Congress Begins Overhauling Regulatory System
Lawmakers on Capitol Hill are ready to start writing new rules for the financial industry. The process is expected to take many months, and it began with a hearing Tuesday by the House Financial Services Committee.
Comparing Plans To Help Troubled Homeowners
As the Treasury moves ahead with plans to shore up the country's troubled banks, there are increasing calls for the government to do more to help troubled mortgage holders. Guy Cecala, who publishes an industry newsletter called Inside Mortgage Finance, says all the proposals have one goal in mind: keep the borrowers in their homes.
No Cash Flow Problems In Obama Campaign
As the presidential candidates enter the homestretch, Democrat Barack Obama has more campaign funds than Republican John McCain. At the end of last month, McCain had $47 million, and Obama had a staggering $134 million. Analysts say Obama has plenty of time to put that cash to use before the Nov. 4 election.
Public Financing May Need Another Look
Democratic presidential hopeful Barack Obama has opted out of public financing. He has used social networking sites on the Internet, among other strategies, to raise record amounts of contributions. Obama's fundraising success could mean another failure for the public financing system. Anthony Corrado, a political scientist at Colby College, talks with Renee Montagne about the future of public financing.
Can Sumner Redstone Keep Media Empire Afloat?
Media mogul Sumner Redstone is having money troubles. He has had to sell stock in CBS and Viacom to raise money to help with a loan for $1.6 billion for his privately held chain of theaters. To stay afloat, Redstone may have to sell CBS or Viacom.
Minn. GOP Senator Faces Tough Re-Election Bid
Sen. Norm Coleman is facing challenges from comedian-turned-Democratic politician Al Franken and third-party candidate Dean Barkley. Both are attacking the GOP incumbent for supporting the $700 billion bailout — calling it a hurried decision that makes citizens pay for bad government.
Networks Police YouTube For Copyright Violations
The presidential campaigns have fallen victim to a common copyright problem on the Internet. News networks complained that campaign commercials were using their footage, and they demanded that YouTube take them off its site. Free speech advocates say this is a high-profile case that is part of an ongoing problem.
iPhone Boosts Apple's Profits
Apple Inc. reports that it sold nearly 7 million iPhones in the most recent quarter. The success of its latest product helped boost overall profits 26 percent. But it's not just the iPhone that's boosting Apple's fortunes. The company also sold record numbers of Macintosh computers and iPods.
Yahoo Posts Sharply Lower Profits
Yahoo announced Tuesday that it will cut 1,500 people from its work force as it struggles with plunging profits — a 64 percent drop from the same time last year. Weak ad sales continue to be a key culprit.
Rice Shortage A Silver Lining For Calif. Farmers
Rice farmers in California are benefiting from a shortage of rice in the world market. Because the prices of other grains were rising, many major rice exporting countries decided to keep their surplus at home this year. That has doubled the price of rice used in most Asian and Mediterranean cuisines.