Mortgage and Jobs News Across the Nation
U.S. mortgage rates rose slightly with the 30 year at 4.14 percent and the 15 year at 3.23 percent. Unemployment benefit claims edged up to 312000 with a four week average of 310250 the lowest since June 2007. Rite Aid lowers fiscal 2015 earnings expectations to 298 million to 408 million dollars. IMF urges China to contain rising debt and avoid stimulus unless growth falls well below 7.5 percent.
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Associated Press
GM fires 15 over ignition switch recall scandal
Warren Michigan GM says 15 employees were removed over the ignition switch debacle and a compensation fund will aid crash victims. The recall expanded to 2.6 million cars with at least 13 deaths linked, as a 315 page report cites silos and slow action rather than a cover up.
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ECB expands stimulus with negative rate and cheap loans
The European Central Bank moves to revive eurozone growth by cutting the benchmark rate to 0.15 percent, deploying a negative deposit rate of 0.1 percent, and offering ultra cheap loans to banks on the condition they boost lending to businesses, with an estimated program size potentially in the hundreds of millions.
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France appeals over BNP Paribas fine during Obama talks
Paris fights a potential multibillion dollar U.S. fine on BNP Paribas over currency transactions tied to Iran Sudan and Cuba between 2002 and 2009. Investigators review matters as Obama defers intervention citing separation of powers. The dispute could hit Europe’s financial sector and other banks.
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