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Volcker Rule faces protests of local, foreign governments

Posted: February 28th, 2012, 3:35pm EST by Zachary A. Goldfarb, Howard Schneider

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A new federal rule aimed at limiting risky behavior by banks is prompting protests from local and foreign governments alike, which warn it could make it harder for them to borrow money for public projects and operations.
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GAO: Overlapping government programs cost billions

Posted: February 28th, 2012, 3:04pm EST by Ed O'Keefe

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The federal government is doing a poor job of coordinating its responsibilities in dozens of areas, including food safety, breast cancer research, assistance to small business owners and home buyers and background investigations for federal job applicants — a disorganization that could be costing taxpayers tens of billions of dollars annually, according to a new report.
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Apple confirms media event for March 7, likely for iPad

Posted: February 28th, 2012, 12:31pm EST by Hayley Tsukayama

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Apple has sent out invitations for a March 7 media event at the Yerba Buena Center for the Arts in San Francisco.

While the company didn’t specify that the event is for the iPad, the invitation reads: “We have something you really have to see. And touch,” along with a picture of someone using an iPad.
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China cautious on euro bailout

Posted: February 28th, 2012, 9:47am EST by Keith B. Richburg

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BEIJING – The ritual is now familiar. European officials meet with Chinese leaders seeking assurances of help for the continent’s debt crisis. During smiling photo ops, the Chinese respond with the requisite promises to assist.
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Google unified privacy settings unsettle users

Posted: February 27th, 2012, 9:10pm EST by Cecilia Kang

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Google, I wish I knew how to quit you.

That’s the frustration felt by Patience O’Connor, who has put much of her sensitive personal and professional information on Gmail and other Google programs and doesn’t want the company to use that data to create a detailed profile of her.
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Run the numbers, and there’s nothing dynamic in Romney’s budget strategy

Posted: February 27th, 2012, 6:19pm EST by Ezra Klein

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The federal budget is fairly simple. I can explain it to you in fewer than 30 words: Most of the money comes in through taxes and borrowing. The vast majority of it is then spent on programs for the old, programs for the poor and defense. That’s pretty much it.
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When to call it quits: Taking your business off life support

Posted: February 24th, 2012, 1:56pm EST by Chris J. Snook

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As entrepreneurs, we hope for instant prosperity. Realistically, we know overnight successes are few and far between, so we plow on. We work so hard that we sometimes fail to see that our venture’s already gasped its last breath.

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Google names former GOP House member Susan Molinari to head D.C. office

Posted: February 23rd, 2012, 3:50pm EST by Cecilia Kang

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Google on Thursday named former Republican congresswoman Susan Molinari to head its Washington lobbying and policy office, as the search giant fights scrutiny by federal regulators over antitrust and privacy issues.
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Google names former GOP House member Susan Molinari to head D.C. office

Posted: February 23rd, 2012, 3:50pm EST by Cecilia Kang

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Google on Thursday named former Republican congresswoman Susan Molinari to head its Washington lobbying and policy office, as the search giant fights scrutiny by federal regulators over antitrust and privacy issues.
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Posted: February 23rd, 2012, 3:50pm EST

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Posted: February 23rd, 2012, 3:50pm EST

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Obama: Opponents are ‘rooting for bad news’ on gas prices

Posted: February 23rd, 2012, 3:10pm EST by David Nakamura

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CORAL GABLES, Fla. — President Obama defended his energy policies Thursday in the face of rising gas prices, saying there are no “quick fixes” to protect consumers and lashing out at political rivals who blame him for the spike.
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Obama: Opponents are ‘rooting for bad news’ on gas prices

Posted: February 23rd, 2012, 3:10pm EST by David Nakamura

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CORAL GABLES, Fla. — President Obama defended his energy policies Thursday in the face of rising gas prices, saying there are no “quick fixes” to protect consumers and lashing out at political rivals who blame him for the spike.
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Mortgage rates jump higher; 30-year at 3.95 percent

Posted: February 23rd, 2012, 10:06am EST by J.D. Harrison

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Mortgage rates rose this week after holding steady for three consecutive weeks at an all-time low, according to data released Thursday by Freddie Mac.

The average 30-year fixed rate mortgage rose to 3.95 percent, marking a 0.8-point increase from the record-low 3.87 posted each of the first three weeks of the month. The average 15-year rate also increased from 3.16 percent last week to 3.19 percent.
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Mortgage rates jump higher; 30-year at 3.95 percent

Posted: February 23rd, 2012, 10:06am EST by J.D. Harrison

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Mortgage rates rose this week after holding steady for three consecutive weeks at an all-time low, according to data released Thursday by Freddie Mac.

The average 30-year fixed rate mortgage rose to 3.95 percent, marking a 0.8-point increase from the record-low 3.87 posted each of the first three weeks of the month. The average 15-year rate also increased from 3.16 percent last week to 3.19 percent.
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Report: Billions in federal small-business contracts go to large firms

Posted: February 23rd, 2012, 8:00am EST by Olga Khazan

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Here are just a few of the companies that were considered a small business in the past year: Apple, Chevron, Verizon, Bank of America and Disney. At least, that’s what one advocacy group found when it perused the Federal Procurement Data Systems for government contracts for the past year.
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Report: Billions in federal small-business contracts go to large firms

Posted: February 23rd, 2012, 8:00am EST by Olga Khazan

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Here are just a few of the companies that were considered a small business in the past year: Apple, Chevron, Verizon, Bank of America and Disney. At least, that’s what one advocacy group found when it perused the Federal Procurement Data Systems for government contracts for the past year.
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Report: Debt will swell under top GOP hopefuls’ tax plans

Posted: February 23rd, 2012, 5:01am EST by Lori Montgomery

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The national debt is likely to balloon under tax policies championed by three of the four major Republican candidates for president, according to an independent analysis of tax and spending proposals so far offered by the candidates.
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Report: Debt will swell under top GOP hopefuls’ tax plans

Posted: February 23rd, 2012, 5:01am EST by Lori Montgomery

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The national debt is likely to balloon under tax policies championed by three of the four major Republican candidates for president, according to an independent analysis of tax and spending proposals so far offered by the candidates.
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Voluntary guidelines for Web privacy backed by Obama administration

Fetched: February 23rd, 2012, 3:50am EST by Cecilia Kang

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The Obama administration on Thursday announced voluntary guidelines for Web companies to protect consumers’ privacy online, a win for Google, Facebook and other Internet giants that have fought against heavier federal mandates.
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U.S. ‘doesn’t see the need’ to pump up IMF

Posted: February 22nd, 2012, 8:22pm EST by Howard Schneider

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The world’s economic powers won’t consider pumping more money into the International Monetary Fund until Europe puts up more cash to battle its own problems, Lael Brainard, undersecretary of the Treasury for international affairs, said ahead of key meetings in Mexico this weekend.
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Replacement-window firms agree to settlement with Federal Trade Commission

Posted: February 22nd, 2012, 8:22pm EST by Dina ElBoghdady

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Five companies that sell replacement windows agreed to stop making “exaggerated and unsupported” claims about their products’ energy efficiency as part of a settlement announced Wednesday by the Federal Trade Commission.
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T-Mobile, public interest groups ask FCC to stop Verizon’s deal with cable firms

Posted: February 22nd, 2012, 8:22pm EST by Cecilia Kang

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T-Mobile and public interest groups on Tuesday urged the Federal Communications Commission to block Verizon Wireless’s spectrum and marketing deal with cable firms, saying the transaction would lead to less competition and higher wireless service fees for consumers.
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SEC: China-based coal mining company Puda an empty shell, defrauded investors

Posted: February 22nd, 2012, 6:59pm EST by David S. Hilzenrath

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Through stock offerings in the United States, investors poured $115 million into a China-based coal mining company that was actually an empty shell, the Securities and Exchange Commission said Wednesday.
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‘Amazon loophole’ to close in Virginia

Posted: February 22nd, 2012, 6:19pm EST by Laura Vozzella

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In a victory for traditional brick-and-mortar retailers, Amazon agreed to collect and pay sales tax on purchases made to Virginians.

Gov. Robert F. McDonnell’s office announced Wednesday that an agreement had been reached between his office, the online retailing giant, small businesses and several members of the General Assembly, which has been considering legislation to close the so-called Amazon loophole.
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More Wawa stores to creep closer to D.C.?

Posted: February 22nd, 2012, 5:03pm EST by Katie Rogers

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Nothing is set in stone yet, but the vice president of Wawa Inc. says there are high hopes to expand the magical touch-screen hoagie experience to the Washington region.

“We have several sites in the works,” Peter Gilligan told Washington Business Journal’s Missy Frederick. “We’re looking to fill out the D.C. and Baltimore corridor, both in Northern Virginia and Maryland.”
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Apple’s big chance to ‘act different’ on labor

Posted: February 22nd, 2012, 4:15pm EST by Joshua Topolsky

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There’s been quite a bit of controversy swirling lately around iPhones and iPads — not about whether the products are good, or whether Google or Microsoft can beat Apple at its game. The questions, rather, have centered on just where Apple’s products come from and how they’re made.
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iPad trademark dispute shows troubles of doing business in China

Posted: February 22nd, 2012, 2:44pm EST by Sarah Halzack, Hayley Tsukayama

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To most global consumers, the iPad is practically synonymous with American electronics titan Apple.

But one debt-ridden company in China, Proview, is alleging that it is the rightful owner of the trademark for the name of one of Apple’s signature devices. The claim has resulted in government officials yanking the tablet from store shelves in some Chinese cities, despite high demand for the product.
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High-frequency trading raises concerns at SEC

Posted: February 22nd, 2012, 1:50pm EST by David S. Hilzenrath

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The chairman of the Securities and Exchange Commission is worried about the rise of high-frequency trading, but two years after the agency flagged the phenomenon as a potential problem, Chairman Mary L. Schapiro says regulators still don’t know enough to do much more about it.
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Posted: February 22nd, 2012, 1:50pm EST

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Alexandra Petri: Google’s cyborg glasses

Posted: February 22nd, 2012, 1:27pm EST by Alexandra Petri

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Sometimes I worry that modern technology’s only impact has been to make us, as a culture, indistinguishable from crazy homeless people.

