuters - Business activity in New York City
grew in May for the first time in four months, helped in part
by easing worry over credit conditions, according to an
industry report released on Friday.