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Today's News
AP Top Financial News At 12:28 p.m. EDT
53 minutes ago
Median CEO pay rises to $9.7 million in 2012 Bernanke signals Fed to maintain stimulus efforts Stocks rise on Fed stimulus hopes, home sales
Stocks surge as Bernanke retains dovish tone
53 minutes ago
Federal Reserve Chairman Ben Bernanke's signal that monetary policy will remain loose gave stocks another lift Wednesday, paving the way for many indexes to advance to new record highs. The Fed is currently making $85 billion in bond purchases every month to encourage lending and spur the U.S. economic recovery. Though a number of economic indicators have improved, the U.S. economy isn't posting historically high growth rates and unemployment is relatively high above 7 percent despite consistent falls in recent months.
Cuomo: Create tax-free zones around SUNY campuses
57 minutes ago
High-tech businesses from other states and abroad that move to college campuses or nearby in New York would operate completely tax-free for 10 years under a proposal released Wednesday by Gov. Andrew Cuomo, including no income tax for entrepreneurs and workers. The tax-free benefits would last five to 10 years, depending on the deal struck with companies, Assembly Speaker Sheldon Silver said. He said he will insist that current New Yorkers benefit from the new jobs and there would be serious "claw back" provisions and penalties for companies that fail to meet promises of jobs and development.
Amazon unit to expand in Fairfax Co., add 500 jobs
1 hour, 3 minutes ago
A subsidiary of Amazon.com Inc. is expanding in Fairfax County and expects to provide 500 new jobs. Virginia Gov. Bob McDonnell announced Wednesday that Amazon Web Services plans to open an office in the Herndon area. Amazon Web Services provides cloud computing services to business and government customers. On Tuesday the company announced it had received authority to operate under a government program designed to streamline cloud computing services.