“Who is that guy walking down the street muttering to himself?”

“He’s got a BlueTooth headset,” your interlocutor responds. Taken word by word, this does not clear up the subject much, but at least it does not sound like the sort of thing you would make up out of thin air.
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Obama proposes lowering corporate tax rate to 28 percent

Posted: February 22nd, 2012, 1:08pm EST by Zachary A. Goldfarb

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President Obama proposed a major overhaul of the nation’s corporate tax code on Wednesday, an election-year gambit that aims to draw a contrast over a key policy issue with the Republicans vying to replace him.
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Greek plan could mean exile from investors

Posted: February 22nd, 2012, 11:37am EST by Howard Schneider

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The private debt relief plan negotiated for Greece might make it impossible for the nation to borrow money for years to come and leave it dependent for that much longer on its neighbors or the International Monetary Fund, the IMF warns in an analysis of the new rescue program.
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How companies can save money if employees work from home

Posted: February 21st, 2012, 6:01pm EST by Jason Oh

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In this economy, more and more companies are re-evaluating their current IT infrastructure and going back to basics to cut costs and save energy.
Even though technology is fast and ever changing, CEOs, CIOs and IT managers need to ensure their companies are technologically efficient in addition to being technologically advanced. Lack of energy efficiency costs U.S. companies more than $28 billion annually, according to a report conducted by 1E and the Alliance to Save Energy, a nonprofit organization that promotes worldwide energy efficiency to achieve a healthier economy.
Companies could save millions of dollars by instituting a few, easy-to-implement energy fundamentals. Here are some tips to help you get a better handle on your energy consumption costs:
●Migrate from desktop to laptops. Making this switch provides the flexibility for your employees to work off of battery power for a portion of the time instead of always being plugged into an electrical outlet. Simply by unplugging from the grid, depending on where you’re located, you could save up to $100 in energy costs per computer every year.
●Drain the battery, not your earnings. If your company has migrated to laptops, ensure that they are configured properly to maximize battery power. Having the ability to work off battery power means nothing if the computer is still plugged in all day. If you own a mid-sized company, you could be seeing up to 25 percent of the money you spend on powering your endpoints (laptop, PC, etc.) wasted by keeping your computers tethered to an outlet.
Install software that manages power to laptops when the battery level reaches a certain charge. Use of such software can reduce power consumption by as much as 80 percent. This can equal an annual savings of up to $25 for each of your organization’s computers. And this number is sure to grow as energy prices continue to rise.
●Utilize time-based PoE (Power over Ethernet) optimization. Turning PoE on or off on your network switch based on a schedule saves power and, therefore, money. When PoE devices are not in use (i.e. during the night, or on the weekend) PoE can be disabled until needed.
There are also IT security benefits to using time-based PoE optimization. There is no way you can have a 100 percent secure network/systems unless you unplug everything from your power source. Time based PoE takes care of that for you. No power means no security holes, which is especially important given the continued reliance on wireless IT components.
●Install a smart grid. This system predicts and intelligently responds to the behavior and actions of all electric power users connected to it. The electrical grid supplies power, lights, heating/air conditioning, etc. only to the users’ workspaces currently working at a given time. Like a programmable home thermostat that can monitor itself, the smart grid will save you money and time by turning on and shutting off IT components as dictated by your power supply needs.
●Enable your employees to telework. Obviously, this cuts down on big office energy and overhead expenses. Imagine the savings if you allow staffers in a 1,000-person call center to work from home.
With an IP contact center solution, those people can telework but still equally distribute/load balance calls intelligently. This not only means you will save on power but overall building maintenance.
●Follow the government’s lead. Currently before Congress, the Energy Savings & Industrial Competitiveness Act of 2011 (ESICA) is “a bill to promote energy savings in residential and commercial buildings and industry.” If passed, it would dictate that federal agencies develop a plan for “using advanced tools that promote energy savings such as computer hardware, energy efficiency software and power management tools.”
The goal is to save the American taxpayer millions a year in wasted IT energy costs, but it would also open a vast new market for both hardware and software developers of efficient and cost saving power management solutions.
So this year, power management and reducing energy costs are going to be key themes for IT department heads. The CIOs who are more focused on efficiency are going to survive while the ones who aren’t, won’t.
With many sectors of the economy still struggling to get back on track, not having a comprehensive power management plan is something you literally can’t afford to ignore.
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Negotiators reach deal; vote expected soon on $150B economic package

Posted: February 16th, 2012, 2:24am EST by Paul Kane

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Congressional negotiators gave final approval early Thursday to an economic plan worth more than $150 billion that would extend a payroll tax holiday and unemployment benefits.

A key roadblock was overcome when the lawmakers agreed to require new federal workers to contribute more to their pension plans, clearing the way around 12:30 a.m. for a majority of the House-Senate conference committee to begin signing onto the deal.
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FCC treading lightly after LightSquared debacle

Posted: February 15th, 2012, 8:00pm EST by Cecilia Kang

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The Federal Communications Commission’s decision to yank its support for satellite firm LightSquared all but ends that company’s effort to launch mobile services, analysts say.

Now comes the hangover.

FCC officials say they still have faith that satellite technology can be used to create wireless networks rivaling those of AT&T and Verizon Wireless. But analysts say the agency will step more carefully this time, after being burned by congressional investigations, feuds with other federal agencies and two years of work wasted on LightSquared.
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SEC accuses investment manager in Ohio of fraud

Posted: February 15th, 2012, 7:14pm EST by David S. Hilzenrath

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An Ohio investment manager is in trouble with the Securities and Exchange Commission for the second time in three years.

First, he was accused of defrauding clients and was ordered to give up his ill-gotten gains.
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Privacy controversy over Path for iPhone, iPad should be a wake-up call

Posted: February 15th, 2012, 6:32pm EST by Joshua Topolsky

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For a country seemingly obsessed with reality television and tabloid journalism, the United States is suddenly very worried about privacy. And I’m not talking about celebrity privacy; I’m talking about your privacy.
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European debt crisis: Greek bailout talks are complicated by looming deadline

Posted: February 15th, 2012, 5:56pm EST by Michael Birnbaum

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ATHENS — As European leaders haggled Wednesday over how and whether to keep Greece from spinning into uncontrolled bankruptcy next month, one factor was not negotiable: the sheer passage of time, which is complicating efforts to ease Greece’s debts.
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Homeowners get more time for foreclosure reviews

Posted: February 15th, 2012, 5:18pm EST by Brady Dennis

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Federal regulators have announced that they would give borrowers who have faced foreclosure since early 2009 an additional three months to have their cases reviewed for potential wrongdoing.

Borrowers will now have until July 31 to apply for the free review, which stems from a deal last year in which 14 servicers agreed to hire independent consultants to evaluate whether homeowners suffered financial injury during the foreclosure process. If a review finds errors or abuses by the financial firms, the consultants will determine what recompense wronged homeowners deserve.
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Posted: February 15th, 2012, 5:18pm EST

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Obama, GOP candidates more hopeful about factory jobs

Posted: February 15th, 2012, 5:06pm EST by Michael A. Fletcher, David Nakamura

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For years, politicians have delivered the same grim message to the nation’s long-suffering manufacturing heartland: Many of the jobs are gone, shipped overseas, never to be seen again.

In his 2008 presidential campaign, Sen. John McCain (R-Ariz.) famously — and ill-advisedly — told Michigan voters that the jobs “are not coming back. . . . And I am sorry to tell you that.” President Obama said as much during a 2009 visit to the state.
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Questions grow over who will replace World Bank chief Robert Zoellick

Posted: February 15th, 2012, 4:42pm EST by Brady Dennis, Howard Schneider

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The World Bank on Tuesday announced that President Robert Zoellick would step down when his five-year term expires in June, triggering questions about where the longtime Republican stalwart will end up next and who will replace him at the international financing institution.
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Xi calls for stronger trade relationship between China and U.S.

Posted: February 15th, 2012, 4:30pm EST by Howard Schneider

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Chinese Vice President Xi Jinping on Wednesday urged greater cooperation with the United States on trade and security issues, what he called a “new type of relationship between major countries.”

Xi, Expected to rise to the presidency of a country emerging as a world economic and political power, spoke in Chinese before an audience of 600 top U.S. corporate and political leaders at the Marriott Wardman Park in Washington.
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Fed officials open to stimulus action, minutes show

Posted: February 15th, 2012, 2:12pm EST by Zachary A. Goldfarb

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The Federal Reserve is actively considering major new action to boost the economy, but it still may not pull the trigger unless the fledging economic recovery stalls, according to minutes of the central bank’s January meeting released Wednesday.
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Reports say iPad may shrink, but what’s your ideal tablet size?

Posted: February 15th, 2012, 8:59am EST by Hayley Tsukayama

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Let’s face it, there are a lot of tablets out there. It goes beyond iOS or Android now. There are so many form factors to choose from that it’s getting to be a terrible headache to decide what’s the best for you.
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Greece, even with bailout help, faces massive debt

Posted: February 14th, 2012, 9:25pm EST by Howard Schneider

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Europe’s proposal for a new bailout of Greece would pump $170 billion into the country in the next three years and slice the value of the Greek bonds held by private investors by more than half.

