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Zimbabwe 'Cattle Bank' takes deposits that moo
William Mukurazita's deposit at the bank has four legs and moos. Zimbabwe's first "Cattle Bank" has just opened its books in a unique kind of banking where owners bring in their animals as collateral against cash loans. For many rural poor in this southern African country once wracked by world-record ...
Maine gov vetoes Medicaid expansion for 2nd time
Maine Gov. Paul LePage on Monday vetoed a bill to accept federal dollars to expand health care coverage to 70,000 more Mainers, saying he fears the state will ultimately bear the financial burden for the new enrollees. The Democratic-controlled Legislature last week approved a retooled proposal to expand Medicaid coverage ...
Investors guess Fed's actions, push stocks higher
Investors on Wall Street are playing a guessing game with the Federal Reserve. On Monday, they guessed that the central bank will continue trying to prop up the economy and sent stocks higher. The major stock indexes all rose about 1 percent in early trading and stayed there for most ...
World looks to Bernanke to clarify stimulus plans
Is the era of ultra-low interest rates nearing an end? When he takes questions this week after a Federal Reserve meeting, Chairman Ben Bernanke will confront investors' fears that rates are headed higher. Financial markets have been gyrating in the 3½ weeks since Bernanke told Congress the Fed might scale ...
Starboard says Smithfield sale undervalues company
One of Smithfield Foods Inc.'s largest shareholders says a $4.72 billion takeover bid from China's largest meat producer falls short of what the company would be worth if sold off piece by piece. In a letter to the Smithfield, Va.-based pork producer's board of directors on Monday, the New York-based ...
Oil rises past $98 on Syria, ahead of Fed meeting
The price of oil climbed to above $98 a barrel Monday amid concerns over an escalation in the civil war in Syria and as traders awaited a critical meeting of the U.S. Federal Reserve later in the week. By early afternoon in Europe, benchmark oil for July delivery was up ...
Iran's president-elect says economy will take time
Iran's newly elected reformist-backed president said Sunday that the country's dire economic problems cannot be solved "overnight," as he took his first steps in consulting with members of the clerically dominated establishment on his new policies. Hasan Rowhani's surprise victory in Friday's elections puts him in charge of an executive ...
G8 faces uncertain recoveries, turbulent markets
Europe is mired in debt and recession. Financial markets have hit violent ups and downs on fears that U.S. stimulus efforts may soon be scaled back. Japan is finally looking up after years of stagnation — but it remains an open question if the recovery will stick. That's the global ...
Iran reformists dance in streets for new president
Wild celebrations broke out on Tehran streets that were battlefields four years ago as reformist-backed Hasan Rowhani capped a stunning surge to claim Iran's presidency on Saturday, throwing open the political order after relentless crackdowns by hard-liners to consolidate and safeguard their grip on power. "Long live Rowhani," tens of ...
Couple find calling in bringing smiles to others
Judy Kopff needs three hours to become a clown. There is the Marine Corps-inspired uniform that she assembles — nothing like the serious pantsuits she wore during her years as a chief of staff in the Office of the Secretary of Defense. She needs time to frame her eyes with ...
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