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World economy out of free fall

The world grouping OECD said on Friday the global economy was out of free fall, offering hope of recovery late this year, but investors focused on risks to the U.S. credit rating from rising government debt.

Gates defends U.S. missile defense cuts

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Defense Secretary Robert Gates on Wednesday defended cuts to U.S. missile defense programs, saying Washington would still invest in boosting defenses against long-range missile threats, like those posed by North Korea and Iran.
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BankUnited sees Miami expansion, no layoffs

Florida-based BankUnited, which was closed by the U.S. government and sold to investors, was conducting business as usual on Friday and there was no sign of panic among customers, its new chief executive said.
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Lowe's profit tops view

Lowe's Cos Inc posted better-than-expected quarterly profit on Monday as it saw some strength in outdoor projects like gardens and lawns in the spring, even as consumers still shunned big home renovations.
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Hunt for Madoff money to drag on for years

Five months after Bernard Madoff's massive fraud was revealed, little of his victims' money has been found and it appears increasingly likely that the worldwide hunt for their missing billions will drag on for years.
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CPI, production data point to easing recession

U.S. economic data offered more evidence on Friday that the recession's worst phase may be over, with April consumer prices unchanged and industrial output declining at a slower pace than in March.
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U.S. foreclosures jump to record high

U.S. foreclosure activity in April jumped 32 percent from a year ago to a record high, and should mount because temporary freezes on foreclosures ended in March, RealtyTrac said on Wednesday.
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Miami Area

Miami is one of the nation’s most well-rounded metropolitan destinations due to its arts scene, shopping, family attractions, and hotspot Miami Beach.
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Greenspan sees

Former Federal Reserve Chairman Alan Greenspan said on Tuesday that
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Natural Gas Weekly Update -May 7

Natural gas spot prices rose this week at almost every market location, with increases generally ranging between 10 and 30 cents per million Btu (MMBtu).
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More than one in five homeowners underwater: Zillow

Home values in the United States extended their fall in the first quarter, with more than one in five homeowners now owing more on their mortgages than their homes are worth, real estate website Zillow.com said on Wednesday.
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Wall Street to open higher after encouraging data

Wall Street was poised for a higher open on Wednesday as encouraging signs about the job market offset renewed concern about the health of banks after a source told Reuters stress tests show Bank of America has a $34 billion capital shortfall.
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Almost 3 in 10 U.S. homeowners underwater in Q1: Zillow

Home values in the United States extended their fall in the first quarter, with almost three in ten homeowners now owing more on their mortgages than their homes are worth, real estate website Zillow.com said on Wednesday.
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CORRECTED: More than one in five homeowners underwater: Zillow

Zillow issued a correction to its report, and following that this corrects headline and 1st paragraph to say more than one in five homeowners, not almost 3 in 10 homeowners. Corrects paragraph 4 to declining home values left 21.9 percent, not 28.9 percent
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Chrysler bankruptcy has dealers on razor's edge

Chrysler's car dealership network is on the verge of collapse, a U.S. bankruptcy court heard on Monday, as hundreds of dealerships have closed their doors this year and uncertainty about the company's future is driving consumers away.
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How Banks Become Condo Rental Agents

Last month in a Boston foreclosure sale, John Hancock Tower Lenders Took, a 65% Haircut In 3 Years . Boston is back in the news today with another foreclosure auction. This time it's condo related, with Chorus Bank in the thick of things.

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