No, Obamacare Isn't Turning America Into A Part-Time Economy
Obamacare has not yet turned America into a nation of part-time workers, as many of its strongest critics have long said it would. In fact, the opposite seems to be happening, according to new government numbers published Friday: The number of part-time jobs is actually shrinking, and full-time jobs are being created instead. Specifically, the number of part-time workers in the U.S. fell in February to about 27...
Lil Jon: Who I Dream of Working With & What Donald Trump is Like
Lil Jon is a rapper, producer, DJ and entrepreneur. He's known for his rambunctious catch phrases and ceaseless energy, as well as being a star of two seasons on Celebrity Apprentice. He's also the mentor in the Music category of Shopify's Build A Business Competition. His job is to provide wisdom and insight to shops selling music and trying to make their way in the industry. Here's what he had to say in response to some of the questions you asked: I never knew what I would be or do when I was younger...
S&P 500 ends at another record after strong jobs data
By Angela Moon NEW YORK (Reuters) - U.S. stocks finished mostly higher on Friday, with the S&P 500 closing at a record after more jobs than expected were created in February and January's figure was revised higher. The S&P 500 ended at a record closing high for the second day in a row. Friday's milestone also was the S&P 500's fifth record closing high in the past seven sessions...
Stocks may extend rally after strong jobs data
That bet has helped equities shrug off bearish data and geopolitical uncertainties in Ukraine, taking the S&P 500 to a series of record highs. "We're hoping the payroll report means we're on a stronger footing going ahead and that we can get more robust growth going forward," said Michael Mullaney, chief investment officer of Fiduciary Trust Co in Boston.
Boeing reports wing cracks on 787 Dreamliners in production
By Alwyn Scott and Tim Hepher NEW YORK (Reuters) - Boeing Co said on Friday that "hairline cracks" had been discovered in the wings of about 40 787 Dreamliners that are in production, marking another setback for the company's newest jet. The cracks have not been found on planes that are in use by airlines and therefore pose no safety risk, Boeing said, adding the problem also will not alter Boeing's plans to deliver 110 787s this year...
Greece, lenders will miss March 10 deadline for rescue loan deal: sources
Greece and its international lenders will miss a self-imposed March 10 deadline to clinch a deal that will release the next tranche of the country's rescue loans, three senior Greek government sources said late on Friday. Greece and representatives of the European Union (EU) and the International Monetary Fund (IMF) had hoped to conclude the latest review of the country's reform progress under the terms of its international bailout by Monday, when euro zone finance ministers meet in Brussels...
Ex-Jefferies trader convicted of fraud in U.S. bond probe
By Richard Weizel NEW HAVEN, Connecticut (Reuters) - A federal jury on Friday found former Jefferies Group Inc trader Jesse Litvak guilty of defrauding clients on mortgage bond trades made after the financial crisis. Litvak, 39, was convicted on all 15 counts he faced, including 10 of securities fraud. He faced up to 20 years in prison on each securities fraud count. Prosecutors accused Litvak of cheating clients out of more than $2 million between 2009 and 2011 by inflating bond prices, lying about how much Jefferies paid for them and inventing sellers...
Exclusive: Astenbeck fund jumps in February on oil rally that could help Oxy
By Barani Krishnan NEW YORK (Reuters) - Famed oil bull Andy Hall's hedge fund rose nearly 8 percent in February in its biggest monthly gain in 2-1/2 years, boosted by a rally in crude oil that could help Occidental Petroleum's chances of selling its stake in the fund. Occidental , which acquired a 20 percent stake in Hall's Connecticut-based Astenbeck fund and trading house Phibro in 2009, said last month it wanted to reduce proprietary trading activities...
U.S. job growth offers upbeat sign for weather-beaten economy
By Lucia Mutikani WASHINGTON (Reuters) - U.S. job growth accelerated sharply in February despite the icy weather that gripped much of the nation, easing fears of an abrupt economic slowdown and keeping the Federal Reserve on track to continue reducing its monetary stimulus. Employers added 175,000 jobs to their payrolls last month after creating 129,000 new positions in January, the Labor Department said on Friday...
JPMorgan whistleblower gets $63.9 million in mortgage fraud deal
A whistleblower will be paid $63.9 million for providing tips that led to JPMorgan Chase & Co's agreement to pay $614 million and tighten oversight to resolve charges that it defrauded the government into insuring flawed home loans. The payment to the whistleblower, Keith Edwards, was disclosed on Friday in a filing with the U.S. district court in Manhattan that formally ended the case. In the February 4 settlement, JPMorgan admitted that for more than a decade it submitted thousands of mortgages for insurance by the Federal Housing Administration or the Department of Veterans Affairs that did not qualify for government guarantees...
Chevron's U.S. win in Ecuador case looms over cases elsewhere
By Mica Rosenberg NEW YORK (Reuters) - Ecuadorean villagers who are trying to get billions of dollars from Chevron Corp for pollution in the Amazon jungle are ready to refocus their fight on pending suits in other countries after a setback in the United States. A scathing judgment issued by a U.S. judge this week against their lawyer will cast a long shadow over cases filed in Canada, Brazil and Argentina, where the plaintiffs are seeking Chevron assets as payment because the oil giant no longer has a presence in Ecuador...
Deutsche Bank denies it knew of forex woes since 2006
Deutsche Bank denied a German newspaper report on Friday that claimed a senior bank official knew of alleged currency market manipulation efforts as far back as 2006. The Frankfurter Allgemeine Zeitung reported on its website that a senior Deutsche currency trader attended meetings with officials from Bank of England eight years ago where currency trading irregularities were discussed. Deutsche Bank, however, said that its representative did not attend the BOE meeting in July, 2006, of the Chief Dealers' Subgroup of the Foreign Exchange Joint Standing Committee where irregularities were discussed...
Blast of winter weather can't faze US employers
WASHINGTON (AP) — Brutal winter weather snarled traffic, canceled flights and cut power to homes and factories in February. Yet it didn't faze U.S. employers, who added 175,000 jobs, far more than the two previous months.
Controversy marks Newsweek's comeback
NEW YORK (AP) — A mystery man. A splashy reveal. A media frenzy. Newsweek staked its return from the dead on a story it knew would get attention. A cover story claiming it had uncovered "the face behind bitcoin," the world's most popular digital currency.
Man said to create bitcoin denies it
LOS ANGELES (AP) — Dorian Prentice Satoshi Nakamoto said Thursday that he is not the creator of bitcoin, adding further mystery to the story of how the world's most popular digital currency came to be.