Swiss bank UBS reported a 58 percent decline in profit for its second quarter. Some of the losses are tied to Europe's debt crisis, as well as the botched Facebook IPO. Also Tuesday, Germany's Deutsche Bank said its second-quarter earnings slid 63 percent.
There has been much grousing on social media about NBC tape-delaying marquee Olympic events until its prime-time broadcast. Twitter users say it's a "stone-age" model, but NBC says it needs to protect its $1.8 billion investment. So far, ratings are up.
Housing, the sector that led us into the recession, now looks to be one of the brighter spots in the economy. Homebuilding is at its highest level in nearly four years. More homes are selling, and at higher prices.
The question, of course, is whether this is a solid enough foundation to sustain a full housing recovery.
Lawrence Yun, the chief economist for the National Association of Realtors, says housing woes are largely behind us.
Spotting a con artist isn't usually this easy. Allen Stanford was recently sentenced to 110 years in a $7-billion fraud, but a new book suggests the Ponzi business continues to thrive.
Credit Dave Einsel / Getty Images
Ponzi schemes get a lot of attention when big ones go bust. Bernie Madoff, of course, got a ton of attention when his $20-billion con collapsed in late 2008. So did Allen Stanford, who was recently sentenced to 110 years in prison for scamming investors out of more than $7 billion over two decades.
Calls continue for boycotts of Chick-fil-A, while supporters are organizing a national "buycott." But Chick-fil-A is far from the only business to incorporate political or religious values into their business — or to stumble or jump into the culture wars in the process.
One of the slogans on a T-shirt sold to raise money for the care of Arijit Guha.
It's a diagnosis nobody in grad school would ever expect.
Arijit Guha, who's working on a doctorate at Arizona State, felt sick after coming back from a trip to India in early 2011. His severe stomach pain, which he thought was probably from a bug he caught on the journey, turned out to be caused by colon cancer. He was 30.
The Fed doesn't literally print money, but it can create more if it wants to try to spur the economy.
Credit Paul J. Richards / AFP/Getty Images
August is supposedly a quiet month on Wall Street, in Washington, D.C., and for business and finance generally. Except sometimes it isn't — and it's always the run-up to September, which can be pretty eventful in itself (think 2008 and the collapse of Fannie Mae, Freddie Mac and Lehman Bros.).
So this week is shaping up to bring August in like a lion, with several potentially significant economic developments already on the calendar.
The public transport authority received complaints about train etiquette. New billboards poke fun at bad manners, featuring Frenchmen with giant animal heads: a donkey spitting out gum, a frog leaping the turnstile, a chicken clucking loudly on her cellphone.
Forget about the difference in economies among the states. In Idaho, there are drastic differences from county to county. Agriculture is booming, while the timber industry is hurting — and the counties that depend on those industries show it. Molly Messick of StateImpact Idaho explains.
An epic battle between the two biggest smartphone makers begins Monday in a federal district court in San Jose, Calif., where computing giant Apple is asking for more than $2.5 billion from rival phone maker Samsung for patent violations.
The suit would be the most expensive patent violation in history, and it's just one front in Apple's war against phones running Google's Android operating system.