NEW YORK - Standard %26 Poor’s Ratings Services is considering slashing its rating on more than $500 billion of investments tied to bad mortgage loans, the ratings agency said Wednesday.The massive downgrade would threaten a broad swath of the world’s finance industry, S%26P said, ranging from Wall Street’s trading desks to regional banks to local [...]
WASHINGTON - In 2004, President Bush pledged that all Americans should have affordable access to high-speed Internet service by 2007. A report to be released Thursday by the administration says it has succeeded — mostly.”Networked Nation: Broadband in America” is an upbeat assessment of the administration’s efforts to spur growth and competition in the high-speed [...]
WASHINGTON - John Edwards bowed out of his second presidential bid saying he hoped the “two Americas” he speaks of so often, one for the haves and the other for the have-nots, could finally be united under a Democratic president. It won’t be him.”It is time for me to step aside so that history can [...]
ROCHESTER, N.Y. - The final cost of Eastman Kodak Co.’s four-year overhaul is in: $3.4 billion to close aged factories and eliminate 29,000 jobs as it raced to convert the bulk of its century-old business from silver-halide film to digital photography.Kodak said Wednesday it finished 2007 with a surge in its fourth-quarter profit, propelled chiefly [...]
WASHINGTON - Hillary Rodham Clinton and Barack Obama are locked in a drawn-out war of attrition for the Democratic presidential nomination, sure to be fighting for delegates beyond next Tuesday no matter who comes out ahead on the primary season’s biggest day.Still, it is a very big day — coast to coast and then some. [...]
NEW YORK - Get ready for another surge in gasoline prices.Experts are predicting pump prices, which jumped by almost a dollar a gallon in each of the last two springs in many parts of the United States, will spike again this year as refiners and gas stations switch from winter- to summer-blended fuels.The increases, starting [...]
MEXICO CITY - Mexico indicated Wednesday it expects the downturn in the U.S. will mean much slower growth this year for its own economy, which depends on its northern neighbor for the bulk of its trade and investment.The Treasury Department said it was lowering its forecast for Mexico’s 2008 economic growth to 2.8 percent from [...]
“Hopefully there are ways to deal with the budget without affecting the state-shared revenue,” he said.
Dunn ticked off developments in Chandler that are good news, including several projects under way throughout the Chandler Airpark, Avnet’s expansion, the mixed-use project Downtown Ocotillo, the opening of Intel’s Fab 32 and construction of a Hilton Hotel east [...]
Current Media is still small with just $64 million in annual revenue, but the involvement of the former U.S. vice president and Nobel Prize winner ensures the company’s IPO will attract plenty of attention.
Gore helped create Current Media in 2002 and still plays a prominent role as a major shareholder and the company’s executive chairman. [...]
The development comes as authorities in New York and Connecticut investigate whether Wall Street banks hid crucial information about high-risk loans bundled into securities that were sold to investors.
Power said federal authorities are looking into the practices of so-called subprime lenders, as well as potential accounting fraud committed by financial firms that hold [...]
