U.S. charges 41 in mortgage fraud scheme

Soros says U.S. economy will be drag on world growth (Reuters) October 15, 2009 at 10:32 pm Reuters - Billionaire investor and philanthropist George Soros said on Thursday that the world's current "currency arrangements" are fraught with danger and that the world needs global regulation. Firm: Calif. home sales up 1 percent from August (AP) October 15, 2009 at 9:26 pm AP - The number of homes sold in California last month ticked up last month from August, as low mortgage rates and eagerness to cash in on a soon-to-expire tax credit fueled activity in a normally sluggish time for home buying, a tracking firm said Thursday. Wasserstein death to result in $186.5 million payment (Reuters) October 15, 2009 at 9:12 pm Reuters - Former Lazard Ltd Chief Executive Bruce Wasserstein's death will result in a payment of more than $186 million in restricted stock, according to the company's proxy statement. BofA's Lewis 2009 pay cut, retirement under review (Reuters) October 15, 2009 at 8:16 pm Reuters - Bank of America Corp's departing chief executive, Kenneth Lewis, will receive no pay for 2009, but questions still linger about his $125 million retirement payout. Google, IBM round out strong tech results week (Reuters) October 15, 2009 at 7:01 pm Reuters - Google Inc and IBM rounded out a strong week of technology results, outstripping already high expectations and providing further evidence that a recovery is brewing. BofA's Lewis to receive no pay, bonus in 2009 (Reuters) October 15, 2009 at 6:17 pm Reuters - Bank of America Corp Chief Executive Kenneth Lewis will receive no pay or benefits for his last year of work at the company. IRS: Retirement contributions same for 2010 (AP) October 15, 2009 at 5:16 pm AP - The maximum contribution limits for your 401(k) and other retirement plans will stay the same next year, the IRS says. Gap to return to TV ads, expand into China (AP) October 15, 2009 at 2:25 pm AP - The apparel retailer Gap Inc. on Thursday announced plans to return to television advertising in November for its namesake brand, after a two-year hiatus, and said it will continue to expand internationally. U.S. charges 41 in mortgage fraud scheme (Reuters) October 15, 2009 at 2:21 pm Reuters - U.S. authorities charged 41 people in a suspected mortgage fraud scheme that cheated lenders out of more than $64 million on New York state properties, prosecutors said on Thursday. INSIDE WASHINGTON: Bank errors mar mortgage relief (AP) October 15, 2009 at 1:46 pm AP - Towana Gooch, a single mom who lives with her 10-year old daughter, was on the verge of losing her town house in suburban Maryland after her mortgage lender kicked her out of a government loan modification program. The problem, she says she was notified, was a 7-cent error. Citigroup takes $8 billion in credit losses (Reuters) October 15, 2009 at 11:06 am Reuters - Citigroup Inc posted a quarterly per-share loss as it suffered $8 billion of credit losses, raising questions about when the bank can return to sustained profitability. Woman wrongly accused of using fake bill settles (AP) October 15, 2009 at 10:35 am AP - A South Carolina woman wrongly accused by Target of using a fake $100 bill has settled a lawsuit with the retailer after an employee sent her picture to 75 businesses, claiming she tried to use counterfeit money, her attorney said Thursday. European, US stocks ease after mixed bank earnings (AP) October 15, 2009 at 10:20 am AP - European and U.S. stock markets drifted down Thursday after mixed bank earnings reined in the optimism that sent many of the world's major indexes to year highs the day before. 41 people charged in mortgage fraud in NY (AP) October 15, 2009 at 10:18 am AP - Federal authorities have charged 41 people in a mortgage fraud involving tens of millions of dollars across New York state. Google sparks e-books fight with Kindle (Reuters) October 15, 2009 at 9:51 am Reuters - Google plans to launch an online store to deliver electronic books to any device with a Web browser, threatening to upset a burgeoning market for dedicated e-readers dominated by Amazon's Kindle. Consumer prices edge up (Reuters) October 15, 2009 at 9:13 am Reuters - U.S. consumer prices rose marginally in September and the number of workers filing new claims for jobless insurance hit a nine-month low last week, more proof the economy was healing after a protracted recession. Goldman beats Street on big bond trading profits (Reuters) October 15, 2009 at 7:41 am Reuters - Goldman Sachs Group Inc posted better-than-expected quarterly earnings, fueled by outsized bond trading profits. Nokia swings to surprise loss (Reuters) October 15, 2009 at 7:09 am Reuters - The world's top cell phone maker Nokia surprised investors by taking a major writedown at its struggling networks unit and revealing a fall in its smartphone sales from the previous quarter. World markets cheer upbeat earnings news (AFP) October 15, 2009 at 7:06 am AFP - Global stock markets rose on Thursday, one day after Wall Street hit the highest level since October 2008 on a wave of positive company earnings news, dealers said. GM, Magna set to sign Opel deal, job talks continue (Reuters) October 15, 2009 at 6:17 am Reuters - U.S. carmaker General Motors was close to signing a deal to sell a 55 percent stake in its European arm Opel to Canada's Magna Thursday as talks continued with unions over job cuts. Stock index futures edge higher; results eyed (Reuters) October 15, 2009 at 5:50 am Reuters - U.S. stock index futures pointed to a slight increase in equities on Thursday after the Dow Jones Industrial average index (.DJI) pierced the 10,000 level in the previous session.