New York (CNNMoney) - Chelsea Clinton has joined the board of directors at IAC, the Internet media giant said late Monday.
IAC, headed by media mogul Barry Diller, said in a regulatory filing that former First Daughter Clinton was elected to the post on September 22.FULL STORY
NEW YORK (CNNMoney.com) - Conservative radio host Rush Limbaugh is having a tough time saying adios to New York City. But it's not because he'll miss the Big Apple. Rather, he's been forced to cut the asking price for his Fifth Avenue penthouse to $12.95 million.
Limbaugh originally listed his spacious digs in March, asking $13.95 million. He bought the 10-room condo at 1049 Fifth Ave. in 1994 under the name of R H Trust, according to city property documents.
Luxury broker Corcoran Group is listing the property, but the firm chose not to release photos or confirm the celebrity resident. Limbaugh was not available for comment.
The pad sprawls across nearly 5,000 square feet and two of its terraces overlook Central Park and its famous reservoir.
Fed Chairman Ben Bernanke reiterated on Saturday that the central bank should retain power over banks of all sizes. (Getty Images)
New York (CNNMoney.com) - As Congress considers limiting the Federal Reserve's regulatory authority to just the country's largest bank holding companies, Fed Chairman Ben Bernanke reiterated on Saturday that the central bank should retain power over banks of all sizes.
"Because of the remarkable diversity of the U.S. financial system, a supervisory agency that focused only on the largest banking institutions, without knowledge of community banks, would get a limited and potentially distorted picture of what was happening in our banking system as a whole," Bernanke said in a speech to the Independent Community Bankers of America.
The talk echoed points Bernanke has made in several previous speeches, when he has argued that the supervision of small banks helps the Federal Reserve monitor the pulse of the "continent-spanning, highly varied" economy.
New York (CNNMoney.com) - A total of 43 states reported rising jobless rates in December, reversing signs of improvement seen the month before, according to a government report released Friday.
Overall, jobless rates increased in those states and the District of Columbia last month and fell in four states, according to the Labor Department's monthly report on state unemployment. Three states reported no change.
In November, 36 states reported a monthly decrease in the unemployment rate.
NEW YORK (CNNMoney.com) - President Obama unveiled a program Friday that will provide $2.3 billion in tax credits for the clean energy manufacturing sector, a move aimed at creating 17,000 jobs.
The funding, which comes from the $787 billion American Reinvestment and Recovery Act, has been awarded to 183 projects in 43 states, the White House announced.
"If we harness ingenuity, take the talent of our workers and innovators, and we invest in it, we'll forge a future where life is better in our country over the long run," Obama said.
The projects selected must be commissioned by February 2013, and the government expects about one-third of those will be completed this year. The program provides a 30% tax credit for those projects.
New York (CNNMoney.com) - The number of first-time filers for unemployment insurance fell last week to a nearly 15-month low, according to a government report released Wednesday.
There were 457,000 initial jobless claims filed in the week ended Nov. 28, down 5,000 from a revised 462,000 the previous week, the Labor Department said.
That's the lowest level since the week ended Sept. 6, 2008. The week being reported included the Thanksgiving holiday.
A consensus estimate of economists surveyed by Briefing.com expected 480,000 new claims for the week.
The 4-week moving average of initial claims was 481,250, down 14,250 from the previous week.
NEW YORK (CNNMoney.com) - After sparking an initial rush to showrooms, the Cash for Clunkers program seems to be running out of fuel.
Interest in Cash for Clunkers has fallen 15% since its peak, and car purchase intent could fall to pre-Clunkers levels by next week, an auto research group said Tuesday.
Under the Clunkers program, which launched July 27, vehicles purchased after July 1 are eligible for refund vouchers worth $3,500 to $4,500 on traded-in cars with a fuel economy rating of 18 miles per gallon or less.
The program proved wildly popular, running through its initial $1 billion in its first week and leading lawmakers to approve an additional $2 billion in funding on August 7.
But interest in the program peaked on July 29, and demand has waned, according to the report from Edmunds.com.
NEW YORK (CNNMoney.com) – The Census Bureau on Friday sent Congress its plan to create jobs with the $1 billion it received under the Obama administration's $787 billion stimulus measure.
The agency said its plan is intended to promote participation in the census, which will improve accuracy in the 2010 results.
The census is linked to employment because more than $300 billion in federal funds are distributed every year based on the results of the survey.
The money is used to support local services including schools, law enforcement and transportation.