The Federal Reserve has announced three of China's largest state-owned banks have been given approval to expand their operations in the U.S. Analysts say that ICBC, China investment Corp., and Central Huijin Investment will likely look to purchase regional U.S. banks and establish a footprint in the American market.
A new Rutgers University survey finds just half of those who graduated from college between 2006 and 2011 are working full time. Burdened by student loan debt, and with wages depressed even for those with jobs, many say they no longer believe that education and hard work will necessarily lead to success.
Memories of the massive earthquake and tsunami that hit Japan have created a niche industry of "disaster-protection gear." Many Japanese are now fully stocked up on emergency equipment, food and water.
Republicans want to block some $55 billion worth of automatic cuts to the Pentagon budget next year. Instead, they want to cut funding for social programs such as food stamps, Medicaid and Meals on Wheels. It's a choice that has been framed as guns versus butter, and this time, guns are expected to win.
It's been two years since the "robo-signing" scandal revealed systemic problems among home foreclosures around the country. Regulators and 14 mortgage companies have established a review process to check individual cases for errors, but fewer than 4 percent of eligible homeowners have applied.
The oil industry can't find enough new workers to replace an aging workforce. Recruiters are busy finding a new generation of workers and training programs have sprung up to prepare them. Some young people are signing on for jobs that promise good pay — but there are still a lot of positions to fill.
Audie Cornish talks to Sharon Waxman, editor in chief of TheWrap.com, about Disney's earnings report that was released Tuesday. Waxman says Disney made $702 million on its new film The Avengers, and took a loss of $200 million on John Carter.
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