Business

Economy

SEC Chairman Schapiro's Exit Interview

7:51am December 14, 2012

In an interview with David Greene, outgoing Securities and Exchange Commission Chairman Mary Schapiro reflects on her tenure at the agency, and the disappointment that she wasn't able to overhaul money market funds. She leaves the job on Friday.

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Guilty Plea Expected In Rate Scandal

7:02am December 14, 2012

The bank UBS has been in the middle of a huge investigation into interest rate manipulation. There are several reports that a subsidiary of UBS is making a settlement deal with U.S., British and Swiss officials.

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'Fiscal Cliff' Message Repeats Itself

6:35am December 14, 2012

As the negotiations drag on, the lack of progress means the key players have necessarily taken to repeating themselves. Sometimes, word-for-word, as they describe how they have worked for a solution while their opponents have stonewalled.

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What Does Right To Work Mean?

5:33am December 14, 2012

The term "right to work" has been in the news a lot this week. On Tuesday, Michigan became the 24th state to enact right-to-work legislation. It means unions can no longer require workers to pay full dues, even if they're working in a union shop.

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HSBC has agreed to pay $1.92 billion to settle a multiyear U.S. criminal probe into money-laundering lapses at the British lender, the largest penalty ever paid by a bank.

National

HSBC Critic: Too Big To Indict May Mean Too Big To Exist

8:01pm December 13, 2012

by Ailsa Chang

The accusations against HSBC were harsh — that the bank laundered money for Mexican drug cartels and conducted transactions on behalf of Iran and other states tied to terrorism. So, why did federal authorities fine HSBC rather than pursue criminal charges?

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National

Will A $1.9 Billion Settlement Change Banks' Behavior?

11:55am December 13, 2012

by Robert Smith

For punishments to work, they need to be both swift and meaningful. The HSBC settlement may be neither.

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Most Of Congress In The Dark On 'Fiscal Cliff' Talks

11:44am December 13, 2012

by Tamara Keith

Of the 535 members of Congress, not many are in the loop about negotiations to avoid automatic spending cuts and tax increases in the new year. Lawmakers are waiting to see what President Obama and House Speaker John Boehner come up with — and some are nervous about having to quickly vote on a bill despite misgivings.

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Eden Full took time off from her studies at Princeton University to work on her startup full time, after being selected for the inaugural class of the 20 Under 20 Thiel Fellowship.

Who Needs College? Young Entrepreneuer Bets On Bright Idea For Solar Energy

10:44am December 13, 2012

by Steve Henn

Eden Full dropped out of Princeton to found a startup company that brings the solar panel technology she invented to developing countries as part of a fellowship. The unusual program, funded by tech entrepreneur Peter Thiel, gives young people $100,000 to skip college and focus on their work and research instead.

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E.U. Banking Supervision Would Ease Crisis

9:03am December 13, 2012

European Leaders have been working to figure out a way to supervise banks spread across the different countries that use the Euro currency. The German finance minister said a new system would be up and running by the spring of 2014.

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Rules Could Make TV Commercials Quieter

9:03am December 13, 2012

CALM is an acronym for a new law that takes effect Thursday. It stands for the Commercial Advertisement Loudness Mitigation Act, and it means you won't have to jump for your TV remote the second commercials air. The law says the volume of commercials needs to be the same as the programs they're coming out of.

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