But even if all goes well, the country would still labor under a mountain of debt that it may not be able to afford. If Greece misses its economic growth targets by even a small amount, this new bailout would run aground, international debt experts and analysts said.
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Congressional negotiators reach tentative deal on payroll tax, unemployment benefits

Posted: February 14th, 2012, 8:17pm EST by Paul Kane, David Nakamura

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Congressional negotiators reached a tentative deal Tuesday to extend a payroll tax holiday, unemployment benefits and Medicare payment rates for doctors, while finding more than $50 billion in cuts to reduce the effect on the federal deficit.
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Posted: February 14th, 2012, 8:17pm EST

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FCC to pull plug on Falcone’s LightSquared

Posted: February 14th, 2012, 8:00pm EST by Cecilia Kang

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Federal officials on Tuesday struck a major blow to satellite venture LightSquared, saying the government plans to revoke initial permission it granted for the company to operate as a mainstream high-speed wireless network.
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Fed approves Capital One deal

Posted: February 14th, 2012, 5:42pm EST by Danielle Douglas

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The Federal Reserve announced Tuesday its approval of McLean-based Capital One Financial Corp.'s proposed $9 billion purchase of online bank ING Direct.

The decision comes nearly nine months after Capital One agreed to pay $6.2 billion in cash and $2.8 billion in stock to Dutch financial services firm ING Groep NV for the online bank.
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Wheaton development’s $40 million price tag sparks petition

Posted: February 14th, 2012, 2:48pm EST by Jonathan O'Connell

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Throughout the ups and downs of Washington real estate, Wheaton has maintained a stable of locally owned funky and unique restaurants and small businesses. Consider Full Key for shrimp dumpling soup or Barry’s Magic Shop for “The Ultimate Vanishing Coin.”
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Report: Yahoo calls off talks on Asia deal

Posted: February 14th, 2012, 2:02pm EST by Hayley Tsukayama

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Yahoo has reportedly broken off talks with its partners in Asia to work out a deal to drop its holdings in China and Japan and save Yahoo over $4 billion in U.S. taxes.

All Things Digital’s Kara Swisher reported Tuesday that “sources close to the situation” have said that the discussions have reached an impasse. Those sources blame Yahoo for changing its demands.
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Report: Chinese hackers breach Nortel networks

Posted: February 14th, 2012, 10:44am EST by Hayley Tsukayama

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Hackers working from China have reportedly had access to Nortel’s networks since breaching the telecommunication company’s networks as far back as 2000. According to a report from the Wall Street Journal, hackers stole seven passwords from Nortel’s top executives, granting them access to reports, business plans, employee e-mails and other documents.
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How soccer brings Wall Street to a grinding halt

Posted: February 14th, 2012, 10:31am EST by Brad Plumer

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How popular is soccer? Popular enough to bring financial markets to a halt, it seems. A new paper (pdf) from the European Central Bank finds that during the 2010 World Cup, the number of stock trades plunged an average of 45 percent in countries whose teams were playing at the time. (A goal caused a further 5 percent drop.) “We conclude,” write Michael Ehrmann and David-Jan Jansen, “that stock markets were following developments on the soccer pitch rather than in the trading pit.”
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Small business optimism edges up, still trails 2011 levels

Posted: February 14th, 2012, 9:19am EST by J.D. Harrison

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On the bright side, small business confidence didn’t decline last month. But it certainly didn’t improve much, either.

The National Federation of Independent Business’ small business optimism index inched up by the smallest of margins – just 0.1 point – in January, marking the fifth consecutive month of improvement and settling the index at 93.9. However, the index remains at recession levels and continues to lag in year-over-year comparisons.
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Report: ‘iPad 3’ coming March 7; Apple tests smaller screen

Posted: February 14th, 2012, 8:46am EST by Hayley Tsukayama

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As we get closer to the expected launch of Apple’s next iPad, reports about the device and when it will launch continue to build.

One report taking the rumor mill by storm comes from the blog iMore’s Rene Ritchie, who says that Apple’s planning its next launch event for March 7. Ritchie cites sources “who have been reliable in the past.”
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Wonkbook: Is the GOP's payroll offer a cave or a trap?

Posted: February 14th, 2012, 6:59am EST by Ezra Klein

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There are two interpretations of the Republican offer to extend the payroll tax cut without any offsets or preconditions. Interpretation the first: Huge cave by the GOP! Interpretation the second: Look out, Democrats! It's a trap!
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Antitrust officials approve sale of Motorola Mobility to Google

Posted: February 13th, 2012, 9:02pm EST by Jia Lynn Yang

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U.S. and European antitrust officials approved Google’s acquisition of Motorola Mobility on Monday, clearing the way for the search giant to not only manufacture its own phones but also, more importantly, gain a much bigger patent portfolio.
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Posted: February 13th, 2012, 9:02pm EST

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Obama budget: Price tag for Wall Street bailout goes up

Posted: February 13th, 2012, 8:28pm EST by Jia Lynn Yang, Zachary A. Goldfarb

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The Obama administration has repeatedly boasted how the historic rescue of Wall Street will cost taxpayers far less than originally expected. But the budget proposal released Monday came with some unwelcome news: The price tag of the bailout is suddenly going up.
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CFPB outlines plans for mortgage servicers

Posted: February 13th, 2012, 8:18pm EST by Ylan Q. Mui

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The government’s new consumer watchdog on Monday outlined the first steps of its plans to regulate mortgage servicers, which have come under fire for fraudulent foreclosure practices.

The Consumer Financial Protection Bureau will revamp the billing statements sent to homeowners and the disclosures required for some complicated mortgages. It also is drafting new rules to prevent servicers from improperly charging consumers for homeowner’s insurance.
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FHA a beneficiary in mortgage settlement

Posted: February 13th, 2012, 8:01pm EST by Brady Dennis

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The landmark $25 billion settlement with banks last week over fraudulent foreclosure practices might aid more than struggling homeowners. Part of the proceeds also will help plug a projected shortfall in the reserves of the Federal Housing Administration.
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Obama’s 2013 budget would probably hurt the Washington area economy

Posted: February 13th, 2012, 7:56pm EST by Ed O’Keefe

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Much as slumping box office sales hurt Hollywood and lower car sales upend Detroit’s economy, a leaner federal spending plan would probably slow the Washington region’s economy.

Economists predict that the local area will grow more slowly in the coming years, largely because of the kind of pullback in government spending proposed by President Obama on Monday and advocated by many on Capitol Hill.
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Facebook’s IPO: A study in arrogance

Posted: February 13th, 2012, 6:33pm EST by Allan Sloan

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There’s something to be said for being a fossil when it’s time to look at a phenomenon like Facebook’s pending stock offering. The medium is new, the numbers are high, the buzz is huge, but it’s the same old story I’ve seen a million times in four decades of business writing: A hot company is graciously offering the investing public a piece of its action. At a hot high price, of course.
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Obama budget would double bank tax size

Posted: February 13th, 2012, 1:51pm EST by Jia Lynn Yang

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President Obama's budget plan calls for a bank tax twice as big as the one he proposed last year, a further sign he wants to make anti-Wall Street sentiment a major part of his re-election campaign.

The bank tax, also known as the "Financial Crisis Responsibility Fee," first appeared in Obama's 2011 budget and was projected to raise $90 billion over 10 years. A year later, in the wake of the mid-term elections and accusations from executives that Obama was "anti-business," the White House cut the proposal by two-thirds to just $30 billion.
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Google $12.5 billion acquisition of Motorola Mobility gains European approval

Posted: February 13th, 2012, 11:50am EST

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SAN FRANCISCO — Google’s $12.5 billion acquisition of cellphone maker Motorola Mobility has won approval of European antitrust regulators, moving Google one step closer to completing the biggest deal in its 13-year history.
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China’s president-in-waiting heads to Washington for a visit crucial to both nations

Posted: February 13th, 2012, 9:45am EST by William Wan

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The man who is expected to become China’s next president will arrive in Washington on Monday for a visit crucial to his political ascension and also to U.S. hopes for easing the mounting tensions between two of the world’s most powerful nations.
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Apple shares hit $500 for the first time

Posted: February 13th, 2012, 9:44am EST by Hayley Tsukayama

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Apple shares broke $500 for the first time on Monday, jumping 25 percent in six months after the hot tech stock passed the $400 mark in July.

The stock opened at $499.53, immediately jumped to $501 and continued to hover around the $500 mark in morning trading. As of 10:30 a.m., the stock was trading around $498 per share.
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Review: Sony PlayStation Vita handheld gaming system

Posted: February 13th, 2012, 9:00am EST by Joshua Topolsky

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In just a few days, Sony will make an unusual bet in a world where the appeal of many new devices is their versatility. On Feb. 22, the company will release a dedicated handheld gaming system called the PlayStation Vita into the market — probably the most advanced of its kind.
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As Congress examines members' trading, an echo from a bygone era

Posted: February 13th, 2012, 6:59am EST by David S. Hilzenrath

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A construction company working on a huge federally funded project sold stock to members of Congress at discounted prices.

The company, Credit Mobilier, hoped to enrich lawmakers and protect itself from damaging legislation, documents show.
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Community banks and credit unions brace for end of Fannie, Freddie

Posted: February 12th, 2012, 8:36pm EST by Danielle Douglas

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As the Obama administration forges ahead this spring with plans to wind down mortgage giants Fannie Mae and Freddie Mac, community banks and credit unions are bracing for the impact.

The government-sponsored entities are the most active buyers on the secondary market for residential mortgages, where a growing number of small financial institutions sell the home loans they originate. Private investors remain largely inactive in acquiring mortgages, leaving originators to question how the industry will function without government support.
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Air Force pares contracts in cost-reduction move

Posted: February 12th, 2012, 7:38pm EST by Nick Taborek

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Exelis, Computer Sciences Corp. and Raytheon risk losing $3 billion in rocket-launch revenue during the next decade as the U.S. Air Force consolidates contracts to reduce costs.

The Air Force plans to save at least 5 percent by eliminating redundancies in three maintenance and engineering contracts, Christina Sukach, a spokeswoman for the Air Force Space Command, said in an e-mail.
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Posted: February 12th, 2012, 7:38pm EST

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The debate over capital gains has consequences for local budgets

Posted: February 12th, 2012, 6:04pm EST by Abha Bhattarai

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The debate over capital gains taxes taking place on the national stage in the run-up to this year’s presidential elections could have major implications for local and state governments in the Washington region, economists say, particularly if the Bush tax cuts are allowed to expire.
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NASA’s science missions bring the universe into sharper focus even as agency struggles with manned flight

Posted: February 11th, 2012, 11:36pm EST by Joel Achenbach

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Life is tough these days at NASA, the space agency that can’t launch anyone into space.

