The Securities and Exchange Commission (SEC) has charged a municipality for allegedly making misleading financial statements outside of the usual securities filings. The SEC faulted Harrisburg, Pennsylvania , the state’s capital, for misleading statements in the city’s budget report and the mayor’s state-of-the-city address during the 2009-2011 period. At the time, Harrisburg was teetering on the brink of bankruptcy, and it remains in financial straits today, with a state-appointed receiver overseeing its finances.
The U.S. is home to some of the greatest colleges and universities in the world.
Occidental Petroleum chairman Ray Irani lost his job Friday after 76% of shareholders opposed his reelection, the latest high-profile executive to be shown the doors.
It's May again, so that means you can't turn on financial TV without being bombarded with advice to dump all your stocks until the end of the summer when it's safe to buy them again. This advice, "Sell in May and go away," is based on analyses of average market performance by month over the past 50 years. Related: Dow 15,000: 'Sometimes a Bullish Market Is Just a Bullish Market' As you would expect (based on the aphorism), and as you can see in this char t, May has tended to be a weak month for stock performance, though stocks have still delivered a positive return in the month
By Michael Santoli The Dow Jones Industrial Average jumped above 15,000 for the first time in its long history Friday morning on the strength of a thousand fears going unrealized. The employment report for April — showing a greater-than-forecast 165,000 new jobs and an unemployment rate slipping down to 7.5% — was just the latest bit of economic news that looked merely OK but was good enough to allay widespread anxiety that the U.S.
Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget, a non-profit organization committed to analyzing and influencing fiscal policy, says the next five months are critical for budget reform. In an interview at the Milken Institute's 2013 Global Conference, MacGuineas argues that Washington needs to replace the sequester with a bigger debt deal – one that tackles the “real problem areas of the budget” such as health care, aging and an outdated tax code
An estimated 11 million immigrants are living illegally in the U.S. That could change if Congress approves immigration reform, now making its way on the Hill. The Senate has a bill developed by a bipartisan group of eight including Republican John McCain of Arizona and Democrat Michael Bennett of Colorado that would put undocumented immigrants on a 13-year path to U.S
One of the most common numbers you hear if you listen to stock forecasts is the "P/E ratio"--the price of the stock or market relative to the company's earnings. Sometimes, the P/E ratio can be very useful for getting a sense of whether a stock or market is cheap or expensive. At other times, however, the number can be highly misleading
Many market strategists credit the Federal Reserve with the rally that has pushed the Dow and the S&P 500 to record highs.
The U.S. Treasury this week announced plans to retire $35 billion in notes , the first time the government has paid down debt since 2007. It’s a significant milestone for Treasury and $35 billion is a lot of money for mere mortals, but barely a drop in the $16.7 trillion bucket of our nation’s debt.