NEW YORK (Reuters) – The signs of life in the U.S. housing market may be encouraging, but not all money managers are convinced that rising home sales and values can provide serious momentum to the U.S. economy in 2013.
The still unresolved issue of some 10 million underwater mortgages – where the amount owed is larger than the current value of the house – remains a key impediment, said speakers at the Reuters Global Investment Outlook 2013 Summit in New York.
NEW YORK (Reuters) – As President Barack Obama casts around for a new U.S. Treasury Secretary, one top bond manager has a suggestion: Forget the London Whale debacle and consider JPMorgan Chase’s (JPM.N: Quote, Profile, Research, Stock Buzz) CEO Jamie Dimon.
Timothy Geithner, who has held the top Treasury post and one of the most powerful positions in world finance since 2009, is expected to leave early in the new year. He will stay through Inauguration Day, January 21, the White House said.
BOSTON (Reuters) – A moderate earthquake struck the northeastern U.S. state of Maine on Tuesday shortly after 7 p.m. (2300 GMT), according to the U.S. Geological Survey.
First reported as a 4.5 magnitude quake centered near Lake Arrowhead, the USGS revised the quake’s magnitude to 4.6 and finally down to 4.0.
BOSTON, Oct 16 (Reuters) – U.S. financial regulators have
not overcompensated for past behavior in their approach toward
regulation since the financial meltdown of recent years, and do
not approach their work with a “gotcha mentality,” a top Federal
Reserve official said on Tuesday.
“Overcorrection is not preached as best practice in
regulation,” said Federal Reserve Governor Sarah Raskin. “I
haven’t seen overzealous examinations.”
DURHAM, New Hampshire (Reuters) – Former President Bill Clinton took to the campaign trail in New Hampshire on Wednesday, lending President Barack Obama some firepower in a battleground state that has recently warmed to the idea of a second term for the incumbent.
Hours before Obama takes on Republican challenger Mitt Romney in Denver in the pair’s first nationally televised debate, the 42nd U.S. President fired up a rally at the University of New Hampshire-Durham.
BOSTON (Reuters) – Democrat Elizabeth Warren’s claim of Native American heritage was once again in the spotlight as she sparred with Republican rival Scott Brown on Monday in the second debate of the pair’s contest for the U.S. Senate seat from traditionally Democratic Massachusetts.
Recent polls show Warren, 63, a Harvard Law School professor and former official in President Barack Obama’s administration, maintains a slim lead over Brown, who swept into the Senate in a special election in 2010 after the death of revered Democratic Senator Edward Kennedy.
Sept 19 (Reuters) – Pressure from governments to lower drug
prices risks undermining medical innovation, Bayer AG’s
chief executive said on Wednesday, echoing complaints
of other drug company executives.
Speaking at the Boston College Chief Executives’ Club,
Marijn Dekkers said there was “tremendous pressure” on
drugmakers to lower prices.
A previously unknown scrap of ancient papyrus written in ancient Egyptian Coptic includes the words “Jesus said to them, my wife,” — a discovery likely to renew a fierce debate in the Christian world over whether Jesus was married.
BOSTON (Reuters) – A previously unknown scrap of ancient papyrus written in ancient Egyptian Coptic includes the words “Jesus said to them, my wife,” — a discovery likely to renew a fierce debate in the Christian world over whether Jesus was married.
The existence of the fourth-century fragment — not much bigger than a business card — was revealed at a conference in Rome on Tuesday by Karen King, Hollis Professor of Divinity at Harvard Divinity School in Cambridge, Massachusetts.
BOSTON (Reuters) – Two new surveys show Democrat Elizabeth Warren ahead of incumbent Republican Scott Brown in the race for the U.S. Senate in Massachusetts, one of the year’s most costly and closely watched Congressional contests.
Regaining the seat – which Brown won by an upset in 2010 in a special election following the death of Democrat Edward Kennedy – would help the Democrats retain their slim majority in the Senate.