It wrestles with basic questions: Where to go? How to get there? When? And for what purpose?

It killed a plan to return to the moon and now is building a jumbo rocket to go to . . . well, it’s unclear. Maybe to an asteroid: a rock to be named later.
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Talk with your spouse now about retirement plans

Posted: February 11th, 2012, 11:00pm EST by Michelle Singletary

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There are many reasons I agreed to marry my husband, but one thing that clinched it for me was his answer to a question I asked early in our courtship.

“Where do you see yourself when you retire?” I wondered.
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What D.C. doesn’t need: a Trump Tower

Posted: February 11th, 2012, 10:48pm EST by Steven Pearlstein

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They are two of Washington’s architectural and historical gems: The Old Post Office Pavilion on Pennsylvania Avenue and the Smithsonian Arts and Industries Building on the Mall. The good news is that both are slated for renovation and what the bureaucrats like to call “re-purposing.” The bad news is that, in both cases, the process is headed in the wrong direction.
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U.S. bishops blast Obama’s contraception compromise

Posted: February 11th, 2012, 10:41pm EST by David Brown

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After initially telegraphing optimism about President Obama’s decision Friday to amend the religious exemption for mandatory birth-control and sterilization coverage, the U.S. Conference of Catholic Bishops has declared total opposition to any compromise on the issue.
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Farmers to plant most acres since 1984, prompted by higher crop prices

Posted: February 11th, 2012, 9:32pm EST by Jeff Wilson, Whitney McFerron

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U.S. farmers will plant the most acres in a generation this year, led by the biggest corn crop since World War II, taking advantage of the highest agricultural prices in at least four decades.

They will sow corn, soybeans and wheat on 226.9 million acres, the most since 1984, a Bloomberg survey of 36 farmers, bankers and analysts showed. The 2.5 percent gain means an expansion the size of New Jersey as growers target fields left fallow last year and land freed up from conservation programs.
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What’s the Deal? This week’s best travel bargains around the globe.

Posted: February 11th, 2012, 9:24pm EST by K.C. Summers, Andrea Sachs

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This week’s best travel bargains around the globe.

Hilton Los Cabos Beach & Golf Resort, on an inlet along Mexico’s Gulf of California, has a fifth-night-free offer, plus a $50 daily resort credit, free-night certificate for a future stay, and 10 percent spa and restaurant discounts. With the 10th Anniversary Package, rates start at $239 double per night. A five-night stay for two people in late May comes to $1,198, including fees and taxes, down from $1,482. You must use the free night by Dec. 20. Info: 888-290-6852, www.hiltonloscabos.com.
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Less than meets the eye at Facebook

Posted: February 11th, 2012, 9:10pm EST by Barry Ritholtz

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Facebook is valued at “plenty”

By Wall Street’s tech cognoscenti,

Take 1 billion friends

Times 5 dollars, then

Times IPO multiple: 20!
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Sign that bond market backs 3rd quantitative-easing round? Check Huggies’ price.

Posted: February 11th, 2012, 9:00pm EST by John Detrixhe, Cordell Eddings

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Procter & Gamble’s failure to raise the price of Cascade dishwashing soap shows why investors are buying Treasuries at the lowest yields in history, giving the Federal Reserve more scope to boost the economy.
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Fashion Week: Will work in Washington?

Posted: February 11th, 2012, 6:34pm EST by Janet Bennett Kelly

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The fashion industry has kicked off its eight-day extravaganza of designer shows for fall 2012.

Runway styles rarely translate exactly to the street, but our litmus test for these collections is whether the clothes will be appropriate dress for District-area denizens. Would a K Street lobbyist, Capitol Hill staffer or labor lawyer wear it to the office or don it for cocktails at Cork? We’ll evaluate Fashion Week’s looks and red- or green-light it for D.C.
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In China, will transition bring real change?

Posted: February 11th, 2012, 2:27pm EST by Keith B. Richburg

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BEIJING — As measured by China’s state-run media, the country’s leadership transition is already well underway.

Vice President Xi Jinping, who will move up to Communist Party general secretary later this year and president of China in 2013, has appeared prominently on the front page of China Daily in recent weeks, signing ping pong paddles with former president Jimmy Carter, toasting the 40th anniversary of President Nixon’s visit to China, and being welcomed with honors in Thailand and Vietnam.
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2012 GMC Acadia Denali: One for the long haul

Posted: February 11th, 2012, 1:58pm EST by Warren Brown

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Automobile companies invest considerable resources in naming their products. The results often include stylistic spellings and celebrations of conflated imagination. Thus, we have “infinity” spelled “Infiniti,” with both signifying boundless possibilities, and, in the case of this week’s subject vehicle, a masterful mixture of meaning — the Acadia Denali.
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IEA lowers forecast for global oil consumption

Posted: February 10th, 2012, 10:38pm EST by Steven Mufson

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The International Energy Agency Friday shaved its forecast for global oil consumption, citing the slowdown in world economic growth.

The IEA said it expects oil consumption to rise a relatively meager 800,000 barrels a day, or 0.9 percent, in 2012, according to its latest monthly market report. That would be 300,000 barrels a day less than the IEA forecast just a month ago.
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Obama’s 2013 budget proposal looks to tame national debt

Posted: February 10th, 2012, 9:19pm EST by Lori Montgomery

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President Obama will send Congress a 2013 spending plan that would raise taxes on the rich and pump nearly $500 billion into new transportation projects over the next decade, launching an election-year debate over the budget that promises starkly different visions for managing government debt and the sluggish economy.
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U.S. says it wants investment, but China remains wary

Posted: February 10th, 2012, 9:12pm EST by Keith B. Richburg

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BEIJING — As China moves to invest billions in businesses around the world, one major industrial nation has so far soaked up very little of the cash: the United States.

The issue will be on the agenda next week during Vice President Xi Jinping’s official visit to the United States. The Obama administration has made seeking Chinese investment a priority, with an eye toward creating more American jobs. But the flow of funds dropped sharply last year, and experts say the task is complicated by a perception that the United States is an unfriendly place for Chinese investors.
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Consultant suggests changes to Energy Department’s loan reviews in the wake of Solyndra

Posted: February 10th, 2012, 9:11pm EST by Steven Mufson

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A White House consultant’s report said Friday that the Energy Department should bolster its ability to assess loan guarantee risks in the wake of the Solyndra bankruptcy, and urged the department to “aggressively strengthen its position” before more borrowers turn to the government for relief.
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For SEC, investigating insider trading in Congress presents complications

Posted: February 10th, 2012, 9:06pm EST by David S. Hilzenrath, Kimberly Kindy

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Financial regulators have built an elaborate computer apparatus to scan stock markets for signs of insider trading, but the radar isn’t pointed at Congress.

Instead, it is designed to detect more conventional forms of insider trading — a corporate lawyer acting on advance word of a merger or an accountant leaking details about a company’s earnings. A senator who calls his broker after receiving a closed-door briefing might not even raise a blip.
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Greece reels after leaders agree to harsh spending cuts

Posted: February 10th, 2012, 8:55pm EST by Michael Birnbaum

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BERLIN — Greeks clashed on the streets of Athens and in the halls of government Friday, as protesters grew violent and one after another cabinet minister resigned, a day after the nation’s leaders accepted foreign lenders’ demands for tough austerity cuts to try to stave off bankruptcy.
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Success of health reform hinges on hiring 30,000 primary care doctors by 2015

Posted: February 10th, 2012, 8:51pm EST by Sarah Kliff

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On a chilly afternoon at a community clinic in Southeast Washington, three young doctors are busily laying the foundation for the health-care law’s success.

Jacob Edwards flips through a manual on skin conditions, diagnosing a rash that looks like chicken pox. Jessica O’Babatunde consults her supervisor on treating an adolescent’s obesity, which is literally off-the-charts. And Julie Krueger peppers 3-year-old Daphauni with questions at her physical: How do you spell your name? What did you eat for breakfast? What’s your favorite vegetable? (Cheese.)
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Starker exchange lets you defer capital gains taxes on investment real estate

Posted: February 10th, 2012, 6:52pm EST by Benny L. Kass

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Last in a series.

“Taxation with representation ain’t so hot either.” — Gerald Barzan, humorist

If you own investment property, and you sell it this year, you will have to pay 15 percent capital gains tax to the Internal Revenue Service.
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LivingSocial: More than just a coupon company?

Posted: February 10th, 2012, 6:45pm EST by Thomas Heath

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LivingSocial snapped up its latest deal for $3 million: the renovation of a historic Penn Quarter building where it will set up an experimental retail “experience” space.

After a dramatic remodeling of the six-story, 120-year-old former insurance building at 918 F St. NW, the company will host small dinners by big-name chefs, intimate concerts and other productions in an effort to carry it beyond its business model of online daily deals, which some critics say lacks long-term potential.
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In Egypt’s bread, signs of economic weakness

Posted: February 10th, 2012, 5:50pm EST by Stephen Glain

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There is no more potent symbol of Egypt’s economic fragility than the pocket bread that is a staple of life here.

Every day, the Egyptian government allocates 25-pound bags of subsidized flour to designated bakeries to produce the Frisbee-shaped loaves, which Egypt’s impoverished and working poor buy for about eight cents per 10 loaves. But sometimes, there is not enough to go around.
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Posted: February 10th, 2012, 5:50pm EST

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Ellen DeGeneres and the suddenly cool JC Penney

Posted: February 10th, 2012, 5:15pm EST by Carla Baranauckas

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In the blink of an eye, JC Penney has become cool.

