Officials at the Federal Reserve, the FDIC and the SEC signed off on new banking rules Tuesday. Under the so-called Volcker rule, banks will be barred from trading in their own accounts, but will still be able to buy and sell on behalf of clients. Big investment banks will no longer be able to own hedge funds or private equity firms. The new regulations took more than three years to complete.
In the male-dominated world of cars and trucks, Mary Barra put herself into the driver's seat. On Tuesday, General Motors chose Barra, the daughter of a Pontiac plant worker, to become its new chief executive. Analysts say she may bring fresh ideas about how to sell autos to women.
The once-sleepy tourist town of Noel, Mo., in the heart of the Ozark Mountains, is now home to hundreds of immigrants and newly arrived refugees, thanks largely to the huge Tyson Food Inc. poultry plant. And since the town lacks the infrastructure to serve these new residents, schools have become the de facto safety net.
The once-sleepy tourist town of Noel, Mo., in the heart of the Ozark mountains, is now home to hundreds of immigrants and newly arrived refugees, thanks largely to the huge Tyson Food, Inc., poultry plant. And since the town lacks the infrastructure to serve these new residents, schools have become the de facto safety net.
Putting a little extra money in your pocket might be as easy as looking around your house. Experts say there's a treasure trove of unwanted items you can easily sell to the highest bidder. Guest host Celeste Headlee speaks with personal finance guru Alexa von Tobel about earning extra holiday cash from home.
The national unemployment rate dropped to seven percent recently - the lowest level in five years. But things are going the other way in Puerto Rico: unemployment is at nearly 15 percent. Guest host Celeste Headlee talks to Rosario Rivera, economics professor at The University of Puerto Rico, and Michael Fletcher of The Washington Post, about why Puerto Rico's dismal economy may be a problem for everyone, especially if the Commonwealth defaults.
BP is challenging hundreds of millions of dollars in claims that were filed after the 2010 oil spill in the Gulf of Mexico, saying some have no connection to the spill. But legal experts say the claims don't have to be spill-related and BP is relying on a friendly court to limit how much it will pay.
Federal regulators on Tuesday unveil and vote on a final version of the so-called Volcker Rule. It's part of the Dodd-Frank regulatory overhaul and prohibits banks from trading stocks, bonds and derivatives for their own accounts. Defining what the rule covers has taken years of work.
Many Americans who live in rental properties can't keep up with the cost of higher and higher rents, according to a new study by Harvard's Joint Center for Housing Studies. The report finds that half of U.S. renters spend more than 30 percent of their income on rent. David Greene speaks with Chris Herbert, one of the report's authors, about why there isn't more affordable housing.