Financial news on June 22, 2013
Business and Financial news
Labor Department lists questions employees can ask a 401(k) plan administrator. Read more..
China's credit squeeze eases after lending resumes among banks, but financial markets remain under pressure as Beijing seems to be tackling poor lending practices; financial experts say they expect higher interest rates to persist for some time as Chinese government seems to have abandoned longstanding policy of responding to any hint of economic slowdown by expanding credit. Read more..
Facebook says it inadvertently exposed six million users' phone numbers and e-mail addresses to unauthorized viewers over last year, blaming technical flaw in its massive archive of contact information collected from its 1.1 billion users worldwide. Read more..
Paul Sullivan Wealth Matters says amount of unclaimed property in United States is rising, placing pressure on companies to find owners of dormant accounts; holds that while some companies can reunite heirs with unclaimed property, like insurance policies and utility deposits, it may be cheaper not to lose track of assets to begin with. Read more..
Markets calmed down on Friday, but tumbling stock, bond and commodity prices around the world have shown how reliant the global economy has become on the policies of the Federal Reserve. Read more..
Wall Street closed mostly higher after gyrating between gains and losses in a volatile Friday session after two days of sharp declines. Read more..
Monsanto officials say testing of United States wheat shows that presence of company's unapproved, experimental, genetically altered wheat in Oregon field is highly suspicious and is isolated incident that could not have happened through normal farming practices. Read more..
Property Assessed Clean Energy financing program is gaining traction across nation after years of fits, starts and unanticipated pitfalls; program, long-championed by White House, allows owners to borrow money for conservation or clean energy upgrades and pay it back over time through property tax surcharge. Read more..
Federal prosecutors ask judges in two states to authorize seizure of more than 3,200 cases of controversial workout products from warehouses operated by nation's largest specialty retailer of dietary supplements, GNC; products contain stimulant called dimethylamylamine, or DMAA, that Food and Drug Administration has warned could elevate blood pressure, potentially leading to heart attacks. Read more..