House Republicans investigating the collapse of MF Global placed responsibility for the firm's demise on former Democratic senator and New Jersey Governor Jon Corzine. He was MF Global's CEO. The firm still owes its customers an estimated $1.6 billion.
President Obama travels to New York Thursday to get a first hand look at the continuing recovery efforts and lingering damage from Hurricane Sandy. Damage and lost economic activity from the storm have been estimated as high as $50 billion. State officials and lawmakers from the affected region say they intend to tap the federal government for as much assistance as possible.
This week marks the start of Mark Thompson's tenure as the new chief executive officer at the New York Times Co. It is facing financial head-winds, and is hoping Thompson can recapture some of the success he enjoyed in leading the BBC. But there's concern within the Times that its new leader has been tainted by scandals at his old employer.
An online petition is urging Macy's to stop selling its line of Donald Trump branded clothing. The petition says the department store should sever ties with Trump because he is offensive, sexist and hypocritical. But a Macy's spokesperson insists its merchandise and marketing do not represent any political position.
After President Obama's news conference today, he moved on to a meeting with the CEOs of a number of big corporations to talk about avoiding the fiscal cliff. We're going to talk now with one business leader who has advised the White House in the past, although he was not at today's meeting. Gary Loveman is the CEO of Caesars Entertainment, the worldwide casino company. He's been a member of President Obama's export council, and he's also part of the Fix the Debt campaign. Welcome to the program.
At the White House, President Obama will hold his first East Room news conference since March on Wednesday. He's expected to talk about the nation's fiscal condition, as well as the scandal that has cost him his CIA director.
The word nonprofit evokes the image of a charity or a church, an educational institution, public radio station. But David Evans of Bloomberg Markets Magazine took a closer look at the world of nonprofits and discovered something that he considered suspicious. Even though many nonprofits make millions and millions in profits, they pay no taxes.