Business News

Twitter Facing Two Lawsuits

ABJ – Oct. 30 – It took quite a bit more than 140 characters but Twitter Inc. has been informed it is now facing two lawsuits for $124 million after papers were filed today in U.S. District Court in New York City.  ...
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Hyundai Issues U.S. Recall

ABJ – Oct. 21 – Hyundai Motor Co. is recalling about 27,500 Genesis sedans in the United States from model years 2009 to 2012 to address a potential brake issue. The South Korean automaker is recalling the cars to replace the brake ...
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JPMorgan Reaches Deal with U.S. Justice Dept.

ABJ – Oct. 21 – JPMorgan Chase has reached a $13-billion agreement with the Federal Justice Department to settle bad mortgage loans the bank sold to investors before the 2008 financial crisis. The tentative deal does not release ...
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Debt Crisis Resolved – Temporarily

ABJ – Oct. 17 – Once again it came down to the 11th hour, but eventually Democrats and Republicans were able to reach a temporary solution that will allow the United States to pay its debt on time, removing risk of a default for the ...
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U.S. House Voting on Debt Deal

U.S. Senate leaders struck a bipartisan 11th-hour deal to break the fiscal impasse earlier today, and just as importantly the Republican-led House of Representatives agreed to take it up as Congress moved to avert a historic debt default. Payment for the ...
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U.S. Debt Deal Could Be Near

ABJ – Oct. 14 – Senators have provided optimism for a settlement to the month long stalemate in Congress over a new spending deal that will be necessary by Oct. 17 in order for the country to avoid defaulting on a $6 billion interest payment.  ...
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Debt Deal Could Be Near

ABJ – Oct. 11 – A new Republican plan is now on the table that may be the catalyst needed to avert a looming U.S. default. It would be a temporary six-week bridge, but would ensure the world’s largest economy doesn’t default on a scheduled ...
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Shutdown Nearing Short-term Agreement

ABJ – Oct. 10 – It appears as if the ice is thawing between the Democrats and Republicans on word there has been a fair amount of movement on agreeing to a short-term spending increase in the U.S. federal government’s borrowing authority. Such a move ...
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Obama Nominates Yellen For Fed Chair

ABJ – Oct. 9 – The White House has nominated Janet Yellen as chair of the Federal Reserve. Many financial analysts would argue it’s the single-most important job in world finance. The job not only directly affects the economy of the United States but carries ...
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Alcatel-Lucent Cutting 10,000 Jobs

ABJ – Oct. 8 – Alcatel-Lucent is cutting 10,000 jobs worldwide in what its chief executive calls a last chance to turn the telecom equipment maker around from heavy losses. The product of a 2006 Franco-U.S. merger aimed at creating a global ...
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