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Yahoo! News: Business News
Central bank liquidity tap to stay open (Reuters) Reuters - rallies that caught many in the market by surprise - investors will be paying keen attention to the world's central banks in the coming week for signs of continued easy money.
Greek banks recap via common shares with restrictions: source (Reuters) Reuters - Greece has agreed to recapitalize its struggling banks after a planned bond swap largely through common shares with restricted voting rights, a banking source told Reuters on Saturday.
Jobless rate at 3-year low as payrolls surge (Reuters) Reuters - The United States created jobs at the fastest pace in nine months in January and the unemployment rate unexpectedly dropped to a near three-year low, giving a boost to President Barack Obama.
Hungary seeks 15-20 billion euro IMF/EU credit line: official (Reuters) Reuters - Hungary is seeking an international credit line of 15 to 20 billion ($20 to $26.3 billion) euros, the secretary of state heading the prime minister's office, Mihaly Varga, was quoted on Saturday as saying.
Analysis: Stock-picking makes a comeback as macro tides fade (Reuters) Reuters - Stock-picking once again matters on Wall Street.
Nervous markets eye U.S. jobs report, Greece (Reuters) Reuters - Caution ahead of U.S. jobs numbers kept a lid on gains for stock markets on Friday after an optimistic start to the year that has added more than 7 percent to global company values.
Jobs numbers boost Obama, needs lasting trend (Reuters) Reuters - An unexpectedly strong jobs report on Friday boosted President Barack Obama's re-election prospects, but the trend must last to deny his opponents the biggest cudgel they have to bash him before the November election.
Aon Q4 profit rises, but margin pressures persist (Reuters) Reuters - Aon Corp posted a higher quarterly profit that narrowly beat market estimates, but the world's largest insurance broker continued to face margin pressures in its Aon Hewitt segment for the second-straight quarter.
Clinton: US, Europe must do more against tyrants (AP) AP - The Obama administration on Saturday called for stepped up U.S.-European cooperation to isolate tyrannies like the Assad regime in Syria, promote democracy in the Arab World and beyond and repair damage from the global financial crisis.
New York sues banks over electronic mortgage system (Reuters) Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices.
Report: Monti says Italy a "safe place" (AP) AP - Italy is now a "safe place" amid market turbulence, Premier Mario Monti said in an interview published Saturday, pressing for Europe to turn its political energy to generating growth rather than further plans to strengthen budget discipline.
Euro zone sales tumble at Christmas, no sign of growth (Reuters) Reuters - Retail sales in the euro zone tumbled unexpectedly in December, the biggest drop in the Christmas period in three years, data showed on Friday, with rising joblessness and stubborn inflation undercut signs of a stabilization in Europe's economy.
Romney focuses on Obama, Gingrich on Romney in NV (AP) AP - A confident Mitt Romney accused President Barack Obama of failing to do enough to create jobs as he campaigned Friday ahead of GOP presidential caucuses this weekend in a state with sky-high unemployment and foreclosure rates. Newt Gingrich, who is fighting for a respectable showing here, rolled out a fresh line of criticism by comparing the former Massachusetts governor to Obama.
Russia admits brief cut of gas supplies to Europe (AP) AP - Russia's state-controlled Gazprom natural gas giant acknowledged for the first time Saturday that it had briefly reduced gas supplies to Europe amid a spell of extreme cold.
Palestinians call for PM's fall over taxes (AP) AP - Hundreds of Palestinian protesters have called for their prime minister's resignation over recent tax and price increases.
Detroit automakers say 'no' to Japan joining trade talks (Reuters) Reuters - Detroit automakers are urging President Barack Obama to reject Japan's bid to join talks on a regional free trade agreement, the head of an automotive group representing GM, Ford and Chrysler said on Thursday.

Yahoo! News: Personal Finance News
New York sues banks over electronic mortgage system (Reuters) Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices.
NY's Schneiderman sues banks in foreclosure effort (AP) AP - New York's attorney general on Friday accused some of the nation's largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures.
