Money | MyFOX Spokane

Lawyers: Iowa CEO to plead guilty to $200M fraud

Submitted by Fox First at Ten on September 11th

By RYAN J. FOLEYAssociated Press CEDAR RAPIDS, Iowa (AP) - The founder of an Iowa brokerage has signed a plea agreement with federal prosecutors in which he admits to carrying out a $200 million fraud and embezzlement scheme that bankrupted his company and could result in him spending the rest

Prices of Facebook stock since long-awaited IPO

Submitted by Fox First at Ten on September 11th

By The Associated Press Facebook's stock has been down on 46 trading days, up on 32 and unchanged on two since its initial public offering. Facebook began trading publicly in mid-May following one of the most anticipated stock offerings in history. The IPO priced at $38, at the top of a

Minnesota woman loses music downloading appeal

Submitted by Fox First at Ten on September 11th

By STEVE KARNOWSKIAssociated Press MINNEAPOLIS (AP) - A Minnesota woman accused of sharing songs online owes record companies $222,000 for willful copyright violations, a federal appeals court said Tuesday, reversing a lower court's ruling in a long-running lawsuit over music downloading. A

Experts say fake bomb used in Calif. bank robbery

Submitted by Fox First at Ten on September 11th

MORENO VALLEY, Calif. (AP) - Bomb squad experts concluded Tuesday that the suspicious box an armed bank robber left at a Moreno Valley bank was a fake bomb. The robbery occurred shortly after 8:30 a.m. at a Chase branch in Moreno Valley when two bank employees were arriving to work. The man, who

WHY IT MATTERS: The Economy

Submitted by Fox First at Ten on September 11th

By PAUL WISEMANAP Economics Writer The issue: The U.S. economy is weak and the job market brutal. Nearly 13 million Americans can't find work. The national unemployment rate is 8.1 percent, three years after a recession supposedly ended. A divided Washington has done little to ease the

Minnesota woman loses music downloading appeal

Submitted by Fox First at Ten on September 11th

IRS pays whistleblower $104 million

Submitted by Fox First at Ten on September 11th

By STEPHEN OHLEMACHER WASHINGTON (AP) - The Internal Revenue Service has awarded an ex-banker $104 million for providing information about overseas tax cheats - the largest amount ever awarded by the agency, lawyers for the whistleblower announced Tuesday. Former Swiss banker Bradley Birkenfeld

WHY IT MATTERS: The Economy

Submitted by Fox First at Ten on September 11th

Judge: US civil trials at risk without budget deal

Submitted by Fox First at Ten on September 11th

By MARK SHERMANAssociated Press WASHINGTON (AP) - Federal civil jury trials in the United States probably would grind to a halt if Congress fails to reach a budget deal and $600 billion in automatic spending cuts kick in next year, a leading federal judge said Tuesday. The federal judiciary

German court ruling is key moment in debt crisis

Submitted by Fox First at Ten on September 11th

By DAVID McHUGH and GEIR MOULSON FRANKFURT, Germany (AP) - A closely watched ruling by Germany's Federal Constitutional Court could trip up European leaders' efforts to calm the region's debt crisis. The court - akin to the Supreme Court in the U.S. - will decide Wednesday whether