Finance news

Icelanders rejected by a massive majority a bill that would saddle each citizen with $16,400 of debt in protest at U.K. and Dutch demands that they cover losses triggered by the failure of a private bank.
Ninety-three percent voted against the so-called Icesave bill, according to preliminary results on national broadcaster RUV. Final results […]

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WASHINGTON — If the Democratic Party has an stronghold on Wall Street, it is JPMorgan Chase.
Its chief executive, Jamie Dimon, is a friend of President Barack Obama’s from Chicago, a frequent White House guest and a big Democratic donor. Its vice chairman, William M. Daley, a former Clinton administration Cabinet official and […]

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Stocks seesawed Monday as investors eyed a weak dollar, higher commodity prices and a selloff in technology shares ahead of the start of the quarterly reporting period, which began after the closing bell with Alcoa.
The Dow Jones industrial average (INDU) gained 46 points, or 0.4%. The S&P 500 index (SPX) added 2 points, or […]

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The past decade has been brutal for Canadian investors who doggedly held on to the top 500 U.S. stocks.
Even after last year’s government-orchestrated economic recovery, and after tallying up dividends, they would have lost about a third of the money they invested at the end of 1999.
Last year, and the first day of trading this […]

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A key measure of consumer confidence rose for a second straight month in December, a research group said Tuesday, with outlook for the next few months reaching a 2-year high.
The Conference Board, a New York-based research group, said its Consumer Confidence Index rose to 52.9 in December, from an upwardly revised 50.6 in November.
Economists […]

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Yacht exporters are riding a weaker dollar and reduced prices to new markets, while domestic sellers are seeing signs that the market’s doldrums are coming to an end.
Yacht exports to Northern Europe were healthy before the recession since the dollar was still weaker than the Euro. But the international financial tidal wave left fewer buyers, […]

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The Santa Clara Valley Transportation Authority will reduce its operating budget $15 million next year and defer purchase of new buses as it continues to grapple with a $70 million budget deficit over the next two years.
Members of the board of directors of VTA — which provides bus, light rail and paratransit service throughout Santa […]

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A year ago, as Britain’s property market began to collapse, housebuilder Persimmon Plc owed 960 million pounds ($1.6 billion). Today, Chief Financial Officer Michael Killoran has slashed that debt by 58 percent.
“It’s safety first,” he said. “With the uncertainty in the markets currently, companies want to be carrying a lower level of gearing.” […]

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For Christy Harp, a math teacher from Ohio, it was a great year for competitive gourd growing — her 1,725-pound giant pumpkin shattered the world record by more than 30 pounds.
But that achievement is a lone bright spot in the Midwestern world of pumpkins. In Morton, Ill., the "Pumpkin Capital of the World," […]

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The chairman of the U.S. Senate Banking Committee introduced a financial regulation reform bill on Tuesday that leaps beyond earlier proposals, calling for new government agencies on financial stability, bank supervision and financial consumer protection.
Senator Christopher Dodd, a Democrat, released the bill after intense closed-door negotiations, raising the ante in a debate over tighter […]

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