money

Greece Makes Progress on Bailout
By Chris Williamson
March 9, 2012 - 1:29pm
New development will help other European nations as well

Greece's private investors have come to an agreement to restructure €172 billion worth of Greek bonds. This amount represent 85.5 percent of the total €206 billion held by the private sector according to the Greek finance ministry.

According to CNN, 69 percent of investors that are owners of Greek bonds not given out through Greek law agreed to restructure €20 million.  

And Greek Finance Minister Evangelos Venizelos wlecomed the agreement and said that the private sector creditors are taking a big burden off of Greek citizens.  

President Obama Announces Plan to Ease Financial Stress for Students
By Lauren Bradley
October 27, 2011 - 3:15pm
"Know Before You Owe" aims to help students pay off loans

Many college graduates struggle with getting a job after they receive their diploma. Not having a job also hinders the ability to pay off student loans. MSNBC reports that college loan debt has become a bigger issue for families than credit card debt. President Barack Obama plans to help reduce the economic burden by making loans easier to pay off.

What it means for students

Apple to pay Steve Jobs $37.91
By Tim Killian
December 9, 2010 - 5:55pm
Apple has filed a claim that it owes its CEO Steve Jobs $37.91 in undisclosed property

Apple has filed a claim with the state of California saying it owes its CEO, Steve Jobs, $37.91, according to CNN. The CEO of the multibillion-dollar company, Apple, will receive just under $40 in an undisclosed claim of Apple property.

Bernanke: poor outlook for job creation
By Kevin Belbey
December 6, 2010 - 11:56am
Top economist says it could be years before America is back to a normal unemployment rate.

Just a few days after the government released a report saying only 39,000 jobs were added in November and the unemployment rate rose to 9.8 percent, more bad news comes from Federal Reserve Chairman Ben Bernanke. According to CNN, Bernanke told 60 Minutes: "At the rate we're going, it could be four, five years before we are back to a more normal unemployment rate."

CA Businesses Awaiting Prop. 19 Vote
By Tony Jondreau
October 26, 2010 - 9:55pm
Businesses in California have already begun preparing for the passage of Proposition 19. The measure, which would regulate cannabis like alcohol, could be a huge source of revenue for the state and for businesses that acquire licenses to sell it.

The devil’s weed is slowly becoming legitimate business.  Proposition 19 in California would legalize the personal possession of cannabis for adults 21 or older, but it would also allow businesses to sell it.  And some people in the business world are already looking to take advantage of that, according to The New York Times.

Britain announces radical budget cuts
By Stephanie Tardugno
October 20, 2010 - 10:17am
FIghting its massive debt, the UK announced major budget and spending cuts on Wednesday.

The British government revealed the country’s steepest public spending and budget cuts in decades on Wednesday, according to The New York Times. These budget cuts will sharply reduce welfare benefits, raise the retirement age earlier than planned and eliminate almost half a million public sector jobs over the next four years as the country seeks to free itself of crushing debt from the global financial crisis, the report said.

7.3 billion in losses for Bank of America
By Carson Daniels
October 19, 2010 - 10:41am
Bank of America has reported a net loss of $7.3 billion in the third quarter, a 77 cent loss per share. This is a jump from 26 cent loss per share from last year.

The nation's largest bank is feeling a great loss. On Tuesday Bank of America reported a net loss of $7.3 billion, according to CNN.com.

Money spent on campaign ads expected to be record breaking
By Adam Feldfogel
October 6, 2010 - 3:55pm
The spending on television ads for candidates is expected to reach $3 billion by Election Day.

 Televisions all over the country have been taken over by campaign ads recently, and each one makes a dent in a candidate's wallet.  According to the New York Times, political candidates are on track to set a record for the most money spent on TV campaign ads ever.  By Election Day, totals are expected to reach $3 billion, eclipsing the previous record of about $2.7 billion set during the 2008 elections.

Verizon to refund 15 million customers
By Kevin Belbey
October 4, 2010 - 12:15pm
Millions of Verizon Wireless customers are set to receive refunds after incorrect charges.

Verizon Wireless customers will be receiving rebates after Verizon said they incorrectly charged tens of millions of dollars to customers for data they didn't use, according to CNN. The charges, which could be around $50 million in total, are believed to have affected at least 15 million customers.

Gas prices rise in Syracuse
By Kevin Belbey
October 4, 2010 - 11:44am
Gas in the Syracuse area has gone up about a nickel a gallon in the past week.

Gas prices in the Syracuse area rose to $2.80 for a gallon of regular on Sunday, according to The Post-Standard. However, despite prices rising to about five cents more per gallon in the area, the Syracuse market still has the lowest average for regular gas in the state.