The US government ran a budget surplus of $71 billion in June, putting it on track toward the narrowest budget gap since 2008. Nine months into this budget year, the deficit runs at $366 billion, down 28 percent from this time in 2013.
American Apparel says it reached a deal for $25 million investment from Standard General to help American Apparel's finances. The money will also help pay American Apparel's loan from investment firm Lion Capital.
Germany defeated Brazil 7-1 in the World Cup semi-final on Tuesday, but Germany is also winning in the markets. Germany's equity, currency, and government bond markets have also been surpassing Brazil.
American Apparel received noticed from investment firm Lion Capital to pay back a $9.9 million loan. American Apparel is disputing Lion Capital's claim that American Apparel defaulted since ousting founder and CEO Dov Charney in June.
A Kickstarter campaign for a $10 batch of potato salad has raised nearly $60,000 since its launch by an Ohio software company owner last week. The proceeds from the Kickstarter campaign could go to fancier ingredients, potato salad baseball caps, or a giant potato salad party.
When drivers complained that it was too hard to turn their keys, GM made the switches looser – too loose, allowing them to slip from 'run' back to 'accessory' and cutting off engine control, a GM switch engineer testified in 2013
Hurricane Arthur won't deter Americans from celebrating Independence Day. In fact, the average $6.2 billion Americans spend during Independence Day weekend could go up if people move inside to celebrate.
Federal Reserve Chair Janet Yellen said while there are 'pockets' of increased risk-taking, there isn't a need for the Fed to start raising interest rates. Yellen disputed criticism that the Fed had contributed to the 2008 financial crisis by keeping rates too low in the 2000s.
FTC T-Mobile: In its complaint filed in a federal court in Seattle, the Federal Trade Commission claimed that T-Mobile billed consumers for subscriptions to premium text services such as $10-per-month horoscopes that were never authorized by the account holder.
BNP Paribas, France’s largest bank, pleaded guilty Monday admitted to violating US trade sanctions by processing billions of dollars in illegal transactions on behalf of clients in Sudan, Cuba and Iran.
Jerry Brown on Saturday signed into law a bill that clears away possible state-level obstacles to alternative currencies such as bitcoin. The legislation repeals what backers said was an outdated California law prohibiting commerce using anything but US currency.