News and Finance

Hope Now has helped more than 2 million at-risk borrowers stay in their homes during the past 13 months, according to numbers released by the coalition on Wednesday.
The alliance of mortgage servicers, counselors, and investors assembled to combat foreclosures fixed more than 192,000 problem loans during July, a one-month record that represents a […]

A year after central banks started to pump trillions of dollars into the financial system to end a seizure in credit markets caused by subprime mortgages, cash is about as tight as it's ever been.
The U.S. market for commercial paper, or short-term IOUs, backed by assets such as mortgages has shrunk 40 percent […]

Introgen Therapeutics Inc. is reducing its development staff to focus on regulatory review and commercial activities.
The pharmaceutical company that is working on cancer therapies plans to cut 20 of its 70 employees. The jobs eliminated are mainly associated with Advexin development and regulatory submission programs that have been recently completed.
Some of […]

The four-year legal battle over former NYSE Chairman Richard Grasso’s $187.5 million compensation package ended Tuesday when a New York appeals court dismissed claims against him of excessive pay and the state’s top prosecutor said the case was closed.
"We have reviewed the court’s opinion and determined that an appeal would not be warranted," Attorney […]

Venoco Inc. on Tuesday withdrew its filing with the Securities and Exchange Commission that would have created a master limited partnership.
Denver-based Venoco (NYSE: VQ) filed an IPO in February for Venoco Acquisition Co. LP.
Venoco, which would have owned 100 percent of the general partner, expected to raise $167.5 million from the […]

New filings for unemployment claims fell more than expected in the latest week, according to a government report released Thursday.
Initial filings for state jobless benefits fell by 18,000 to 365,000 in the week ended May 3, the Labor Department said.
The consensus estimate of economists surveyed by Briefing.com was a drop to 375,000.
The […]

Travelers aren’t just feeling the pinch at the gas pump, but also in the air as carriers continue to hike fares to deal with high jet fuel prices.
Delta Air Lines Inc., (DAL, Fortune 500) the nation’s third-largest carrier, said Monday it raised domestic fares in most cases $10 to $40 per roundtrip, in the […]

Assets managed by sovereign wealth funds worldwide grew 18% last year to $3.3 trillion, the Financial Times reported Monday, citing a London think-tank.
The funds benefited from a run-up in commodity prices and an increase in the foreign exchange reserves of some Asian countries, the report said. The research suggests that by 2015, the […]

A U.S. Food and Drug Administration advisory panel may call on Thursday for further restrictions on the use of anemia drugs in cancer patients, leading some investors to expect lower sales for Amgen Inc’s (AMGN.O: Quote, Profile, Research) top-selling Aranesp.
Amgen shares have fallen about 20 percent since early December, largely over the risk […]

Pacific Northwest
Shares in Sound Financial, the newly organized holding company for Seattle’s Sound Community Bank, will start being quoted on the OTC Bulletin Board today, a day after the company completed a $12.97 million initial stock offering.
The nearly 1.3 million shares sold represent a 44 percent ownership stake in Sound Financial. One percent, or 29,480 […]