Citigroup’s mortgage unit has agreed to pay $158.3 million to settle charges that it defrauded a U.S. government home loan insurance program.
Every Monday, The Takeaway looks at the big news stories from the week ahead. Republican presidential candidates head to Colorado, Minnesota and Maine this week; Colorado and Minnesota's caucuses are tomorrow. In Washington, President Obama holds talks on the European debt crisis with Italian Prime Minister Mario Monti while Congress takes up the STOCK Act.
This week, Mitt Romney and Newt Gingrich battle for votes in the Florida Primary. Republican candidates then move on to Nevada, where the state will caucus on Saturday. Both Florida and Nevada have a significant Latino population, and the candidates will likely use their campaigns to attract Latino voters across the United States. As the Republican candidates duke it out in Florida, the Senate will introduce the Stop Trading on Congressional Knowledge Act (STOCK Act), to prevent lawmakers from trading stocks based on information from Congressional briefings.
UPDATE: Mr. Mayor! It turns out you can say New York beat Boston when it comes to companies raising venture capital funds.
This week Congress returns from recess and Republican presidential hopefuls step up campaigning in South Carolina. Google, Microsoft, Citigroup, Wells Fargo, Goldman Sachs and Bank of America, along with other major companies, will announce earning reports. Myrtle Beach's visitors bureau welcomes the six GOP candidates for a debate with a 525-ton sand sculpture of their likenesses; meanwhile, Comedy Central's Stephen Colbert mulls throwing his hat into the ring.
This week marks the 1st anniversary of congresswoman Gabrielle Giffords' shooting, the 2nd anniversary of the Haiti earthquake, and the 10th anniversary of first Afghan prisoners arriving at Guantanamo Bay. New Hampshire's primary is this week — and so is the final stage of Egyptian parliamentary elections.
The “Goya” label can regularly be found on the shelves in supermarkets and bodegas. With more than 2,000 different products — from beans and olive oil to canned sardines and tropical fruit nectars — the company has grown in size lockstep with the increase in the nation’s Latino population.
Every Monday, The Takeaway looks at the big news stories from the week ahead. Christmas retail numbers and post-Christmas sales are expected to be stronger this year than in 2011. Heading into a presidential election year, voters will be looking to see how much the economy has improved. And the U.S. is not the only country that might see a shakeup in elected officials. Both China and Russia are likely to makes changes in leadership in the new year, as are a number of European countries.
The death of Kim Jong-il and the future of both North and South Korea will dominate the headlines this week. Also, Republicans and Democrats are about to have another showdown over a deal to extend payroll tax cuts. Charlie Herman, business and economics editor for The Takeaway and WNYC, and Takeaway Washington correspondent Todd Zwillich discuss the major stories for the week ahead.
Investment bank Morgan Stanley announced it will cut nearly 1,600 people after seeing business fall in its investment banking and trading divisions.
New York City is facing a dual threat to its budget this fiscal year: the euro and school contracts.
Every Monday, The Takeaway looks at the big stories that will dominate headlines in the week ahead. The euro zone may be on the brink of an agreement that will set into motion budget crunching measures throughout the continent. The GOP is heading into the home stretch in Iowa. And Congress looks to possibly pass a jobs bill.
After an eventful weekend, GOP presidential candidates are gearing up for the influential Iowa caucuses. Democrats on Capital Hill hope to pass a payroll tax cut in the face of Republican opposition. Abroad, the euro debt crisis continue to loom over the world economy. German Chancellor Angela Merkel and French President Nicolas Sarkozy are meeting ahead of the Brussels summit on Friday to discuss greater fiscal coordination between European countries, and Italy's new government looks to pass austerity measures to ease their debt.
Since President Obama introduced the American Jobs Act in September of this year, he has spoken publicly about it more than 50 times. The jobs report for November comes out this morning and the consensus call is that 125,000 new jobs were created this month. Charlie Herman, economics editor for The Takeaway and WNYC, speaks about the latest jobs numbers as well as specific economic and educational reforms that are trying — with mixed success — to remedy the situation.
Over the weekend, U.S. retail sales climbed 16 percent, hitting a record total of $52.4 billion, according to the National Retail Federation. The average shopper spent $398.62 during the holiday weekend. Despite these promising retail numbers, other economic indicators aren't as positive this week.
The week starts out on an ominous note as the Congressional "super committee" charged with reducing the national debt announces that they will not reach a deal. What went wrong during their negotiations, and where do we go from here? How will markets react? Also, the Euro crisis rages on as another government falls in Spain with the election of a new Conservative party. Finally, another GOP debate, the start of the holiday shopping season, and Thanksgiving traditions from Takeaway guests.
This week, all of the Republican presidential candidates are back on the campaign trail. Former speaker Newt Gingrich, Texas Governor Rick Perry, and Representative Michele Bachmann will all visit Iowa. Meanwhile, former Massachusetts Governor Mitt Romney heads to Florida, and Cain will be in Wisconsin. President Obama travels to Australia, steering clear of the Congressional "super committee" as its deadline to shave $1.2 trillion from the U.S. budget grows near.
As Greece negotiates a new unity government, Europe watches closely for signs of a widening crisis. In the U.S. a deadline for members of a congressional "Super Committee" to reach an agreement approaches. Meanwhile, a new book by Bill Clinton comes out this week, and it reportedly criticizes President Obama's decision not to raise the debt ceiling in 2010 when the Democrats still controlled the House of Representatives.