Warren Buffett has given the country's biggest bank a $5 billion vote of confidence. Bank of America's share price had been sliding. But Buffett announced Thursday that his conglomerate Berkshire Hathaway is investing $5 billion and will receive 50,000 shares of preferred stock, and now the bank's shares are up about 12 percent. Three years ago, Buffet helped another bank in crisis when he put $5 billion into the Wall Street firm Goldman Sachs.
Anna Hazare, a 74-year old anti-corruption crusader in India, is on the 10th day of a hunger strike. Today Prime Minister Manmohan Singh asked him to end his hunger strike saying parliament could discuss anti-corruption legislation.
Foreclosures made up roughly one-third of all home sales this spring. While that's a smaller share of sales from the previous quarter, it's six times the percentage of foreclosures in a healthy housing market. Meanwhile, fixed mortgage rates edged up this week from their lowest levels in decades.
Foreclosure sales, which include homes purchased after they received a notice of default or that were repossessed by lenders, accounted for 31 percent of the market in the April-June quarter, foreclosure listing firm RealtyTrac Inc. said Thursday.
With Moammar Gadhafi and his regime driven from their strongholds in Tripoli, the most pressing question now is whether the rebels will be able to set up a government and establish order in the capital and the rest of Libya.
In their battle so far, the rebels have been boosted by NATO air power. Western nations have also been providing political and diplomatic backing to the rebel leadership, known as the Transitional National Council. And the U.S. and European states say they are prepared to return Libyan assets that were frozen in the final months of Gadhafi's rule.
When Steve Jobs stepped down from his position as CEO of Apple yesterday, he handed the reins immediately to chief operating officer Tim Cook, who has had such a significant hand in day-to-day operations that many expect that Apple won't immediately suffer much in the way of effects on either its ability to turn out beloved products or its business position.
Alfred Francis Russell, a freed slave from Kentucky, became the 10th president of Liberia in 1883. He was a man who worked through very difficult circumstances to briefly lead a country in Africa that was formed as a means of giving some American blacks their first taste of self governance.
For the second time in a week, federal agents searched the home of a Corbin man arrested on methamphetamine, gun and explosives charges but police have been quiet about exactly what they are looking for. Officers with KSP, Two Rivers Drug Task Force, ATF, U.S. Forest Service and others spent hours Tuesday night at the Corbin residence. Neighbors said authorities took saws and other equipment into the home and were tearing up flooring looking for something. Officers at the scene would not reveal what they were searching for, but said a search warrant had been issued for the home.
A fixture in Augusta for more than 50 years, Clopay Plastic Products Company is a large contributor to employment opportunities in the region. On Wednesday, Clopay officials met with Bracken County Fiscal Count in executive session to iron out details of a proposed $12 million expansion project, which includes tax concessions and property acquisition assistance on behalf of the county.