Wall Street retreats as Dow dips below 10000
Markets fell sharply as fears of a weaker global economy prompted risk-off selling. The Dow Jones slipped 268.37 to 10,002.18, the S&P 500 declined 34.17 to 1,063.11, and the Nasdaq fell 65.48 to 2,125.43 amid rising unemployment claims and European debt worries.
MENTIONED IN THIS ARTICLE
Dow Jones
Dow
Standard & Poor
Northey to Speak on Agriculture’s Iowa Economy
Iowa Secretary of Agriculture Bill Northey will address the impact of farming on the state economy at a Coralville breakfast hosted by the Iowa City Area Chamber of Commerce. The event runs 7:30 to 8:30 a.m. on February 26 at Hills Bank & Trust Co. The cost is 10 dollars for members and 12 dollars for non members. RSVP by February 24 via email or phone.
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Iowa
Bill Northey
Iowa City
Chamber of Commerce
Hills Bank & Trust Co
Coralville
Iowacityarea
Charges filed against Bank of America and former CEO
New York Attorney General files civil charges against Bank of America and former CEO Ken Lewis for allegedly misleading investors about Merrill Lynch before the 2009 acquisition. Former CFO Joe Price, now head of consumer banking, faces charges. SEC settles parallel federal charges.
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New York
Bank of America
Ken Lewis
Merrill Lynch
Wall Street Bank
Joe Price
Andrew Cuomo
Securities and Exchange Commission
SEC
Mortgage rates edge above 5 percent this week
Freddie Mac reported modest increases in mortgage rates this week. The 40 year fixed averaged 5.01 percent, up from 4.98, while 15 year fixed rose to 4.40 percent from 4.39. Five year adjustable mortgages averaged 4.27 percent.
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Freddie Mac
Associated Press, Gazette
Culver clears path for recovery bond financing in Iowa
Iowa Governor Culver signed an executive order to let the Iowa Finance Authority determine which flood recovery projects qualify for Midwestern Disaster Area bonds. The bonds, authorized in 2008, aim to fund loans to businesses at reduced interest, with 20 year terms possible, for land, buildings, fixtures, and flood repair. Cargill and Reel Deal Holdings have so far used the program.
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George C. Ford
Gazette
Iowa
Chet Culver
Culver
Iowa Finance Authority
Congress
Cargill
Cedar Rapids
Reel Deal Holdings LLC
Cedar Falls
Dean Spina
Bradley and Riley PC
Internal Revenue Service Inter
IRS
Lori Beary
Beary
Reel Deal Holdings
Robotic surgery program aids visiting doctors at St Luke's
Doctors from Illinois Wisconsin and Iowa observe Dr Jerry Rozeboom perform gynecologic robotic procedures at St Luke's Cedar Rapids using a 1.9 million dual console. St Luke's named a Robotic Epicenter by Intuitive Surgical with 15 sites nationwide.
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Cindy Hadish
Gazette
Cedar Rapids
St. Luke’s
Intuitive Surgical
United States
John Kays
Intuitive
Ames
Malaki
Mercy Medical Center
Mercy Iowa City
University of Iowa
Iowa City
David Bender
Julie Koehn
the Gazette
Afshin Malaki
Mary Greeley Hospital
Jerry Rozeboom
Deborah Wooldridge
da Vinci Surgical System
St. Luke’s Hospital
Toyota Reviews 2010 Prius Brakes After NHTSA Inquiry
Toyota said it is evaluating brake problems on the 2010 Prius with no recall decision. The NHTSA opened an investigation after 124 consumer reports, including four crashes, citing possible momentary anti lock brake failure in slippery conditions.
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Toyota
National Highway Traffic Safety Administration
Toyota recalls and repairs may cost $1.1 billion
Toyota estimates recalls and repairs for over 5.6 million vehicles will cost about 1.1 billion with losses from shaken consumer confidence potentially 770 million to 890 million. The quarter to December 31 shows a 1.7 billion profit on 58.9 billion in sales as 10 percent higher than a year earlier.
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Detroit Free Press
Detroit
Toyota
Sasaki
Bob Carter
United States
U.S
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Bobo
Hadish
Rozeboom
Associated Press
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