Real Estate: Why home prices won’t bottom ou...

The U.S. home market is yet to fully start recovering. Problems continue to pressure it despite ten real estate markets leading the path towards general recovery and stability said the National Association of Realtors. The slow economic recovery resulted to new defaults and foreclosures after 5 continued quarterly drops. October foreclosures went 14% higher from 2nd to 3rd quarter, said Realtytrac. It may not be like the...

$3 Trillion in Savings Sought by Democrats

Democrats proposed a budget cut of up to $3 trillion that would affect long-term spending like Medicare. They also propose to increase taxes of up to $1.5 trillion to help aid the country’s financial troubles that may increase the national debt. Republicans, however, resist the proposal which they say is not serious. The November 2012 congressional and presidential elections could be dividing the two parties over taxes. The...

Obama Campaign Event Will Have Warren Buffett as H...

A Barack Obama campaign official said billionaire investor Warren Buffett agreed to head an event in Chicago to help raise funds for the U.S. president’s re-election bid in 2012. The $35,800 a ticket October 27 event will take place in a Chicago North Shore home where major donors from Obama’s 2008 presidential run are expected to attend. Inspiring the supposed Buffett Rule, Obama proposed a tax raise on the...

Man Pleads Guilty For Leaking iPad and iPhone Pre-...

Flextronics International’s ex-senior director Walter Shimoon on Tuesday plead guilty on claims that Primary Global Research paid him $200 hourly in exchange for Flextronics inside information to hedge funds. He said he provided specific non-public information. Flextronics’ U.S. representative Renee Brotherton made no comment about the guilty plea. Shimoon was arrested in December after he was accused of disclosing the...

Weak Factories Keep The Labor and Housing Market G...

June’s U.S. Mid-Atlantic factory movement was weak enough to overshadow hopeful labor and housing market readings. Thursday’s mixed reports reflected a still-struggling 2nd quarter economy but showed hope for the coming months. Economist Robert Dye said recovery is still in a soft patch that began in the 1st quarter and has extended. But at the same time, the first glimmers of evidence that the economy will find terra...

Study Reveals Discrimination of Care for Sick Kids...

A recent study showed that it takes too long before sick children under Medicaid or the Children’s Health Insurance Program get to see a specialist, if one is granted at all. Under private health insurance, the wait is shorter by 50%. The study was co-authored by University of Pennsylvania’s Dr. Karin Rhodes. She said they had an idea of the problem but not the magnitude of it. The June 16 issue of New England Journal of...

Parties Negotiate U.S. Deficit While Trying to Man...

More hurdles are encountered by debt talks as the Democratic and Republican negotiators try to reduce U.S. deficit. Vice President Joe Biden and top lawmakers may be divided by taxes and healthcare issues but have to find measures to save trillions of budget dollars. It will empower Congress to raise the $14.3 trillion debt cap to avoid a default. By August 2, the Treasury said without an increase, it may stop some payments....

31% Drop in Full-Year Profit Expected by Toyota

Toyota Motor Corp’s net income for a full year ending March 31 is expected to be 31% down from 408 billion yen to 280 billion yen ($3.5 billion) against analysts’ expectation of 422 billion yen. The surprise drop was caused by disrupted production following Japan’s March 11 earthquake. After the quake, Toyota said they saw a drop of 120 billion yen in global sales after factories and power plants were damaged. It may...