Student loan rate hike: What you need to know
WASHINGTON (CNNMoney) — On July 1, the interest rates on student loans subsidized by Uncle Sam will double to 6.8%. The upshot? Students taking out loans for the next school year will have to dig deeper in their pockets to pay them off. Unless Congress steps in to stop the increase from going forward. [...]
Read MoreSprint hit with $300 million tax fraud lawsuit
NEW YORK (CNNMoney) — New York’s attorney general filed a tax fraud lawsuit against Sprint Nextel on Thursday, accusing the wireless carrier of intentionally underpaying sales tax in the state for seven years. Starting in 2005, Sprint stopped collecting and paying New York sales tax on around 25% of the revenue from its fixed-price monthly [...]
Read MoreEconomists: Congress won’t fix economy
NEW YORK (CNNMoney) — Economists have lots of ideas about what can be done to help jumpstart the still weak economy, but they don’t expect Congress to enact any of them any time soon. A survey of economists by CNNMoney found most don’t expect Congress to pass any kind of economic assistance anytime in the [...]
Read MoreFiscally-distressed country’s king goes elephant hunting
What do you get a king whose country has 23% unemployment, rapidly rising bond yields and mounting sovereign debt problems? A secret, luxurious, elephant hunting trip to Botswana, of course. At least that’s how Spain’s 74-year old King Juan Carlos was busying himself last week before falling and hurting his leg, an injury that required his [...]
Read MoreWatchdog blasts housing program for ‘hardest hit’
WASHINGTON (CNNMoney) — A federal-state program aimed at helping homeowners in states hardest hit by the mortgage crisis is falling far short of its goals, a federal watchdog said in a report released Thursday. In the report, the Special Inspector General for the Troubled Asset Relief Program (TARP) said that just 3% of $7.6 billion [...]
Read MoreDon’t overlook this $6,000 tax credit
NEW YORK (CNNMoney) — Many of the people who could use a little extra money the most are missing out on a tax credit worth up to nearly $6,000. Aimed at helping the working poor, the Earned Income Tax Credit lifts millions of Americans out of poverty each year, yet one in five taxpayers eligible [...]
Read MoreObama forms group to streamline natural gas policies
NEW YORK (CNNMoney) — President Obama issued an executive order Friday, establishing a meeting of the minds to work on natural gas policies for his administration. The executive order creates a new working group made of representatives from at least 13 government agencies, including the Department of Defense, the Department of Energy and the Environmental [...]
Read MoreAT&T’s $350 million plan to groom new U.S. workers
NEW YORK (CNNMoney) — While Americans struggle to finds jobs, some of the country’s biggest companies insist they’re struggling just as hard to find workers with the skills they need. “We are interviewing 11 people to find one qualified candidate,” AT&T CEO Randall Stephenson told CNNMoney in a recent interview. “It’s stunning to me.” [...]
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