Palm Beach News
POST IN DEPTH Hardest Hit
A $7.6 billion program for states most affected by unemployment and the housing crash was slow to start up and has helped too few homeowners since it was launched two years ago, according to an inspector general report released Thursday. … [Read More...]
Real estate experts think 2012 might be year of the short sale
More than a quarter of all home sales in Palm Beach County last year were of bank-owned properties or homes purchased in a short sale, a sign of continued stress on a market where traditionally less than 1 percent of sales are of distressed homes. … [Read More...]
Real Estate News
Yahoo Nears Deal Over Stake in Alibaba
Yahoo is a hair's breadth away from a deal to sell part of its stake in Alibaba back to the Chinese company for $7.1 billion, finally succeeding after multiple attempts to wind down a seven-year relationship that had recently soured. … [Read More...]
Chesapeake Cuts Pay, Travel for Board
Chesapeake Energy said board members will take a 20% pay cut and no longer have personal use of company aircraft, the latest move by the embattled natural-gas company to placate critics. … [Read More...]
J.P. Morgan Struggles to Unwind Huge Bets
J.P. Morgan is struggling to extricate itself from disastrous wagers by traders such as the "London whale." Losses would grow if the banking company sells its positions into a market that has turned against its positions. … [Read More...]
Pinterest Valued at $1.5 Billion
Pinterest, the online scrapbooking website that has become the latest Silicon Valley darling, has raised $100 million in a financing round that values the start-up at $1.5 billion. … [Read More...]
Boyd to Buy Peninsula Gaming for $745 Million
Boyd Gaming said it will acquire privately held casino operator Peninsula Gaming at a cost of $745 million and is also refinancing $700 million of Peninsula's existing debt. … [Read More...]
J.C. Penney Posts Loss; Stock Slumps
J.C. Penney swung to a loss in its latest quarter on restructuring costs and a 20% drop in sales. Its shares fell sharply, as the retailer also suspended its dividend. … [Read More...]
Yahoo CEO’s Downfall
How the error in former Yahoo CEO Scott Thompson's bio led to his resignation. … [Read More...]
Missing: Stats on Crisis Convictions
How many executives have been convicted of criminal wrongdoing related to the tumultuous events of 2008-2009? The Justice Department doesn't know the answer. … [Read More...]
Japan’s Leader Turns Trade Focus to China, South Korea
Japan's prime minister pledged Saturday to accelerate efforts to form a free-trade agreement with China and South Korea. … [Read More...]
Spain Tries Again to Clean Up Its Banks
The Spanish government will force local banks to set aside an additional $38.81 billion to cover potential losses and to speed up the sale of troubled assets. … [Read More...]
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