money

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Buffett Holdings Tie Gates To Darfur Crisis

Berkshire owns $3.3B stake in firm said to fund militia

(Newser) - A Berkshire Hathaway investment in a Sudanese oil company is posing thorny problems for the Gates Foundation, the Los Angeles Times reports. Warren Buffet's investment outfit is the largest independent shareholder in PetroChina, whose parent company the U.N. and U.S. say funds Sudan's janjaweed militia—a stark contrast...

Murdoch Muses On Plans for The Journal

“I’m sometimes frustrated by the long stories," would-be owner says

(Newser) - Rubert Murdoch sometimes finds Wall Street Journal stories a little long. He'd like to see more politics on the editorial page, and to launch a glossy magazine for the Saturday edition. The Aussie tycoon wasn't shy about sharing plans for the paper, should he succeed in buying parent company Dow...

Bush Officials Killed Proposal For Student Loan Reform

Education Department under Bush is cozy with the loan industry, critics say

(Newser) - Bush officials killed a proposal to clamp down on sleazy practices in the student loan industry in 2001, the Washington Post reports. The proposals, drafted under Clinton and circulated to the Bush team, was aimed at curbing the kind of abuses now being investigated, in which loan companies pay universities...

Economy Slumps to 4-Year Low
Economy Slumps to 4-Year Low
Apr 27, 2007 11:11 AM CDT

Economy Slumps to 4-Year Low

Weak home sales, high oil prices drive slowdown

(Newser) - The country's economic growth has dwindled to its lowest rate in four years, with the housing slowdown, high energy prices, and a looming trade deficit driving lower-than-expected numbers released today. The economy grew 1.3% in the first quarter of 2007, down from 2.5% in the last three months...

Public Binge Predicted for Private Equity

Carlyle chief: All the big players will do IPOs within 5 years

(Newser) - Private equity giant Carlyle Group will likely go public within five years, its co-founder said at a conference yesterday. David Rubenstein predicted a sea-change for the industry, as fund founders cash out before they retire, the FT reports.

Euro Bank Giants to Merge
Euro Bank Giants to Merge
Apr 23, 2007 9:23 AM CDT

Euro Bank Giants to Merge

RBS, regulators may rain on Barclays-AMB AMRO parade

(Newser) - Britain's Barclays Bank and Dutch bank ABN Amro have agreed to merge, creating one of the world's largest banks. The $90 billion deal is far from a sure thing, however—it requires approval by shareholders and regulators, and a group led by Barclays' archrival, the Royal Bank of Scotland, has...

Dollar Gets Pounded
Dollar Gets Pounded
Apr 18, 2007 11:53 AM CDT

Dollar Gets Pounded

As the pound passes $2, Brits expected to flock to U.S.

(Newser) - The British pound hit a 26-year-high against the dollar this morning, triggering inflationary fears there as it pushed past $2 for the first time since Margaret Thatcher's early reign. As  inflation figures spiked to 3.1% in March—the highest  in 10 years—the middle class got hit the hardest,...

Senate Eyes Hedge Fund Tax Breaks
Senate Eyes Hedge Fund Tax Breaks
Apr 17, 2007 1:27 PM CDT

Senate Eyes Hedge Fund Tax Breaks

Bill limits pretax earnings managers can invest in their offshore funds

(Newser) - The Senate has an eye on extraordinary tax breaks that have allowed hedge fund managers to sock away hundreds of millions of dollars tax free, using their funds like giant pension schemes, the Times reports. Managers who run offshore funds can re-invest earnings in their own funds, deferring taxes for...

Obamas Aren't Millionaires —This Year

Tax returns show drop in candidate's income, mostly royalties

(Newser) - Barack and Michelle Obama unveiled their 2006 federal income tax return yesterday, offering a peek into the wallet of one of the least affluent presidential aspirants. The couple reported $983,826 in taxable income in 2006—a comedown from 2005's $1.6 million.

Tax Code Spurs Llamapalooza
Tax Code Spurs Llamapalooza
Apr 5, 2007 9:29 AM CDT

Tax Code Spurs Llamapalooza

The upper crust is using alpaca farming as a huge tax write-off

(Newser) - Some very ulikely agrarians—doctors, lawyers, computer programmers—have spurred a huge boom in alpaca farming in the last few years, not for the profits, of which there are rarely any, but for the huge tax write-offs. "What can't I write off?" Manhattanite Rob Bruce says. "I write...

The Rich Get Dumber
The Rich Get Dumber
Apr 4, 2007 12:24 PM CDT

The Rich Get Dumber

(Newser) - The more powerful you become, the more oblivious you get, Richard Conniff argues in today's Times, as he takes a gander at explaining a recent spate of high-profile celebrity mishaps ($1.5 million totalled Ferrari, anyone?). Connif points to research at Berkeley that suggests power brings "disinhibition"—more...

Feds Sue Tax Preparers for Fraud
Feds Sue Tax
Preparers for Fraud
Apr 4, 2007 11:45 AM CDT

Feds Sue Tax Preparers for Fraud

(Newser) - Tax preparers Jackson Hewitt have bilked the government out of more than $70 million, alleges a suit filed yesterday by the Justice Department. The suit claims that over 125 of the company's franchises, all owned at least in part by the same Atlanta businessman, engaged in massive tax fraud.

Mitt Throws Money at Former Critics
Mitt Throws Money at Former Critics
Mar 11, 2007 4:02 PM CDT

Mitt Throws Money at Former Critics

Just before announcing, Romney made hefty donations to conservative groups

(Newser) - Mitt Romney has been lining the coffers of conservative groups whose support he'll be seeking in his presidential bid. Late last year, just two months before he announced his candidacy, Romney gave five-figure personal donations to four Massachusetts groups, David Kirkpatrick of the New York Times reports—groups to which...

Billionaire's Club Welcomes New Members

The Forbes rich list is bigger—and even wealthier—than ever

(Newser) - The rich are getting richer, younger, and more geographically diverse, Forbes reports, with the number of billionaires up a whopping 19 percent, and their total worth up 35 percent to $3.5 trillion. Not only have billionaires been galloping away from the pack, they've been doing it earlier, bringing the...

Greenspan Sees Recession
Greenspan Sees Recession
Mar 6, 2007 11:04 AM CST

Greenspan Sees Recession

Former fed chairman forecasts end of cycle as early as this year

(Newser) - Back when bankers and investors hung on his every word, Alan Greenspan was caution itself in public pronouncements . But yesterday the former chairman  took the rare step of predicting the onset of an out-and-out recession. Speaking via satellite to a business conference in Hong Kong, Greenspan said the US. economy...

Bernanke Buoys Dow
Bernanke Buoys Dow
Mar 6, 2007 11:04 AM CST

Bernanke Buoys Dow

Global markets continue to fall

(Newser) - U.S. stock prices rebounded yesterday, buoyed by Fed Chairman Ben Bernanke's forecast of moderate growth. But averages from Singapore to London continued to slide and there was widespread debate over whether the plunge was the market correcting for inflated highs or if it was the first sign of a...

Stories 241 - 256 | << Prev