Yes, that retailing behemoth that has been the home of all things functional but unhip across the decades is suddenly almost as cool, in a corporate way, as Apple.
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Apple worth more than Google, Microsoft combined

Posted: February 10th, 2012, 3:44pm EST by Hayley Tsukayama

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Apple’s been having a great week in the stock market and is now hovering at $495 per share as of noon Friday. The rally on the market also gave the Cupertino, Calif.-based company some additional bragging rights: As of Thursday morning, Apple’s market cap was bigger than the values of Google and Microsoft combined.
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Smartphones’ remote shutdowns would reduce robberies, Lanier says

Posted: February 10th, 2012, 3:44pm EST by Clarence Williams, Cecilia Kang

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Police chiefs everywhere say that smartphone robberies are rocketing. They’ve offered cash rewards, set up decoy crews in subway stations and urged iPhone owners to be wary.

But the robberies keep coming. Now, police in the Washington area and elsewhere are expressing their frustration in plain terms, publicly asking regulators and wireless-network operators to allow stolen devices to be shut down remotely through unique identification numbers within them.
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Is the unemployment rate misleading?

Posted: February 10th, 2012, 10:10am EST by Suzy Khimm

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Floyd Norris pushes back against the claim the falling unemployment rate put out by the Bureau of Labor Statistics is misleading because it doesn’t count the growing number of people who’ve given up looking for work:
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Washington home prices fall one percent in January

Posted: February 10th, 2012, 10:00am EST by Sara Kehaulani Goo

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The median price of Washington area home sales fell 1 percent to $310,000 in January 2012, compared with the same period a year ago, but segments of the market showed signs of strength, even though overall inventory levels remain limited.
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Small business owners not expected to opt out of health care reform

Posted: February 10th, 2012, 8:00am EST by J.D. Harrison

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Only a few employers will take advantage of rules allowing some small businesses to avoid pending health reform measures, rendering the rules relatively obsolete and minimizing their impact on health insurance costs, according to new analysis and simulations conducted by health policy researchers.
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Settlement launches foreclosure reckoning

Posted: February 10th, 2012, 1:52am EST by Brady Dennis, Sari Horwitz

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The government’s $25 billion settlement Thursday with banks over fraudulent foreclosure practices begins a long-promised reckoning with the financial industry over its role in the worst economic crisis since the Great Depression, officials said.
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Rep. Bachus faces insider-trading investigation

Posted: February 9th, 2012, 9:30pm EST by Scott Higham, Dan Keating

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The Office of Congressional Ethics is investigating the chairman of the House Financial Services Committee over possible violations of insider-trading laws, according to individuals familiar with the case.
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Posted: February 9th, 2012, 9:30pm EST

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Tech firms try to convince regulators that they’ll play nice with patents

Posted: February 9th, 2012, 8:53pm EST by Jia Lynn Yang

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With the Justice Department on the cusp of allowing two major acquisition deals among technology companies, the firms involved — including giants Google, Apple and Microsoft — are trying to reassure regulators that their battles over intellectual property won’t harm the industry.
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Steve Jobs’s unflattering FBI file mentions drug use, 2.65 GPA

Posted: February 9th, 2012, 8:48pm EST by Hayley Tsukayama

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Even before the world knew him as a genius, the FBI had the book on Steve Jobs.

In a 1991 background check, the FBI pegged Apple’s co-founder as brash and unlikable and noted his early drug use.

Most tellingly, the agents, evaluating Jobs for an appointment under President George H.W. Bush, said acquaintances found him to have a peculiarly driven nature.
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Italy’s Mario Monti makes the case for growth

Posted: February 9th, 2012, 6:56pm EST by Howard Schneider

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Italy’s efforts to curb public debt will be for naught unless the nation’s economy starts growing again, Prime Minister Mario Monti said Thursday in calling for Germany and other European nations to turn their focus to economic renewal.
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The real price tag for stimulus: Between $1 trillion and $1.7 trillion

Posted: February 9th, 2012, 3:51pm EST by Ezra Klein

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There’s been a lot of discussion over whether we should have had a smaller or larger stimulus package. But a lot of these arguments leave a key question unanswered: How much stimulus did we actually pass?
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Report: ‘iPad 3’ coming first week of March?

Posted: February 9th, 2012, 3:03pm EST by Hayley Tsukayama

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Waiting for Apple’s next tablet? You may not have to wait long. According to a report from All Things Digital’s John Pacszkowski, the next iPad is coming in the first week of March.

Given that release date, it’s not clear when the new device would hit stores, but Paczkowski estimates that it would be around a week after the launch event.
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NRC approves construction of new nuclear power reactors in Georgia

Posted: February 9th, 2012, 2:48pm EST by Steven Mufson

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The Nuclear Regulatory Commission on Thursday approved a construction and operating license for new nuclear power reactors for the first time since 1978, giving Southern Co. the green light to build two new units at its existing Vogtle site in Georgia.
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FBI’s Steve Jobs file: He will ‘distort reality ... to achieve his goals’

Posted: February 9th, 2012, 12:25pm EST by Hayley Tsukayama

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Steve Jobs, being considered in 1991 for an appointment under President George H.W. Bush, underwent a thorough background investigation by the FBI, according to newly released files from the agency.

The FBI amassed a lengthy and often unflattering file on Apple’s co-founder, with more than 30 interviews of friends, neighbors, family, former business associates and Jobs, that revealed his early drug use and concerns that the then-head of NeXT was neglecting his daughter born out of wedlock with his high school girlfriend.
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Ethics reform bill to ban insider trading by Congress members, executive branch passed by House

Posted: February 9th, 2012, 11:45am EST by Paul Kane

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The House on Thursday overwhelmingly approved its scaled-back version of an ethics reform package that would prohibit insider trading on Capitol Hill and in the executive branch.

On a 417 to 2 vote, the legislation won approval despite complaints from senators and House Democrats that GOP leaders stripped the measure of several key reforms that the Senate had easily approved.
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Landmark settlement announced on foreclosure, mortgage fraud

Posted: February 9th, 2012, 11:26am EST by Brady Dennis, Sari Horwitz

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State and federal officials on Thursday announced a settlement of more than $25 billion with five of the nation’s banks over their flawed and fraudulent foreclosure practices. It is the largest government-industry settlement in more than a decade.
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Postal Service loses $3.3 billion in first quarter

Posted: February 9th, 2012, 11:00am EST by Ed O'Keefe

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The holidays weren’t merry or bright for the U.S. Postal Service.

The nation’s mail delivery service lost $3.3 billion in its first quarter, which runs from Oct. 1 through Dec. 31 and encompasses the holiday shopping and shipping season.
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Greek officials reach austerity deal that could pave way for bailout

Posted: February 9th, 2012, 10:55am EST by Michael Birnbaum, Howard Schneider

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BERLIN — Stuck between looming bankruptcy and a flatlined economy, Greek politicians agreed Thursday to make a sweeping series of cuts that they hope will secure an international bailout, layering more pain onto what is already a deep recession.
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The unemployment number: Is Gingrich right that it’s flawed?

Posted: February 9th, 2012, 10:30am EST by Josh Hicks

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“When you include the number of people who have quit looking for work because they're convinced the Obama administration's economy is so bad they can't find a job, it jumps up to about 12 percent. When you include the number of people who have part-time jobs who wish they had a full-time job, it's at 16 percent or 17 percent. I mean, this is an administration which has actually shrunk the workforce fairly dramatically. In the last year, it's the lowest male participation rate in the labor force since the 1940s — so right after World War II.”
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Tax policy for manufacturing jobs — carrots or sticks?

Posted: February 9th, 2012, 7:00am EST by Peyton M. Craighill

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When it comes to U.S. manufacturing jobs, Americans favor using both carrots and sticks, but far more support the punishment than the enticement.

In a new Washington Post-ABC News poll, nearly three quarters of the public supports changing tax policy to make it more expensive for businesses to move manufacturing jobs overseas. But the public offers less resounding support — 51 to 44 percent — to giving tax breaks to bring jobs back to the country.
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Tax policy for manufacturing jobs — carrots or sticks?

Posted: February 9th, 2012, 7:00am EST by Peyton M. Craighill

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When it comes to U.S. manufacturing jobs, Americans favor using both carrots and sticks, but far more support the punishment than the enticement.

In a new Washington Post-ABC News poll, nearly three quarters of the public supports changing tax policy to make it more expensive for businesses to move manufacturing jobs overseas. But the public offers less resounding support — 51 to 44 percent — to giving tax breaks to bring jobs back to the country.
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Bank foreclosure fraud settlement said near

Posted: February 8th, 2012, 9:27pm EST by Brady Dennis, Sari Horwitz

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State and federal officials could announce as soon as Thursday a landmark settlement with five of the nation’s banks over their flawed and fraudulent foreclosure practices, people close to the situation said.
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Posted: February 8th, 2012, 9:27pm EST

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NRC expected to give Georgia nuclear reactors the green light

Posted: February 8th, 2012, 8:56pm EST by Steven Mufson

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The Nuclear Regulatory Commission is widely expected to approve on Thursday a construction and operating license for new nuclear power reactors for the first time since 1978, giving Southern Co. the green light to build two new units at its existing Vogtle site in Georgia.
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Privacy group wanting FTC to punish Google files lawsuit

Posted: February 8th, 2012, 8:47pm EST by Cecilia Kang

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Privacy advocates on Wednesday filed a federal lawsuit aimed at forcing government officials to punish Google over alleged privacy violations.

In the complaint, the Electronic Privacy and Information Center said Google’s plans to tie together data of users across services beginning March 1 violates a settlement agreement the company struck with the Federal Trade Commission last summer over a separate privacy controversy.
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Treasury, IRS propose easier tax rules for overseas banks

Posted: February 8th, 2012, 8:29pm EST by Steven Sloan, Richard Rubin

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The U.S. Treasury Department and the Internal Revenue Service are trying to make it easier for overseas banks to comply with a tax-withholding and information-collection requirement for some U.S. clients.
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Apple store protests planned for Thursday

Posted: February 8th, 2012, 8:16pm EST by Hayley Tsukayama

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Protesters descended on Apple stores around the world, including in Washington, on Thursday to protest labor conditions at the company’s manufacturing facilities in China.

