The Securities and Exchange Commission is going after the Chinese affiliates of five major accounting firms. The firms are responsible for auditing the books of other Chinese companies whose securities are publicly traded in the U.S. The SEC says the auditing firms have refused to cooperate with its investigation of accounting fraud.
Are the days of "daily deal" coupons about to expire? Shares of email coupon company Groupon are down nearly 80 percent since going public last year. And its smaller rival, Living Social, plans to lay off as many as 400 employees, after reporting a net loss of more than $560 million in the third quarter.
Most people don't realize that they don't pay taxes on the value of health benefits from their job. If employer-provided health insurance was taxed in the same way as wages, the federal government could gain $250 billion a year. But it would mean higher taxes for many people.
Brinkmanship has long been a mainstay in Washington politics, and so it is still. Which is why it might be too early to give up hope that President Obama and congressional Republicans can reach a "fiscal cliff" deal despite how far apart the sides were Monday.
Ford Motor Company is changing the name of it Lincoln brand to the Lincoln Motor Company. Ford is also planning to sell the hybrid version of their flagship sedan, the new MKZ, for the same price as the gasoline version.
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