Wall Street Ends Lower Amid Debt Default Anxiety
Stocks closed lower as signs of an economic slowdown and looming U.S. debt default spurred fear of a rating downgrade. The Dow fell 199 points to 12,303, the S&P 500 dropped 27 to 1,305, and the Nasdaq slid 75 to 2,760.
MENTIONED IN THIS ARTICLE
New York
United States
Washington, D.C
U.S
Standard & Poor
MidWestOne buys back TARP warrant
MidWestOne Financial Group repurchased a U S Treasury TARP warrant for 198 675 shares at 12 08 per share with a 1 million price. The board declared a third quarter cash dividend of 6 cents per share, up 20 percent from the prior two quarters, payable Sept 15 to holders of record Sept 1.
MENTIONED IN THIS ARTICLE
Iowa City
MidWestOne Financial Group
U.S. Treasury
Treasury
MidWestOne
Whole Foods to open in Detroit in Midtown market
Austin based Whole Foods Market plans its first Detroit store a 20000 square foot supermarket in Midtown opening in 2013. It will employ about 75 people and aims to fill a retail gap as Detroit loses outlets over three decades. Shares of Dunkin Brands jumped on debut trading up to 27.85.
MENTIONED IN THIS ARTICLE
Detroit
Whole Foods Market Inc
New York
Dunkin’ Brands Group Inc
Dunkin
ISPs move to charge per data use hurting streaming demand
ISPs like AT T Verizon and Comcast push data caps on mobile and home Internet arguing video traffic strains networks. Analysts say caps could deter viewers from streaming on smartphones or computers as video traffic rises to dominant share. Netflix Chief Reed Hastings notes most new customers pick streaming only and Netflix raised prices for a DVD add on.
MENTIONED IN THIS ARTICLE
Cecilia King
Washington Post
Netflix
At&t
Verizon
Comcast
Nies
Reed Hastings
Fourth Bureau Emerges in Personal Data Debacle
An investigative report details L2C founder Mike Mondelli’s archive of more than a billion consumer records sourced from everyday transactions. The data, dubbed the fourth bureau, tracks wallets beyond Experian, Equifax, and TransUnion and shapes credit decisions for millions. Errors in these files harm credit histories, yet no standard or accuracy checks exist.
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Ashington
Atlanta
Mike Mondelli
L2c
Experian
Equifax
TransUnion
Mondelli
Fourth Bureau
Arkansas
Catherine Taylor
Red Cross
ChoicePoint
Taylor
Lowe's
IRS eases innocent spouse relief rules for tax debt
The IRS removes the two year limit for some innocent spouse relief applications after abuse and divorce disclosures. Commissioner Doug Shulman says many victims, often women, face tax debt from a partner's underreporting through no fault of their own and may still need to show non participation. Some cases still fall under the two year constraint.
MENTIONED IN THIS ARTICLE
Associated Press
Washington
Internal Revenue Service
IRS
Doug Shulman
Federalcontracts go to big firms, Senate says
A Senate inquiry found federal contracts intended for small businesses often go to large corporations. The probe notes loopholes and rule gaps inflate small business contract totals and cites major defense contractors among top recipients.
MENTIONED IN THIS ARTICLE
David Goldstein McClatchy
Washington
Senate
Claire McCaskill
Homeland Security and Governmental Affairs Contracting Oversight Subcommittee
Federal
Defense
Lockheed
Raytheon
General Electric
American Small Business League
Office of Inspector General
The
Small Business Administration
SBA
Joseph Jordan
Jordan
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Whole Foods
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Benton, Ark