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  • Federal Reserve to reduce stimulus

    January 29, 2014 7:35 PM

    WASHINGTON- The Federal Reserve will cut monthly bond buying by another $10 to $65 billion because the U.S. economy is getting stronger. The Fed is proceeding despite the prospect of higher interest rates in the U.S. and rattling overseas markets. The Fed contends it will try to keep... more »
  • Stocks edge higher as investors watch the Fed

    May 22, 2013 9:04 AM

    NEW YORK- Stocks are opening slightly higher as investors watch for the latest moves from the Federal Reserve. The Dow Jones industrial average was up 39 points at 15,424 shortly after the opening bell Wednesday, a gain of 0.2 percent. The Standard & Poor's 500 index was up four points... more »
  • Stocks open higher as consumer spending rises

    April 29, 2013 9:02 AM

    NEW YORK- Stocks are edging higher in early trading on Wall Street as investors were encouraged by an increase in consumer spending last month. The Dow Jones industrial average was up 17 points at 14,730 shortly after the opening bell Monday, a gain of 0.1 percent. The Standard & Poor's... more »
  • Dow trading at new record high

    March 5, 2013 10:34 AM

    NEW YORK- With a jump of more than 100 points in early trading, the Dow Jones Industrial Average has moved into territory it's never seen before. The jump to an all-time high for the blue-chip average was powered in part by China's strong economic growth targets, and by a jump... more »
  • Paying the Piper

    January 31, 2013 7:21 PM

    The founder of a brokerage house in Iowa got 50-years in federal prison for a scam that bilked 13,000 investors out of $215 million dollars over 20 years. Russ Wasendorf Sr. headed Peregrine Financial Group and caused what a judge called "staggering losses" to investors, employees and creditors. Judge Linda... more »
  • Downtown grocery to open in May Play Video

    January 3, 2013 5:45 PM

    BATON ROUGE- Investors plan to open a grocery store in downtown Baton Rouge, at the corner of Third Street and Florida Blvd., later this spring. A grocery store is one of the key retail needs identified in a recent Downtown Development District report. The group of investors say the... more »
  • Moody's pressures Congress to deal with deficit

    January 2, 2013 3:42 PM

    WASHINGTON- Moody's Investors Service says Congress must go beyond its deal this week and come up with a plan to shrink the budget deficit if it wants to keep the U.S. government's top credit rating. The credit rating agency says in a statement that it expects lawmakers in the coming... more »
  • Wall Street's " bad boy" sentenced

    May 3, 2012 5:48 PM

    NEW YORK - A former investment manager known as Wall Street's "bad boy" has been sentenced to 12 years in prison. Ross Mandell was sentenced in New York on Thursday for his conviction on charges he defrauded U.S. and European investors of $140 million. He was convicted last year on... more »
  • Stocks tumble after jobs report

    April 9, 2012 6:09 PM

    NEW YORK - Investors have had a three-day weekend to brood over disappointing job growth in March. When they got back to work today and delivered their verdict, it wasn't good. Stocks closed sharply lower, sending the Dow and S&P 500 to only their second four-day losing streak this year.... more »
  • Investors: Stanford verdict won't restore losses

    March 7, 2012 7:17 AM

    HOUSTON - Investors taken in by Texas tycoon R. Allen Stanford are expressing relief after a federal jury convicted the ex-financier on charges he bilked them out of more than $7 billion in a 20-year Ponzi scheme. But they say the verdict won't do much to make up for what... more »
  • Dow soars 423 points on economic news

    August 11, 2011 5:15 PM

    NEW YORK - Stocks are rising at the close of trading after investors latched onto some small signs that the economy might not be headed into another recession. Fewer Americans joined the unemployment line last week, and a technology bellwether said revenue could grow faster this quarter than analysts... more »
  • Whitney shareholder sues to block Hancock merger

    February 10, 2011 1:29 PM

    NEW ORLEANS - A company that holds stock in Whitney Holding Corp. is suing to block the bank's merger with Hancock Holding Co. A class-action lawsuit filed Monday by Realistic Partners accuses Whitney's directors of acting in their own interests at the expense of shareholders and of preventing investors... more »
  • 3,200 lower-income coastal housing units at risk

    October 2, 2010 10:19 AM

    For five years, a special program has been encouraging private investors to build and renovate lower-income housing in hurricane hit areas along the Gulf Coast. But 3,200 planned housing units may not be finished unless Congress renews the program before the end of the year. So far, about 20,000 housing... more »
  • Stocks headed sharply lower

    August 11, 2010 9:33 AM

    Stocks were headed sharply lower in the early going Wednesday. Investors were taking a more cautious approach to the market after the Federal Reserve issued its more downbeat view of the economy Tuesday. The Dow was down 200 points in the first hour of trading. more »
  • La. man gets 30 years for Ponzi scheme

    July 23, 2010 4:58 AM

    A Louisiana businessman who pleaded guilty to defrauding about 180 mostly elderly investors out of nearly $20 million in a Ponzi scheme has been sentenced to 30 years in prison. Matthew Pizzolato agreed to pay more than $15 million in restitution before he was sentenced. Pizzolato pleaded guilty to fraud,... more »
  • Oil prices fall to near $75 a barrel

