- Beretta leaves Maryland over gun laws, heads for Tennessee
- Neal Boortz defends Hillary Clinton for representing child rapist
- House task force to recommend National Guard on border, faster deportations
- Top federal judge uses pizza to explain complex Obamacare situation
- Obama, Biden overhaul job training programs
- Drought-plagued Californians turn to paint to keep lawns green
- ISIL now forcing Iraqi shopkeepers to veil mannequins in Mosul
- 11 parents of Nigeria’s abducted girls die
- Genetic mapping triggers new hope on schizophrenia
- Turkish P.M. Erdogan won’t speak to Obama, but he’ll take calls from Biden
Question of the Day
Home sales fell to 2011 low
Fewer people purchased previously occupied homes in May, lowering sales to their weakest point of the year.
Home sales sank 3.8 percent last month to a seasonally adjusted annual rate of 4.81 million homes, the National Association of Realtors said Tuesday. Economists say that’s far less than the 6 million homes per year sold in healthy housing markets.
Analysts said they expect sales to level off at about 5 million per year. That’s not much better than the 4.91 million homes sold last year, the worst showing in 13 years.
JPMorgan to settle civil fraud charges
JPMorgan Chase & Co. will pay $153.6 million to settle civil fraud charges over misleading investors into purchasing complex mortgage securities just before the housing market collapsed.
The settlement with the Securities and Exchange Commission announced Tuesday is one of the most significant legal actions targeting Wall Street’s role in the 2008 financial crisis.
As part of the settlement, investors who were harmed will receive all of their money back, the SEC said. JPMorgan also agreed to improve the way it reviews and approves mortgage securities transactions.
The bank neither admitted nor denied wrongdoing under the settlement.
Publisher lays off 700 more workers
The nation’s largest newspaper publisher is laying off another 700 employees to cope with an unrelenting advertising slump.
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