Business

Crude oil that leaked from the Deepwater Horizon oil rig sits on the surface of the Gulf of Mexico in April 2010.

BP Wants To Halt Deepwater Horizon Claims Process

5:21pm September 10, 2013

by Eve Troeh

BP is fighting the settlement it agreed to last summer that let the oil company avoid thousands of potential lawsuits over the 2010 Gulf of Mexico oil spill. BP now says the claim process is corrupt and wants to stop all the money flowing from its claims fund.

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Samsung's new Galaxy Gear smartwatch marks a new generation of wearable devices.

Smartwatch Is Next Step In 'Quantified Self' Life-Logging

5:20pm September 10, 2013

by Steve Henn

Smartwatches are capturing imaginations because of what they can measure about their wearers. A watch touches your skin, so it can take your pulse, measure your temperature and record the quality of your sleep.

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The Steinway Musical Instruments factory in Queens, N.Y.

Why Steinway Is Likely To Be Sold To A Hedge Fund Manager

11:16am September 10, 2013

by Ilya Marritz

Steinway Musical Instruments is on the auction block and a mystery bidder, rumored to be hedge fund manager John Paulson, appears to have the winning bid at $458 million. Ilya Marritz explains why the fairly healthy company is seeking a buyout in the first place.

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Tea Party Won't Let Congress Forget Obamacare Issues

7:08am September 10, 2013

by Don Gonyea

Tea Party Patriots are making a push for Congress to defund the new health care law as part of debates over the budget and funding the federal government. On Capitol Hill Tuesday, Tea Party activists have scheduled an afternoon gathering to rally support for cutting off funding for the health law often referred to as Obamacare.

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After A Decade, Congress Moves To Fix Doctors' Medicare Pay

7:59am September 09, 2013

by Julie Rovner

Federal lawmakers have been unable to solve a widely acknowledged problem with the formula used to set the pay for doctors who treat Medicare patients. Now, after a series of temporary patches, a bipartisan solution may be at hand.

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EcoATM kiosks dispense cash in exchange for used cellphones, MP3 players and tablets.

National

Baltimore Officials Want To Unplug Phones-For-Cash Kiosks

5:10pm September 07, 2013

by Kenneth Burns

The machines allow people to turn their old cellphones and other electronic devices into instant cash. But these ecoATMs could be banned in Baltimore, where at least one lawmaker believes the machines are a magnet for electronics thieves.

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Rahul Kacker owns a factory that makes car components. His business has been hit by the economic slowdown.

India's New Central Banker Steps Into A Perfect Storm

8:54pm September 06, 2013

by Julie McCarthy

The new chairman of the Reserve Bank of India infused a sense of much-needed optimism this week, but analysts say the exuberance is unlikely to last. India's economic growth has crashed, its currency has plunged and prices are up. After a decade of high growth rates, India is now the sick man of Asia.

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Olympic Committee To Announce 2020 Summer Games Host

2:22pm September 06, 2013

Saturday in Argentina, the International Olympic Committee will announce the host of the 2020 Summer Games. The committee is choosing from among Istanbul, Madrid and Tokyo. The contenders all have strong selling points, but each also has serious issues clouding its bid.

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Economy

Rates Come Down On Jumbo Mortgage Loans

12:40pm September 06, 2013

by Chris Arnold

The interest rate on jumbo mortgages — those that exceed a government-set cap of $417,000 — has fallen below the rate for traditional loans. Mortgage industry observers say it's the first time this has happened.

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The owner of the dealership wouldn't sell trade-ins or the previous year's model once the new ones came out, keeping most of the old inventory outside. He closed his dealership in 1996 and is just now selling off his collection.

Under Dust And Rust, 'New' Classic Cars Go Up For Auction

8:11pm September 05, 2013

by Ryan Robertson

A long-closed car dealership in Nebraska will soon auction more than 500 classic cars, many with fewer than 10 miles on the odometer. Though time has taken a toll on many on the block, in some ways the cars are brand new. Some still have plastic on the seats and the price sticker on the window.

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