Finance News

Official: Banks Must Improve Culture or Be Broken Up

William C. Dudley, president and CEO of the Federal Reserve Bank of New York said that if bad behavior persists, "the inevitable conclusion will be reached that your firms are too big and complex to manage effectively."

FANNIE MAE

Fannie-Freddie Clarify Buyback Rules to Help Ease Credit

Fannie Mae and Freddie Mac will spell out when they will force lenders to buy back loans that were issued based on false or inaccurate information.

Charter Schools Borrow at Record Pace Led by Texas

The institutions, privately run with public funding, have sold $1.6 billion of securities in 2014.

Skyrise rendering

All Private Development? Not So Fast! Miami's Skyrise Wants Public County Funds

By Eleazar David Melendez |

A towering downtown Miami tourist attraction wants to get off the ground with $9 million in funding from Miami-Dade County--after previously promising a strictly private development.

Judge Nixes $83M Settlement With Developers of Failed Fontainebleau Las Vegas

By John Pacenti |

A federal bankruptcy judge in Miami rejected the proposal, partly because it would have protected Aventura's Soffer family from other recovery efforts by contractors on the unfinished project.

Protest for the legalization of medical marijuana

In Debate Over Medical Marijuana, Some See Dollars

Thousands have attended workshops about how to start medical marijuana businesses.

Florida Gov. Rick Scott

Economic Malaise Clouds Florida Governor's Race

By many measures, Republican Rick Scott should have a strong case for a second term as governor. But along a stretch of central Florida, a crucial swing-voting area, middle-class voters are seeing a tepid economic turnaround.

Blackstone Adds Luxury-Jet Finance in $280B Market

Blackstone Group is starting a new fund to provide loans for a luxury-jet market projected to reach $280 billion over the next decade.

Will Apple Pay Be the Next iRevolution?

The tech giant is making a bigger strategic bet with Monday's launch of Apple Pay—the mobile pay service aimed at turning your iPhone into your wallet.

Office Depot to Cut 1,000 Jobs in Europe

Boca Raton-based Office Depot will eliminate about 1,100 European jobs in a move expected to save $90 million a year by the end of 2016.

Tablet with chart displayed

Mortgages Slump Relative to Treasuries on Refi Risk

The U.S. mortgage-bond market is lagging behind the rally in government debt on concern that more homeowners will refinance at lower interest rates, damaging returns.

Facebook, Apple Pay for Egg Freezing, Sperm Donors

By Barbara Ortutay Associated Press |

Silicon Valley's biggest companies have long offered cushy perks to attract top talent and keep workers happy. But beyond day-to-day luxuries, Facebook and Apple will now give up to $20,000 in benefits to help employees pay for infertility treatments, sperm donors and even to freeze their eggs.

Refinance Boomlet Gives Banks Relief From Plunge

As the largest U.S. banks rebuild their mortgage lending, with gains last quarter, they face the challenge of finding qualified borrowers and the possibility of rising interest rates.

Carnival to Help Build China's First Cruise Ship

Miami-based Carnival Corp. agreed to help build China's first cruise ship as travel demand increases.