Articles By Moran Zhang
The taxpayer-owned Fannie Mae paid more than legally required to Bank of America Corp. (NYSE: BAC) and 12 other lenders when it spent $1.5 billion in termination fees for servicing rights on 1.1 million loans between 2008 and 2011. The mortgage giant argues that while it paid a premium over the minimum required price, it paid for the transfers at an “appropriate rate.
Tax cuts for the rich don't seem to be associated with U.S. economic growth and instead are linked to a different outcome: greater income inequality in the U.S. These findings will likely fuel the already bitter political fight over extending the Bush tax cuts for upper-income groups.
While market sentiment for China's growth outlook has been overwhelmingly negative, Nomura's Chief China Economist Zhiwei Zhang remains very bullish.
The continued weakness of the global economy will probably keep U.S.manufacturing purchasing managers indexes at low levels in September. Meanwhile, economists expect August's housing data to indicate the recovery in that sector remains intact.
Analysts expect companies in the S&P 500 to post negative revenue growth rate in the third quarter. Meanwhile, profits are expected to decline by 2 percent for the period.
The four-week average of initial U.S. jobless claims rose last week to its highest level in nearly two months, yet another indication of the nation's anemic job creation ability.
China's economic slowdown is expected to reach its nadir in the third quarter, leaving growth for 2012 likely to fall below 8 percent, a level unseen since 1999. While top Chinese leaders remain confident that the world's second-largest economy still has "ample strength" in eithe...
Market bulls charged on Wednesday -- running U.S. stock futures, European stocks, the euro, oil and gold higher -- in the wake of a German court ruling that backs the country's participation in the euro zone's new bailout fund created to prevent the weakest euro economies from going bust.
If, as one analyst expects, Apple's sales of its new iPhone 5 -- estimated to cost about $600 each -- reach 8 million, it could boost the U.S. GDP by half a percentage point.
Each week, the IBTimes Money team picks the six biggest, most dramatic, or most compelling winners and losers in business. For the week of Sept. 3-7, the former include global automakers such as the Honda Motor Co. (NYSE: HMC), and the latter include the Nokia Corp.