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Boehner plan ends tax cuts for rich, poor

Boehner plan ends tax cuts for rich, poor
Submitted by Fox First at Ten on December 20th
By STEPHEN OHLEMACHERAssociated Press WASHINGTON (AP) - Taxpayers making more than $1 million would get hit with tax increases averaging $100,000 next year under House Speaker John Boehner's alternative tax bill, according to an independent analysis. Some low-income people would get smaller tax

Asia stocks fall as US budget negotiations stall

Asia stocks fall as US budget negotiations stall
Submitted by Fox First at Ten on December 20th
By PAMELA SAMPSONAP Business Writer BANGKOK (AP) - Heightened uncertainty about the outcome of budget negotiations in Washington among President Barack Obama, House Speaker John Boehner and other Republican lawmakers drove Asian stock markets lower Friday. If a compromise is not in place by Jan. 1

UBS faces Hong Kong interest rate probe

UBS faces Hong Kong interest rate probe
Submitted by Fox First at Ten on December 20th
By KELVIN CHANAP Business Writer HONG KONG (AP) - Hong Kong financial authorities said Thursday that they are investigating Swiss bank UBS over possible misconduct related to the Asian financial center's benchmark interest rate. The announcement by the Hong Kong Monetary Authority, the city

Google to sell part of Motorola for $2.35 billion

Google to sell part of Motorola for $2.35 billion
Submitted by Fox First at Ten on December 19th
By MICHAEL LIEDTKEAP Technology Writer SAN FRANCISCO (AP) - Google is selling Motorola Mobility's TV set-top business for $2.35 billion, lightening the load that the Internet search leader took on earlier this year when it completed the biggest acquisition in its history. The cash-and-stock

Watchdog: Fannie, Freddie may have lost over $3B

Watchdog: Fannie, Freddie may have lost over $3B
Submitted by Fox First at Ten on December 19th
By MARCY GORDONAP Business Writer WASHINGTON (AP) - A federal watchdog has found that government-controlled Fannie Mae and Freddie Mac may have lost more than $3 billion from big banks' alleged rigging of a key interest rate. The staff of the inspector general for the Federal Housing Finance

Watchdog: Fannie, Freddie may have lost over $3B

Watchdog: Fannie, Freddie may have lost over $3B
Submitted by Fox First at Ten on December 19th
By MARCY GORDONAP Business Writer WASHINGTON (AP) - A federal watchdog has found that government-controlled Fannie Mae and Freddie Mac may have lost more than $3 billion from big banks' alleged rigging of a key interest rate. The staff of the inspector general for the Federal Housing Finance

Amid Newtown tragedy, scam artists creep in

Amid Newtown tragedy, scam artists creep in
Submitted by Fox First at Ten on December 19th
By CHRISTINA REXRODE and ROBERT RAYAssociated Press NEWTOWN, Conn. (AP) - The family of Noah Pozner was mourning the 6-year-old, killed in the Newtown school massacre, when outrage compounded their sorrow. Someone they didn't know was soliciting donations in Noah's memory, claiming that

FDA chief renews push for specialty pharmacy rules

FDA chief renews push for specialty pharmacy rules
Submitted by Fox First at Ten on December 19th
By MATTHEW PERRONEAP Health Writer SILVER SPRING, Md. (AP) - The head of the Food and Drug Administration renewed her push Wednesday for new laws to help police pharmacies like the one that triggered a deadly meningitis outbreak, even as members of Congress expressed little interest in cooperating

FDA chief renews push for specialty pharmacy rules

FDA chief renews push for specialty pharmacy rules
Submitted by Fox First at Ten on December 19th
By MATTHEW PERRONEAP Health Writer SILVER SPRING, Md. (AP) - The head of the Food and Drug Administration renewed her push Wednesday for new laws to help police pharmacies like the one that triggered a deadly meningitis outbreak, even as members of Congress expressed little interest in cooperating

Corn drops as ethanol fuel inventories increase

Corn drops as ethanol fuel inventories increase
Submitted by Fox First at Ten on December 19th
By SANDY SHOREAP Business Writer An increase in ethanol inventories has sent the price of corn to its lowest level since July. Corn for March delivery fell 17 cents to finish at $7.03 a bushel Wednesday. That's the lowest since July 6, just about the time that last summer's record-setting