Obama Student Loan Policy Reaping $51 Billion Profit
The Obama administration is forecast to turn a record $51 billion profit this year from student loan borrowers, a sum greater than the earnings of the nation’s most profitable companies and roughly equal to the combined net income of the four largest U.S. banks by assets. Figures made public Tuesday by the Congressional Budget Office [...]
HSBC has said it may cut an additional 14,000 jobs globally as part of a restructuring plan to reduce costs and increase profitability. The bank is aiming to save another $3bn (£2bn) in annual costs as tougher regulations eat into profits. The layoffs would cut the firm’s total headcount to between 240,000 and 250,000 over [...]
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Google CEO Larry Page is finally disclosing the health problem that spooked investors last summer when he mysteriously lost his voice. In a Tuesday post on his Google Plus profile, Page says he is afflicted with a paralyzed left vocal cord and a severely restricted right vocal cord. He traced the trouble to a bad [...]
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China is one of a number of countries that has gained permanent observer status on the Arctic Council. At a meeting in Sweden, the eight members of the Council accepted India, Italy, Japan, South Korea and Singapore. However following dissent from Canada, a decision on the EU’s application has been deferred. The permanent observers have [...]
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WASHINGTON, May 14 (Reuters) – The U.S. deficit is shrinking considerably more quickly than previously thought, the Congressional Budget Office said on Tuesday in a report that could sap Congress’ sense of urgency to find further budget savings. In one fell swoop, the non-partisan budget referee slashed its deficit forecast for the current fiscal year [...]
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Sometime very soon, probably Wednesday, somebody will download the 50 billionth app on iTunes. Apple will give the lucky downloader a $10,000 App Store gift card. The next 50 people to download an app after that will each receive a $500 gift card. If you’re curious to see when this might happen so you can [...]
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An anonymous bidder paid $610,000 to chat over coffee with Apple’s chief executive, according to online-auction site Charity Buzz, which began accepting bids about three weeks ago. Tuesday’s winning bid came only several minutes before the auction closed at 4 pm ET. The auction site had valued the meeting with Cook at $50,000. Proceeds from [...]
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PARIS — The euro zone economy shrank more than expected in the first three months of 2013, official data showed Wednesday, marking a sixth consecutive quarter of decline as France returned to recession and Germany marked time. The 17-nation euro zone contracted by 0.2 percent from the last three months of 2012, Eurostat, the statistical [...]
Continue reading …Three Chinese airlines received “false bomb threats” on Wednesday that caused disruption to five different domestic flights destined for the southern city of Shenzhen, state-run media reported. Shenzhen Airlines said on its official microblog account that it had received multiple threats that lead it to reroute two flights and delay another. A flight to Shenzhen [...]
Continue reading …SEOUL — Samsung Electronics said Monday it had made a key breakthrough in developing mobile technologies for so-called fifth-generation networks that would provide data transmission up to several hundred times faster than the current fourth-generation, or 4G, technology. The breakthrough helped Samsung overcome limitations in transmitting large volumes of data over long distances using a [...]
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