ABU DHABI, United Arab Emirates – Already home to a ski hill inside a mall, the sunbaked deserts of the United Arab Emirates soon may be home to a snow park too. Officials with Abu Dhabi’s Reem Mall, scheduled to ...Read More »
Author Archives: The Associated PressFeed Subscription
WASHINGTON (AP) — Average long-term U.S. mortgage rates rose sharply this week amid growing expectations that the Federal Reserve may soon raise its key short-term interest rate. Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage jumped to ...Read More »
NEW YORK (AP) — Two British ex-bankers were convicted Thursday of conspiring to manipulate the primary benchmark for global short-term interest rates so that their bank and fellow traders could earn higher profits. Anthony Allen, 44, shook his head as the guilty ...
Tagged with: interest ratesRead More »
NEW YORK (AP) — Expedia has stepped up its push to become a one-stop hub for all things vacation and travel with its planned buyout of HomeAway, a vacation-rental company. The $3.9 billion deal announced late Wednesday would further consolidate ...Read More »
WASHINGTON (AP) — Despite years of warnings that the nation’s roads, bridges and transit systems are falling apart and will bring nightmarish congestion, the House on Thursday passed a six-year transportation bill that maintains the spending status quo. The bill, ...
Tagged with: TransportationRead More »
WASHINGTON (AP) — Federal regulators say they’re still seeing a heavy dose of risk in large loans made by banks and other financial institutions, despite the recovering U.S. economy. The Federal Reserve and other agencies cite ongoing loose lending standards ...Read More »
NEW YORK (AP) — A former Goldman Sachs employee pleaded guilty Thursday to obtaining confidential information from a one-time co-worker at the Federal Reserve Bank of New York and distributing it to others at the investment bank. Rohit Bansal entered the plea in ...
Tagged with: Goldman SachsRead More »
DETROIT (AP) — A published report says some Detroit suburbs are buying tax-foreclosed homes and selling them to developers who flip them for profits. The Detroit News reports that the practice has prompted criticism that local officials are driving Wayne County residents from ...Read More »
WINSTON-SALEM, N.C. (AP) — A historic building in downtown Winston-Salem is getting a new name. The Winston-Salem Journal reports Kimpton Hotel & Restaurants confirmed Thursday that it’ll operate a 174-room boutique hotel on the bottom six floors of the former R.J. Reynolds Tobacco ...Read More »