Goldman to face mortgage debt class-action lawsuit (Reuters) Reuters - Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender.
If Japan Is Our Worst-Case Scenario, We're All Right (The Motley Fool) The Motley Fool - In 1991, former MIT dean Lester Thurow wrote that "If one looks at the last 20 years, Japan would have to be considered the betting favorite to win the economy honors of owning the 21st century."
Analysis: Obstacles high for more mortgage prosecutions (Reuters) Reuters - Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders.
Rate on 30-year mortgage falls to record 3.87 pct. (AP) AP - The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.
3 investments for an era of low interest rates (AP) AP - The Federal Reserve is making it increasingly hard for investors to earn anything, unless they're willing to accept plenty of risk. Ben Bernanke and his Fed are playing the role of adviser, encouraging Americans to get a little more adventurous by shifting savings out of low-yielding bonds and putting it to work in stocks.
Wynn's 4th-qtr profit up 67 pct as revenue climbs (AP) AP - Wynn Resorts Ltd. said Thursday that revenue growth in its Macau and Las Vegas casinos and a sizable income tax gain helped drive profit up 67 percent in the last three months of 2011.
Sallie Mae will credit $50 fee to suspend payments (AP) AP - Private student lender Sallie Mae is changing how it handles a fee it charges struggling borrowers who seek to temporarily suspend payments.
Summary Box: Sallie Mae changes policy on loan fee (AP) AP - THE NEWS: Private student lender Sallie Mae is changing how it handles a fee that struggling borrowers must pay to temporarily suspend payments.
Mortgage rates for the past 52 weeks, at a glance (AP) AP - Mortgage rates for the past 52 weeks, at a glance
Obama plan to lower mortgage payments could help, but how much? (The Christian Science Monitor) The Christian Science Monitor - President Obama fleshed out a new mortgage-relief plan Wednesday, saying the steps he outlines would "help millions of responsible homeowners" and the US economy.
Did Freddie Mac Want You to Fail? (ContributorNetwork) ContributorNetwork - COMMENTARY \| I have been telling my friends lately that I hate banks and insurance companies. It seems I now have a bit more ammunition. ProPublica and NPR News recently uncovered disturbing news. Freddie Mac, a mortgage company controlled by the government, has made investments that will be worth more if homeowners are unable to refinance their mortgages.
Credit Suisse exec charged in NY mortgage probe (AP) AP - A Credit Suisse executive who was once slated to receive nearly $7 million in compensation in 2007 is among three of the company's former employees to be criminally charged.
Exclusive: Mortgage deal would give states enforcement clout (Reuters) Reuters - A proposed settlement to resolve mortgage abuses by top U.S. banks will give states broad authority to punish firms that mistreat borrowers in the future, according to documents seen by Reuters on Wednesday.
President Obama's Mortgage Refinance Plan Just a Bid for Votes (ContributorNetwork) ContributorNetwork - COMMENTARY \| The Associated Press is reporting that President Barack Obama is planning to push for legislation that would allow millions of homeowners with government-backed mortgages to refinance their loans to take advantage of the historically low interest rate.
Ex-Credit Suisse employee surrenders: FBI (Reuters) Reuters - A former Credit Suisse employee surrendered to the FBI on Wednesday on criminal charges, an FBI spokesman said, in a U.S. government probe on writedowns on subprime mortgage derivatives at the height of the financial crisis.
U.S. regulator kicks off foreclosure sales plan (Reuters) Reuters - The regulator for housing finance firms Fannie Mae and Freddie Mac said on Wednesday investors could now sign up to pre-qualify to bid on foreclosed properties held by the government-controlled firms.
Mortgage applications dipped last week: MBA (Reuters) Reuters - Applications for U.S. home mortgages slipped last week, even as interest rates also eased, an industry group said on Wednesday.
States to decide this week on mortgage deal (Reuters) Reuters - State and federal officials are close to a settlement with the largest U.S. banks over mortgage abuses, with states facing an end-of-the-week deadline to decide whether they will sign on, people close to the talks said.