IRS Official Resigns, But Investigations Won't End
The acting commissioner for the IRS, Steven Miller, has resigned, but don't look for the outcry over the agency's improper targeting of tea party groups to subside.
Justice Department
UPS Agrees to Pay $40M to End Online Pharmacy Probe
Shipping company UPS agreed Friday to pay $40 million to end a federal criminal probe connected to deliveries it made for illicit online pharmacies.
Obama Set to Announce New Secretary of Labor
President Barack Obama is set to nominate Thomas Perez, an assistant attorney general, to be the next secretary of labor, the White House says.
Midday Market Minute: BP, Gulf Coast Oil Spillers Face Day in Court
Nearly three years after a deepwater well rupture killed 11 men, sank a rig and spewed 4 million barrels of oil into the Gulf of Mexico, BP and the other companies involved are scheduled to face their judge in court. The trial is set to start Monday in New Orleans before a federal judge, but a settlement is possible.
BP to Pay $4.5 Billion for Gulf Oil Spill; 2 Charged with Manslaughter
BP said Thursday that it will pay $4.5 billion in a settlement with the U.S. government over the massive 2010 oil spill and will plead guilty to felony counts related to the deaths of 11 workers and lying to Congress.
BP May Face $21 Billion in Fines Over 2010 Gulf of Mexico Oil Spill
The Justice Department is charging BP with gross negligence for its reckless actions related to the Deepwater Horizon oil spill in the Gulf of Mexico. If the charges stick, BP could face fines up to $21 billion. Can the company survive such a financial and PR nightmare?
Did Capital One Target Deployed Soldiers for Foreclosure?
Legally, banks are forbidden to foreclose on the homes of our nation's deployed servicemembers, and they're supposed to cut them a break on credit card interest, too. Seems Capital One has been breaking those rules -- but it may not be a scandal.
3 New Ways to Get Real Help On Your Underwater Mortgage
Good news: The housing market is looking up. Bad news: Nearly 11 million mortgages are still underwater. More good news: Real help for those homeowners is finally available. More bad news: Getting that help can be baffling. Extra good news: Jean Chatzky's here to help.
NCAA Rules Trap Many College Athletes in Poverty
College football and basketball players are getting played instead of getting paid: Though they bring in the big bucks for their institutions of higher learning, more than 8 out of 10 of those FBS student-athletes are living below the poverty line, according to a new study.
Feds File Suit to Block $39 Billion AT&T, T-Mobile Deal
AT&T vowed Wednesday to fight a Justice Department lawsuit that seeks to block its $39 billion deal to buy T-Mobile USA. The feds are concerned that the acquisition of the No. 4 wireless carrier in the country by No. 2 AT&T would reduce competition and raise consumer prices.
How Washington Helped Birth a Billion Dollar Phone Scam
Almost 30 years ago, the government's breakup of AT&T changed how telecom billed customers, and scammers discovered a loophole that let them slip unauthorized fees onto consumers' monthly phone bills. Since then, "cramming" has grown into a multibillion dollar a year con game.
Nasdaq, ICE Drop $11 Billion Bid for NYSE Euronext
Nasdaq and IntercontinentalExchange are withdrawing their $11 billion bid for the New York Stock Exchange after recognizing that it wouldn't receive regulatory approval. The decision leaves the path open for NYSE Euronext to merge with the German exchange operator Deutsche Boerse.
What If AT&T's T-Mobile Buyout Gets Shot Down?
Regulators have begun to take a long, hard look at whether the AT&T buyout of T-Mobile would create a quasi-monopoly in the American cellular carrier industry. If those antitrust concerns sink the deal, AT&T could be in real trouble, because cellular is its only clear hope for growth.
Blockbuster Should Liquidate Instead of Reorganize
Blockbuster should liquidate instead of reorganize under new ownership because the video-rental store chain lacks the necessary cash to continue operations after a proposed sale is completed, Home Media Magazine reported, citing a division of the U.S. Justice Department.