    July 12, 2010 9:02 AM

    Oil prices fell to near $75 a barrel Monday in Asia as investors looked to the start of second quarter company earnings reports this week for clues about the strength of the U.S. economy. Benchmark crude for August delivery was down 76 cents to $75.33 a barrel at late... more »
  • Oil prices fall to near $72 a barrel

    June 2, 2010 7:16 AM

    Oil prices fell to near $72 a barrel Wednesday in Asia as flagging investor optimism about the global economy drags down stocks and commodities. Benchmark crude for July delivery was down 52 cents at $72.06 a barrel at midday Singapore time in electronic trading on the New York Mercantile... more »
  • Oil prices rise above $72 a barrel

    May 27, 2010 7:37 AM

    Oil prices rose above $72 a barrel Thursday in Asia. Benchmark crude for July delivery was recently up 85 cents to $72.36 a barrel in electronic trading on the New York Mercantile Exchange. The price added $2.76 to settle at $71.51 Wednesday. Oil has dropped from $87.15... more »
  • Real estate investor accused

    May 13, 2010 7:45 AM

    A Metairie man has been charged with mail fraud in connection of an alleged real estate scheme that cost investors at least $3.5 million. Federal prosecutors say Michael Smuck sold a Houston apartment complex in 2007, then misappropriated the money to pay other debts rather than share the proceeds with... more »
  • Oil prices jump to near $86 a barrel

    April 5, 2010 8:59 AM

    Oil prices jumped to near $86 a barrel Monday in Asia, extending gains from last week as investors bet an improving U.S. job market will herald growing crude demand. Global oil trading was closed for the Good Friday holiday. Crude has jumped for $69 a barrel in early... more »
  • Stanford wants new attorneys

    March 30, 2010 12:48 PM

    Texas financier R. Allen Stanford is again asking for new attorneys as he awaits trial on charges he bilked investors out of $7 billion as part of a massive Ponzi scheme. A motion was filed in Houston federal court on Tuesday asking that Stanford's current two attorneys be replaced... more »
  • Oil prices hover above $74 a barrel

    February 16, 2010 9:08 AM

    Oil prices hovered above $74 a barrel Tuesday in Asia as investors looked for signs of improving global crude demand. Trading volume was light in Asia, as many markets were closed in China, South Korea and Singapore for the Lunar New Year holiday. Oil has traded between $69... more »
  • Wall Street looking to end losing trend

    February 8, 2010 7:24 AM

    Investors are hoping this will be the week Wall Street ends its losing trend. Last week was its fourth straight losing week. Friday was mixed, as a Labor Department report showed the jobless rate fell to 9.7 percent in January, but investors also feared the massive debts of... more »
  • Investors hoping for a better February

    February 1, 2010 8:07 AM

    Investors are hoping February will treat them better than January did. Wall Street got off to a disappointing start in 2010 with the Dow down 3.4 percent for the month of January. The Dow fell 0.5 Friday, closing at 10,067.33. The S&P 500 fell 1 percent to 1,073.87,... more »
  • AOL shares dip after company splits from Time Warner

    December 10, 2009 9:53 AM

    Shares of AOL dipped in early trading Thursday as the Internet company split from media giant Time Warner. AOL shares were issued at almost $24, but fell 67 cents in morning trading. Shares of Time Warner climbed more than one dollar to $30.34. AOL wants to boost... more »
  • Businessman pleads not guilty to Ponzi scheme

    December 1, 2009 11:08 AM

    A businessman from Tangipahoa Parish pleaded not guilty to defrauding investors out of nearly $20 million in an alleged Ponzi scheme. Matthew Pizzolato, of Tickfaw, was arraigned Monday. He's being held without bond. Pizzolato was arrested last month on charges that include securities fraud, money laundering and obstruction of justice.... more »
  • Man indicted in $19.5 million Ponzi scheme

    November 20, 2009 1:59 PM

    A businessman who had offices in Baton Rouge, Covington, Hammond and Lake Charles was indicted by a federal grand jury on charges he defrauded investors out of roughly $19.5 million. Investigators say Matthew B. Pizzolato used investor funds to buy such personal luxuries as cars, furniture, jewelry and cruises, as... more »
  • Ponchatoula man accused in $11 million Ponzi scheme

    November 19, 2009 10:43 AM

    A man from Ponchatoula was arrested Thursday accused of bilking at least 200 investors out of $11 million. William Chaucer, Jr. faces 20 counts each of felony theft, operating as an unregistered investment advisor and other charges. The Louisiana Attorney General's Office says Chaucer told people he would... more »
  • Oil prices hover below $79 after three day slide

    October 27, 2009 9:39 AM

    Oil prices lingered below $79 a barrel today in Asia, after three days of losses, as investors eyed a volatile U.S. dollar. Crude jumped to a 12 month high at $82 a barrel last week as the dollar weakened amid concerns that massive global stimulus spending will eventually spark... more »
  • Stanford gets ill during court hearing

    October 14, 2009 4:44 PM

    Allen Stanford, the man accused of bilking investors out of $7 billion, became ill during a court hearing in Houston and wiped blood away from his mouth. His attorney blamed the condition on stress Stanford feels from being held in solitary confinement. Stanford was in court to set a trial... more »

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