The issue has become a thorny one for Apple after the factories that make its products experienced explosions in 2011 and worker suicides in 2010. A recent report in The New York Times contained graphic descriptions of cramped working conditions and the voices of workers who said they were suffering injuries from repetitive motion and exposure to chemicals.
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Reclining chairs, pillows and blankets coming with new Rockville movie theater

Posted: February 8th, 2012, 8:00pm EST by Jonathan O’Connell

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We broke the news in the fall that the luxury movie theater chain iPic would open a theater as part of a redeveloped Mid-Pike Plaza in White Flint, and now we are learning more about what it will look and feel like.
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Reclining chairs, pillows and blankets coming with new Rockville movie theater

Posted: February 8th, 2012, 8:00pm EST by Jonathan O’Connell

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We broke the news in the fall that the luxury movie theater chain iPic would open a theater as part of a redeveloped Mid-Pike Plaza in White Flint, and now we are learning more about what it will look and feel like.
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Mario Monti, Italy’s prime minister, aims to set a new growth agenda for Europe

Posted: February 8th, 2012, 7:05pm EST by Howard Schneider

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Italian Prime Minister Mario Monti has slashed pensions, begun a broad economic restructuring and agreed to a European treaty that tightens fiscal controls — all in the name of proving his country is serious about controlling debt.
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Scaled-back ethics measure moves toward approval in House

Posted: February 8th, 2012, 6:46pm EST by Paul Kane

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A scaled-back ethics bill headed toward likely passage in the House on Thursday despite complaints from senators that Republican leaders had jettisoned several key provisions that won overwhelming Senate support last week.
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Washington Post offers buyouts to newsroom staff in effort to reduce costs

Posted: February 8th, 2012, 1:47pm EST by Steven Mufson

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The Washington Post announced Wednesday that it would extend buyout offers to newsroom staff members in an effort to reduce the paper’s payroll. It is the fifth in a series of buyouts that have helped reduce the size of the staff by more than a third over the past decade as circulation and advertising revenue have fallen.
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Why failure shouldn’t be an option for your start-up

Posted: February 8th, 2012, 12:43pm EST by Paul Mandell

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It is no surprise that most new businesses fail, whether started by first-time entrepreneurs or seasoned founders with prior successful exits. Indeed, launching a company is risky business and the odds are stacked against every start-up. Given that reality, in developing a new business, one might believe that failure is okay.
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Rumor roundup: ‘iPad 3’ release date, specs

Posted: February 8th, 2012, 10:25am EST by Hayley Tsukayama

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As February ticks away, the rumors surrounding the next iPad are flowing fast and furious. Apple has the habit of pushing out its tablets in the spring, releasing the iPad 2 in March 2011 and the original model in April 2010. Here’s a general look at the rumors that are out there about the tablet — remember to take all with a healthy pinch of salt.
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Mortgage refinancing is on the rise

Posted: February 8th, 2012, 10:15am EST by Suzy Khimm

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Calculated Risk — which believes the housing market has hit bottom and should be headed back up -- points to more potential signs of healing in the market. According to the Mortgage Bankers Association, mortgage refinancing is on the rise, increasing 9.4 percent over the previous week and 5.7 percent over the past month.
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Wonkbook: Santorum proves money isn't everything

Posted: February 8th, 2012, 7:58am EST by Ezra Klein

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At this point, Rick Santorum has won four primaries or caucuses, and Mitt Romney has won three. Santorum continues to trail Romney in the delegate count, but in terms of actually winning contests, he's ahead of the putative frontrunner.
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Trump to turn Old Post Office into luxury hotel

Posted: February 7th, 2012, 9:29pm EST by Jonathan O’Connell

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Donald J. Trump is getting a Pennsylvania Avenue address in Washington, it just won’t be 1600.

The federal government announced Tuesday that the New York real estate magnate’s hotel company has been selected to turn Washington’s Old Post Office Pavilion into a luxury getaway.
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Proposed settlement with banks over foreclosure practices dealt a setback

Posted: February 7th, 2012, 9:22pm EST by Brady Dennis

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New York Attorney General Eric Schneiderman abruptly called off a news conference at which he could have provided a crucial endorsement of a proposed settlement with some of the nation’s biggest banks over shoddy foreclosure practices.
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It’s deja vu as Congress tackles payroll tax cut extension again

Posted: February 7th, 2012, 9:17pm EST by Rosalind S. Helderman

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It’s Groundhog Day in Congress, where lawmakers appear to have glimpsed their shadows and are entering a newly intense period of negotiations over whether to extend the payroll tax cut that is shaping up to be remarkably similar to a bruising December fight over the same issue.
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As Massachusetts governor, Romney had an unremarkable record on jobs

Posted: February 7th, 2012, 9:10pm EST by Jia Lynn Yang

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An overheated industry has gone bust. A tepid economy is not producing enough jobs. And a successful businessman promises he can use his private-sector experience to jump-start the economy.

This is presidential candidate Mitt Romney now, but it was also Romney nearly a decade ago when he ran for governor of Massachusetts, a state that was still reeling from the tech bubble’s burst.
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Latvia at risk of sending more into poverty, IMF report says

Posted: February 7th, 2012, 8:55pm EST by Aaron Eglitis

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Latvia’s economic crisis erased more than one-fifth of the country’s economic output, depressed incomes and put more people at risk of poverty, the International Monetary Fund said Tuesday, adding that the nation needs to work quickly to repair its social safety net.

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Industry attacks SEC proposals to regulate money market funds

Posted: February 7th, 2012, 8:42pm EST by Christopher Condon

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The mutual-fund industry rejected plans for new rules governing money market funds, escalating a three-year confrontation with regulators over how to make the investments safer.

Two proposals being worked on by the Security and Exchange Commission’s staff “are neither constructive nor likely to make financial markets more resilient,” Paul Schott Stevens, president and chief executive of the Investment Company Institute, said in a statement posted on the group’s Web site.
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Bernanke tells Senate: Focus on growth now, deficit cuts later

Posted: February 7th, 2012, 3:05pm EST by Suzy Khimm

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Federal Reserve Chairman Ben Bernanke kept to his message of caution on Tuesday, warning a Senate panel that sharp spending cuts and tax increases scheduled to take effect in early 2013 could slow the nation’s economic recovery if federal officials do not take further action.
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Google releases Chrome for Android

Posted: February 7th, 2012, 3:03pm EST by Hayley Tsukayama

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Google announced Tuesday that it’s releasing a version of Chrome for its Android smartphone operating system, after three years.

“Today, we’re introducing Chrome for Android Beta, which brings many of the things you’ve come to love about Chrome to your Android 4.0 Ice Cream Sandwich phone or tablet,” wrote Google Chrome lead Sundar Pichai in a company blog post. “Like the desktop version, Chrome for Android Beta is focused on speed and simplicity, but it also features seamless sign-in and sync so you can take your personalized web browsing experience with you wherever you go, across devices.”
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Frustrated GOP freshmen target gimmicks that make it hard to cut the budget

Posted: February 7th, 2012, 12:01pm EST by Lori Montgomery

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Before winning a spot in the House Republican freshman class, Rep. Tim Griffin was a high-ranking GOP political operative and a top aide to strategist Karl Rove. But despite his extensive Washington experience, Griffin said he was blindsided last year by budget “gimmicks” that blocked a clear victory for his top priority: cutting federal spending.
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Unemployment drop still leaves low skill workers behind

Posted: February 6th, 2012, 9:00pm EST by Michael A. Fletcher

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ROCKLEDGE, Fla. — The nation’s jobless rate has declined to its lowest level in three years, a fact that has left Jamie Bean, an unemployed air-conditioner repairman, feeling more left out than ever.

Bean, 36, lost his job in December. Now he is scrambling to keep up with child-support payments to his wife, who is also unemployed. “As it stands now, I can’t afford to get divorced,” he said, managing a wry smile.
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Trustee says MF Global sustained itself on customer funds

Posted: February 6th, 2012, 8:32pm EST by David S. Hilzenrath

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As MF Global careened toward bankruptcy in October, the brokerage firm used customer funds to bankroll its business, apparently assuming that the money would be put back by the end of each day, a trustee overseeing the firm’s liquidation reported Monday.
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Junk food widely available at U.S. elementary schools despite anti-obesity push

Posted: February 6th, 2012, 8:06pm EST by Dina ElBoghdady

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Nearly half of elementary school children can buy junk food at school, a trend that contributes to the childhood obesity epidemic and underscores the need for federal regulation of school snacks, according to a study published Monday in a pediatric journal.
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Foreclosure deal doesn’t go far enough, some groups say

Posted: February 6th, 2012, 8:01pm EST by Brady Dennis

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As state and federal officials near completion of a settlement with banks over shoddy foreclosure practices, a question that has loomed over the talks for months remains: Is it a good enough deal?

After nearly 500 days of drawn-out negotiations, public infighting and private cajoling, the emerging settlement would force banks to overhaul their mortgage-servicing practices. It could also require the banks to pay as much as $25 billion in penalties that would be put toward helping struggling homeowners and borrowers who lost their homes to foreclosure in recent years.
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Messages show conflict within NRC after Japan earthquake and tsunami

Posted: February 6th, 2012, 7:39pm EST by Steven Mufson

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In the confusion following the earthquake and tsunami that damaged Japan’s Fukushima nuclear complex last March, the Nuclear Regulatory Commission said it was standing by to help.

