Government receipts reach record April surplus on budgets
The Treasury Department reported an April budget surplus of 156.7 billion dollars, up from 106.9 billion a year earlier, the largest monthly surplus since 2008. Total receipts were 471.8 billion dollars, the highest monthly total on record. Verizon Wireless and Sprint will pay 158 million collectively to settle cramming allegations for unauthorized premium text messaging services.
MENTIONED IN THIS ARTICLE
U.S
Treasury Department
Verizon Wireless
Sprint
Verizon
Summer gas prices to stay low this summer
The Energy Department forecasts U.S. gas prices averaging 2.55 per gallon from April to September, the lowest since 2009, with a typical household saving about 675 this year versus last. Crude rose to around 60 a barrel as drillers cut back on projects. Greece makes a 757 million euro IMF debt payment amid cash shortages as Syriza seeks bailout funds and reforms ahead of looming June repayments.
MENTIONED IN THIS ARTICLE
Energy Department
U.S
Greece
International Monetary Fund
Alexis Tsipras
USA SNAPSHOTS Federal minimum wage increase
A concise look at proposed federal minimum wage hikes and their potential impact on businesses. It weighs costs to payroll, hiring, and pricing against worker support and consumer demand. Analysts caution varied effects by industry and region, with small firms feeling tight margins.
Verizon AOL deal sparks Yahoo takeover chatter
Verizon agreed to pay 44 billion dollars for AOL to gain its advertising tech and video content for a new streaming service. Analysts say Yahoo could be next as telcos eye scale and assets, with Mayer under pressure to sharpen Yahoo amid Alibaba and Yahoo Japan stakes.
MENTIONED IN THIS ARTICLE
Verizon
AOL
Yahoo
Comcast
James McQuivey
Forrester Research
At&t
Telco
Marissa Mayer
Eric Jackson
Ironfire Capital
Mayer
Alibaba
Yahoo Japan
Jackson
Starboard Value LP Offe
McQuivey
Telcos
Facebook
Google
Five reasons yields rise as bond prices fall worldwide
Bond yields climb as investors shift from buying to selling on bets against German bonds. Commentary from Gross, Gundlach and Merk highlights deflation fade, inflation risk, and ECB QE. Rising yields reflect market repositioning rather than new fundamentals, with U.S. and German yields up and stocks watching for a possible correction.
MENTIONED IN THIS ARTICLE
Bill Gross
Janus
Jeffrey Gundlach
DoubleLine Capital
Axel Merk
Merk Investments
Bill Hornbarger
Moneta Group
Bond tantrum spurs global yield spike concerns
A short-term yield spike is described as a tantrum that began in the eurozone and spread worldwide. Analysts note the volatility may be healthy by moving yields away from uncharted levels and reducing the needed sell-off when the Fed raises rates later this year.
MENTIONED IN THIS ARTICLE
Eurozone
Kotok
Fed
Eric Lascelles
RBC Global Asset Management
ITT Executives Charged With Fraud By SEC in Lawsuit
The SEC charged ITT Educational Services and top executives CEO Kevin Modany and CFO Daniel Fitzpatrick with fraud. The agency said they hid the rising costs of two student loan programs PEAKS and CUSO, routed recoveries to future years, and kept delinquencies from investors while misleading auditors. ITT stock tumbled 43.5 percent after the allegations.
MENTIONED IN THIS ARTICLE
ITT Educational Services
Securities and Exchange Commission
ITT
Kevin Modany
Daniel Fitzpatrick
SEC
ITT Technical Institute
Daniel Webster College
Nicole Elam
Modany
Fredric Firestone
Fitzpatrick
Andrew Ceresney
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Getty Imag
U.S. Treasury
Yahoo Finance
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TrendMacro
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Federal Reserve
Adam Shell
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ECB
David Kotok
Cumberland Advisors
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