Homes as ATMs: It's starting again
Cash-out home refinances jumped 68 percent in the second quarter of this year compared to a year ago. Should we be worried?
MONEY (MSM)
Ben Bernanke: No hurry to hike
The former Federal Reserve chief also said there’s been too much reliance on the Fed, and other policymakers in the government need to step up.
American Apparel files for bankruptcy, operations to continue
American Apparel, one of the only clothing retailers still manufacturing in the United States, said its stores and manufacturing operations would continue to operate normally under a restructuring deal reached with most secured lenders. The big loser will be founder Dov Charney, who was fired as CEO in December for alleged misconduct, including misusing company funds and failing to stop a subordinate from creating blog posts that defamed former employees.
Newell Rubbermaid buying Elmer's for $600 million
Newell Rubbermaid is buying Elmer’s for about $600 million as it attempts to boost its back-to school sales. Elmer’s Products Inc. owns Elmer’s Krazy Glue and X-Acto. Newell, which in addition to containers, …
Disney Parks Consider Off-Peak Prices
For the first time in the 60 years since Disneyland opened, Walt Disney Co. is considering switching to demand-based pricing at its domestic parks, where tickets would cost less or provide added benefits on slower days and cost extra or come with more restrictions on dates when there tend to be too many people. “We have to look at ways to spread out our attendance throughout the year so we
U.S. announces $20 billion resolution with BP over 2010 oil spill
The United States on Monday announced a more than $20 billion settlement of federal and state claims against BP PLC over its deadly Gulf of Mexico oil spill five years ago. The agreement is “the largest settlement with a single entity in American history,” U.S. Attorney General Loretta Lynch said. The heads of the Environmental Protection Agency and the departments of Commerce and Agriculture joined her for the announcement.
Twitter gives co-founder Jack Dorsey a 2nd chance as CEO
Twitter is embracing Jack Dorsey as its CEO in hopes that its once-spurned co-founder can hatch a plan to expand the short messaging service’s audience and end nearly a decade of financial losses. The …
Peltz's Trian to pour $2.5B into GE in friendly deal
Trian, the $13B activist hedge fund run by Nelson Peltz, will unveil a roughly $2.5B investment in General Electric, the fund’s biggest deal to date.
Greek government to submit draft 2016 budget to parliament
Greece’s new coalition government is to submit its draft 2016 budget to parliament, which will include a series of reforms required under the country’s new three-year, 86 billion euro ($96 billion) international …
Paying CEOs fat bonuses for stock performance doesn't work — Cornell study
Offering bonuses to a CEO to improve shareholder returns doesn’t improve the company’s performance, according to a new study by Cornell University and consultants Pearl Meyer & Partners.