But a trove of e-mails posted on the NRC’s Web site shows an agency struggling to figure out how to respond and how to deal with the American public while cutting through what one official called “the fog of information” coming out of Japan.
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Europe turns up the pressure on Greece over debt plan

Posted: February 6th, 2012, 4:38pm EST by Howard Schneider

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European leaders pressed Greece on Monday to quickly resolve deadlocked talks over a new international bailout and are threatening to let the country default if Athens does not agree to new economic reforms.
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Amazon to launch first brick-and-mortar store, report says

Posted: February 6th, 2012, 1:41pm EST by Sarah Halzack

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Amazon may be venturing beyond the world of online retail to set up its first brick-and-mortar shop, according to a report from Bloomberg News.

The store will be in Seattle and its focus will be pricier merchandise such as tablet computers, the report says. And its footprint won’t be nearly as large as that of big box retailers such as Barnes & Noble.
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Secret money is funding more election ads

Posted: February 6th, 2012, 12:24pm EST by Dan Eggen

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More than a third of the advertising tied to the presidential race has been funded by nonprofit groups that will never have to reveal their donors, suggesting that a significant portion of the 2012 elections will be wrapped in a vast cloak of secrecy.
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Landmark foreclosure settlement imminent, officials say

Posted: February 6th, 2012, 11:41am EST by Brady Dennis, Olga Khazan

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After nearly 500 days of drawn-out negotiations, ever-changing deadlines, public in-fighting and private cajoling, state and federal officials this week appear poised to finalize a multibillion-dollar settlement with the nation’s largest banks over the shoddy foreclosure practices that became commonplace during the housing crisis.
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Verizon joins with Redbox to take on Netflix

Posted: February 6th, 2012, 11:34am EST by Cecilia Kang

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Verizon Communications and Redbox on Monday announced a video entertainment joint venture directly aimed at online streaming giant Netflix.

Verizon and Coinstar, the parent company of movie vending machine service Redbox, announced they will jointly provide users with online streaming and video rental services starting in the second half of the year.
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Wonkbook: Obama's fresh lead remains vulnerable to Europe's woes

Posted: February 6th, 2012, 6:32am EST by Ezra Klein

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The latest Washington Post/ABC News poll shows President Obama's approval rating has risen to 50 percent and he's opened up a six-point lead against Mitt Romney. In part, that's because the primary is hurting Romney. A majority of Americans who are closely following the campaign say they disapprove of what they're hearing among the Republicans, and by 2 to 1, Americans say that the more they learn about Romney, the less they like him. But in part, that's because a rebounding economy is helping Obama. Which is why all eyes in the West Wing will be on Greece this week, where a deal that could keep Europe stable and the recovery going is in danger of falling apart.
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Start-up guru aims to build investment fund

Posted: February 5th, 2012, 9:25pm EST by J.D. Harrison

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After more than a decade working for a number of start-ups, Charlie Kiser decided to finally pursue a venture of his own a couple years ago. He had an idea for a company that would fill a gap in automobile maintenance, and before long, he started pitching his idea to venture capitalists and angel investors.
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For some black women, economy and willingness to aid family strains finances

Posted: February 5th, 2012, 9:19pm EST by Ylan Q. Mui, Chris L. Jenkins

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The Great Recession carried special pain for black women like Jane Ladson.

She had always been the one her family turned to when they needed help, and she didn’t hesitate to give it. She helped pay for weddings and rent. She made room for her nephew when her brother died of AIDS. And even now in her 50s, she took in a baby that wasn’t her own.
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U.S. deals favoring blind draw scrutiny as rivals struggle

Posted: February 5th, 2012, 8:54pm EST by David Lerman, Nick Taborek

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Angela Meredith, who is legally blind, says she owes her job to a U.S. government program that reserves contracts for disabled workers.

“I wouldn’t be able to find work anywhere else,” said Meredith, 58, who earns $7.75 an hour making army uniforms at a factory near Baltimore, under a much-praised initiative started in 1938 by President Franklin D. Roosevelt.
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Government contractors preserve profit through cost-cutting

Posted: February 5th, 2012, 8:22pm EST by Marjorie Censer

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Recent earnings reports show that many government contractors have been able to maintain their profits through cost-cutting despite declining or flattening sales, but analysts are questioning how long companies can keep that up.
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Expats lured by Brazil’s booming economy

Posted: February 5th, 2012, 7:38pm EST by Juan Forero

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SAO PAULO, Brazil — It just made sense to be in South America’s economic heart, Jonathan Rosenthal reasoned, no matter that he had been working on Wall Street with some of the investment world’s most heady firms.
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For business schools, entrepreneurship is a bridge to other parts of campus

Posted: February 5th, 2012, 3:08pm EST by Steven Overly

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Dean David Thomas, who took the helm of Georgetown University’s school of business in August, has been making the rounds lately pitching prospective donors on a plan to raise $50,000 for what he describes as a university “seed fund.”
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Gene B. Sperling: Obama’s jobs creator

Posted: February 4th, 2012, 9:44pm EST by Zachary A. Goldfarb

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Just before 1:30 p.m. Aug. 3, a frustrated President Obama gathered Gene B. Sperling and the economic team in the White House and told them to design a jobs package he could offer the American public.

Obama had spent much of the year locked in negotiations with Republicans over the national debt, with little to show for the effort but a sagging approval rating. He had wanted to argue publicly for ideas to create jobs, but hesitated in the midst of negotiations. Liberal critics reprised a familiar critique of the Obama White House: that it too often bows to political constraints and forfeits what’s right for what’s possible or easy.
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Susan G. Komen foundation takes steps to rebuild trust after PR fiasco

Posted: February 4th, 2012, 8:45pm EST by Lena H. Sun, Sarah Kliff

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The nation’s leading breast cancer advocacy group has gone into full damage-control mode.

Executives of the embattled Susan G. Komen for the Cure foundation held conference calls with affiliates Saturday to discuss a new strategy for working with supporters, a first step in rebuilding trust after last week’s public relations fiasco surrounding Komen’s off-then-on-again decision to fund Planned Parenthood.
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Gingrich campaign paid off some debts, still owes $600,000

Posted: February 4th, 2012, 7:58pm EST by Carol D. Leonnig

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Newt Gingrich’s campaign remains roughly $600,000 in debt, two months after it reported deep debts and a long list of creditors, newly released campaign spending records show.

Fundraising by the former House speaker’s campaign has stepped up markedly since then and Gingrich just last month cut by half the $1.2 million owed in October 2010. Still, several outstanding creditors remain.
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David Choe, the art world’s soon-to-be Facebook millionaire

Posted: February 4th, 2012, 6:49pm EST by Maura Judkis

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One of the most interesting stories to come out of the Facebook IPO windfall is that of David Choe, the scrappy street artist who was given the choice of cash or stock for the murals he created in the company’s first headquarters.
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Tax tips for the 99%

Posted: February 4th, 2012, 6:08pm EST by Kevin McCormally

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While the punditocracy dives into the details and debates the vices and virtues of Mitt Romney’s and Newt Gingrich’s 2010 tax returns, we found a gold mine in tax savings for ordinary folks who will never need a Swiss bank account.
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Mitt Romney strategy could help maximize charitable tax deductions

Posted: February 4th, 2012, 6:04pm EST by Margaret Collins

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Taxpayers looking to maximize their charitable deductions and save on taxes can replicate a strategy Republican presidential candidate Mitt Romney uses.

By donating stock to a foundation, Romney and his wife, Ann, eliminated taxes on gains, received a deduction for the securities’ full market value and can donate the money to charities over several years, said Steven Bankler, a certified public accountant. Individuals can achieve similar results with a donor-advised fund for a “whole lot cheaper,” he said.
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Case in Point: How process improvement principles can save time in your day

Posted: February 4th, 2012, 5:53pm EST by Elliott Weiss, Rebecca Goldberg

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The big idea: How can executives (or anyone) use what we know about process improvement to make their lives better — as well as improve the lives of everyone with whom they interact? Todd Pearson’s productivity transformation in his home, personal and work life is one in a series of Living Lean vignettes describing the holistic, real-world application of continuous process improvement principles.
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American Airlines’ plan for pension bailout draws criticism

Posted: February 3rd, 2012, 8:31pm EST by Steven Mufson

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American Airlines has saved $2.1 billion since 2006, thanks to two congressional measures that allowed it to reduce contributions to its pension plans. The company said it would make up any shortfall later.
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SEC fills spot on accounting oversight board

Posted: February 3rd, 2012, 8:20pm EST by David S. Hilzenrath

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The Securities and Exchange Commission on Friday named an official at the Government Accountability Office, Jeanette M. Franzel, to serve as a watchdog over corporate audits, filling a potentially pivotal seat on an oversight board that was created in the aftermath of the Enron and WorldCom accounting scandals.
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Susan G. Komen foundation revises policy that barred Planned Parenthood funding

Posted: February 3rd, 2012, 8:20pm EST by Sarah Kliff, N.C. Aizenman

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Caught in a maelstrom of public reaction to its decision to cease funding Planned Parenthood, the Susan G. Komen for the Cure foundation announced Friday that it would reverse course.

Komen will no longer bar organizations that are under government investigation from applying for grants. As a result, Planned Parenthood — which is the focus of a House probe over whether it has used federal funds to pay for abortions — will once more be eligible for Komen grants.
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New York sues Reston firm over foreclosure documents

Posted: February 3rd, 2012, 8:15pm EST by Brady Dennis

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New York Attorney General Eric Schneiderman sued a handful of the nation’s largest banks Friday, claiming they deceived homeowners and court officials by filing flawed and fraudulent foreclosure documents through a popular electronic mortgage registry.
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Apple, with iPad, is top PC maker

Posted: February 3rd, 2012, 3:16pm EST by Hayley Tsukayama

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The largest PC maker in the world is — Apple?

Hard to believe, maybe, but according to the latest analysis from Canalys, the Cupertino, Calif.-based company shipped 120 million PCs last year, if you include the iPad.
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2012 Mini Cooper John Cooper Works Coupe: A Mini built for the track

Posted: February 3rd, 2012, 1:07pm EST by Warren Brown

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It was fun, but wanting — the motorized equivalent of a last fling. At the end of the journey, I knew we were done.

