The U.S. stock futures are rising, indicating that the S & P 500 will erase its losses for the week, reports Bloomberg. Bank of America and Morgan Stanley have both rallied at least 1.8 percent, following gains in European lenders’ stock. Read more at bloomberg.com.
Consumer spending slowed in October, as Americans used the biggest gains in income to build savings for the holiday season. Purchases increased .1 percent, after a .7 gain in September, reports Bloomberg. Incomes rose.4 percent, while the amount people saved rose from a four-year low. Read more at Bloomberg.
Data from both sides of the American-Mexico border shows that illegal immigration is in fast retreat, reports the Los Angeles Times. A lack of jobs in the U.S., tighter border security and the presence of Mexican gangs along the border mean fewer people are taking the risk. Mexican census figures show fewer people are setting […]
The Federal Bureau of Investigation is warning business travelers about hackers who target them via open wi-fi connections at hotels, said the Los Angeles Times. The FBI’s Internet Crime Complaint Center recently issued a warning to travelers using these systems to look out for bogus access points and pop-up windows used by hackers to steal […]
A Colorado judge ruled that a Delaware bankruptcy case must be moved to Colorado, instead of being conducted in the state where it was filed, said the Vail Daily. The reason? The 610 people suing the Cordillera Golf Course and its owner are here. Read more at the Vail Daily
Kidney dialysis clinic DaVita will pay $55 million to settle a lawsuit filed by a patient in 2002, said Fox Business News. The Denver-based company said the agreement, which also includes the payment of attorneys fees, contains no findings of wrongdoing or admission of liability by the company. Read more at Fox Business News.
Oil rose on news at jobless claims dropped, but it marked the end of the longest drop in oil prices since 2009, said Bloomberg. The Organization of Petroleum Exporting Countries said that global oil supplies are outpacing demand levels, keeping its forecast for world consumption this year unchanged. Read more at Bloomberg.
Google announced this week it was teaming up with Intel to create the software giant’s next generation of mobile microchips, reports the L.A. Times. The two companies announced at a trade show this week, they would be teaming up to optimize Google’s Android phones with Intel’s Atom processors. Read more at The Los Angeles Times.
Colorado’s regulators have closed Earth Medicine a medical marijuana company that is being investigated by the federal government for illegally operating a black-market marijuana growing facility. Earth Medicine had not applied for a state license, and the federal government raided it last month. The state says the dispensary was in “non-compliance,” according to the Denver […]
Colorado homeowners will receive a total of $204.6 million as part of a national $26 billion settlement between states, the federal government and the nation’s five largest banks, reports the Denver Post. The deal includes reductions in principal loans and refinancing opportunities for struggling homeowners, as well as cash payments of roughly $2,000 to owners […]
The Obama administration has ordered tariffs of 31 percent and higher on solar panels imported from China, according to the Los Angeles Times. The move was made by the Commerce Department after a study that found the Chinese were selling products below market value. Trade officials will have to approve the measure this fall. More […]