Infatuation and fantasy wear thin with real-road experience, particularly when you are driving several hundred miles in a speedster as tiny as the 2012 Mini Cooper John Cooper Works Coupe.
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What’s going on with...the Shrimp Boat restaurant?

Posted: February 3rd, 2012, 10:30am EST by Jonathan O'Connell

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It’s called the Shrimp Boat restaurant and if you’ve ever driven out of Capitol Hill on East Capitol Street you’ve seen it sailing toward you — paint peeling, windows mostly shuttered and a seaweed green awning that looks like it could collapse at any moment.
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Entrepreneurs and small business owners work their ‘side hustles’

Posted: February 3rd, 2012, 10:09am EST by Chris L. Jenkins

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One is a local crafter who specializes in hand made baby clothes. Another is a state department employee by day and talent agent on the side. A third is the director of a local non-profit that teaches health and wellness to Ward 8 residents.
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David Choe’s Facebook friends react to his IPO windfall

Posted: February 3rd, 2012, 9:32am EST by Maura Judkis

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David Choe became the art world’s newest millionaire this week, thanks to his wise decision to take Facebook stock in exchange for the murals he painted in the company’s headquarters in 2005, despite believing at the time that Facebook wa s “ridiculous.”
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President Obama’s claim that some wanted to let the auto industry die

Posted: February 3rd, 2012, 6:02am EST by Glenn Kessler

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“It’s good to remember that the fact that there were some folks who were willing to let this industry die. Because of folks coming together, we are now back in a place where we can compete with any car company in the world.”
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Facebook’s new friend request: political insiders

Posted: February 2nd, 2012, 8:38pm EST by Cecilia Kang

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Facebook is friending the feds.

The company has put political veterans in key executive roles and board positions. It’s also quickly built up a powerhouse Washington lobbying operation and established a political action committee to make it easy for employees to donate to candidates.
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Obama administration to move forward with closing Fannie Mae, Freddie Mac

Posted: February 2nd, 2012, 8:08pm EST by Brady Dennis

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The Obama administration plans to push forward this spring with efforts to wind down government-backed housing giants Fannie Mae and Freddie Mac and attract more private funding to mortgage markets, Treasury Secretary Timothy F. Geithner said Thursday.
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Modest gains forecast for Jan. jobs report

Posted: February 2nd, 2012, 5:11pm EST by Peter Whoriskey

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With the government’s monthly unemployment report expected Friday, economists predicted it will show that the United States added about 150,000 jobs last month, sustaining a modest momentum in the economy.
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A real estate investing guide for 2012

Posted: February 2nd, 2012, 2:55pm EST by Harvey S. Jacobs

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If you are like me, you may be reflecting on how poorly your investment portfolio performed in 2011. All stock indices, except the Dow Jones, were down. Your savings account, if any, may have earned an anemic 0.25 percent. Assuming you are convinced that 2012 is the year to take the real estate investment plunge, you may want to consider the following.
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Minor Senate bill transformed into broad reform package

Posted: February 2nd, 2012, 1:17pm EST by Paul Kane

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In a sign of just how unpopular Congress has become, rank-and-file senators hijacked a debate over a narrowly tailored ethics bill and won broad approval Thursday of a more far-reaching reform package that would impose new conflict-of-interest rules and mandate more transparency on K Street.
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Fed chief warns Congress against hampering growth while cutting debt

Posted: February 2nd, 2012, 12:55pm EST by Zachary A. Goldfarb

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Federal Reserve Chairman Ben S. Bernanke on Thursday cautioned lawmakers against taking any steps that would hurt economic growth as they work to cut the nation’s debt, and he defended the central bank’s recent actions to support the economy.
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Feds allow wind development to move forward off Virginia coast

Posted: February 2nd, 2012, 12:23pm EST by Anita Kumar

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The federal government announced Thursday it’s moving forward with developing wind energy off Virginia’s coast.

The Bureau of Ocean Energy Management is looking for industry interest in wind development off the coasts of New Jersey, Delaware, Maryland and Virginia. It’s the first step in the leasing process.
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Mortgage rates hit new low; 3.87 percent for 30-year fixed

Posted: February 2nd, 2012, 10:10am EST by Sara Kehaulani Goo

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Mortgage rates hit new historic lows this week, as the average 30-year fixed rate fell to 3.87 percent, according to Freddie Mac Mortgage Market Survey released Thursday.

The 30-year dropped this week after nudging up a bit last week to 3.98 percent, but overall the rate has remained below 4 percent for a couple months. Other rates hit new lows, including the 15-year, which fell to an average 3.14 percent, down 0.8 percentage points.
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Facebook: 1,000 new millionaires?

Posted: February 2nd, 2012, 8:56am EST by Hayley Tsukayama

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The catchy rumor ahead of Facebook’s initial public offering filing was that the company’s record IPO will create 1,000 millionaires overnight.

With a current plan to raise $5 billion in its stock sale — the largest Internet IPO in history — employees who were granted stock options in Facebook when they were hired certainly have a lot to gain. The Daily Mail reported that the company will have “well over a thousand” employees who will be millionaires after the company goes public, based on comments from an anonymous former in-house Facebook recruiter.
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Washington’s hottest neighborhoods

Posted: February 2nd, 2012, 8:00am EST by Sara Kehaulani Goo

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A new report out Thursday from Trulia, the real estate listings web site, has identified the Washington area Zip codes that are getting the most Web traffic among locals.
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Audacious geologist goes for Amazon oil

Posted: February 2nd, 2012, 6:30am EST by Juan Forero

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RIO DE JANEIRO — Marcio Mello often talks of eureka moments.

The veteran geoscientist’s biggest came when he decided that his petroleum research firm should become an oil producer, taking advantage of the rich sedimentary basins that have lured oil companies to Brazil.
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Former Credit Suisse employees accused of fraud in valuing subprime investments

Posted: February 1st, 2012, 9:51pm EST by David S. Hilzenrath

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As the mortgage market melted down in 2007 and 2008, investment bankers and traders at Credit Suisse used fraudulent bookkeeping to create an illusion that their subprime investments were still profitable, the government said Wednesday.
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Startup DC to entrepreneurs: Don’t just network, do something

Posted: February 1st, 2012, 5:18pm EST by Olga Khazan

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Speaking at Startup D.C. Tuesday night, United States Chief Technology Officer Aneesh Chopra marveled at how fast-thinking Internet entrepreneurs can improve government services.

During a Jan. 17 meeting with the San Francisco cloud communications firm Twilio, Chopra mentioned that he and Jill Biden, the vice president’s wife, were hosting a showcase of apps for veterans the following day. Twilio CEO Jeff Lawson asked Chopra if the company could hold a developer contest and submit the winning entry to the showcase. Chopra was initially apprehensive because of the quick turnaround, but he agreed to let them try.
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What it takes to be a 1 percenter in the Washington area

Posted: February 1st, 2012, 3:03pm EST by Carol Morello

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If that end-of-the-year bonus didn’t send your household income well north of half a million dollars, you can’t count yourself among the elite 1 percent in the Washington region.

It took household earnings of almost $520,000 to make it into the region’s top tier in 2010, according to a new analysis of Census Bureau data. That represents a slight increase from $517,000 in 2007, despite the many intervening months of recession and economic stagnation.
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Area jobless rate dipped in December as hiring increased

Posted: February 1st, 2012, 2:25pm EST by V. Dion Haynes

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The unemployment rate in the Washington region fell from 5.9 percent to 5.8 percent in December, according to a report released Wednesday, as some contractors concerned about federal spending cuts picked up their hiring to bring in more business.
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Cheap natural gas jumbles energy markets, stirs fears it could inhibit renewables

Posted: February 1st, 2012, 1:39pm EST by Steven Mufson

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For the past three years, promoters of shale gas and environmentalists opposed to coal-fired power plants have hailed the sudden abundance of U.S. natural gas as a bridge to a renewable-energy future.

But natural gas has become so cheap that many energy experts and environmentalists now wonder whether it will turn into a long, bumpy detour.
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LivingSocial lost $558 million in 2011

Posted: February 1st, 2012, 1:19pm EST by Thomas Heath

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LivingSocial, the fast-growing daily deals site headquartered in Washington, lost $558 million on revenue of $245 million in 2011, according to a regulatory filing by Amazon.com, which owns almost a third of the company.
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Obama announces new housing refinance plan

Posted: February 1st, 2012, 12:46pm EST by David Nakamura, Brady Dennis

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President Obama on Wednesday made his latest pitch to lift the nation’s beleaguered housing market, unveiling a series of proposals to help struggling borrowers reduce their monthly payments and to stem the continuing slide in real estate prices.
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Verizon’s wireless, marketing deal with cable firms to be considered at Senate hearing

Posted: February 1st, 2012, 11:38am EST by Cecilia Kang

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A key Senate Judiciary Committee member said Wednesday he is planning a hearing on Verizon’s spectrum purchase deal with cable companies that includes a controversial marketing arrangement.

Senator Herb Kohl (D-Wisc.), chairman of the Antitrust, Competition Policy and Consumer Rights subcommittee, said the hearing will include a review of a cross-marketing agreement between Verizon Wireless and cable firms including Comcast, Time Warner Cable, and Bright House.
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What to expect from Facebook’s IPO filing

Posted: February 1st, 2012, 10:36am EST by Hayley Tsukayama

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Eight years after it was launched from a Harvard dorm room, Facebook is expected to take its first major step to being a publicly traded company Wednesday. The filing is the first step toward what’s shaping up to be one of the highest-buzzed market debuts in history.
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Proposed jobs bill would target foreign outsourcing by U.S. companies

Posted: February 1st, 2012, 7:35am EST by Jia Lynn Yang

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Rep. Gary Peters (D-Mich.) will introduce a bill Wednesday requiring large U.S. companies to disclose how many of their jobs are based on U.S. soil and how many are based abroad, an attempt to shed light on the number of American jobs being outsourced.

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