Finance

Same ol’ scams took on a new identity in 2011

Same scam, different name. As people work hard for their money, someone works equally hard to steal it.

(LUCA BRUNO/The Associated Press) A man checks stock indexes on a screen of a bank in Milan, Italy, Monday, Nov. 28, 2011. For the second time in as many market days, Italy paid sharply higher borrowing rates in an auction Monday, as investors continued to pressure the eurozone’s third largest economy to come up with reforms urgently.

Eurozone ministers meet to build euro rescue plan

BRUSSELS — The 17 finance ministers of the countries that use the euro converged on EU headquarters Tuesday in a desperate bid to save their currency — and to protect Europe, the United States, Asia and the rest of the global economy from a debt-induced financial tsunami.

West Point audit uncovers one over-expenditure

WEST POINT -- On Tuesday, the city council received the audit report for fiscal year 2011.

The auditors, Ulrich & Associates, said the city's financial statements are a fair and accurate presentation of financial activities and status.

However, one error in budgetary compliance was found. According to Utah code, municipalities shall not incur expenditures in excess of the total appropriation for any department or fund.

(RICHARD DREW/The Associated Press) In this Nov. 10, 2011 photo, trader Kevin Cassidy works on the floor of the New York Stock Exchange. Rising borrowing rates for many of the eurozone’s more indebted countries sent investors scurrying out of stock markets Tuesday, Nov. 15, 2011, on a day that Italy’s premier-designate was looking to get the support of the country’s political parties for a technocratic government.

Stock open mixed; Wal-Mart slumps as earnings fall

NEW YORK — Stocks are opening mixed as investors weigh worries about Europe against an increase in U.S. retail spending.

(PAUL WHITE/The Associated Press) Businessmen walk past a betting shop in the business district of Madrid, Thursday Oct. 27, 2011. European stock markets shot higher Thursday as investors waded into riskier assets, emboldened by EU leaders’ pre-dawn agreement to slash Greece’s massive debts. In addition, the 440 billion euro European Financial Stability Facility will be used to insure part of the losses on the debt of wobbly countries like Italy and Spain, rendering its firepower equivalent to around one trillion euro ($1.4 trillion).

US stock futures follow European markets lower

NEW YORK — U.S. stock futures are following European markets lower Tuesday. But the losses were trimmed after a stronger than expected U.S. retail sales report.

(ANDREW MEDICHINI/The Associated Press) In this Tuesday, Oct. 26, 2004 file photo, Italian Premier Silvio Berlusconi waves from a balcony of Rome’s Campidoglio City Hall overlooking the Roman Forum, where the EU Constitution was signed by the representatives of 25 countries on Oct. 29, 2004. Premier Silvio Berlusconi resigned in Rome, Saturday, Nov. 12, 2011, after the Parliament’s lower chamber passed European-demanded reforms, ending a 17-year political era and setting in motion a transition aimed at bringing Italy back from the brink of economic crisis. The 75-year-old billionaire media mogul, who came to power for the first time in 1994 using a soccer chant “Go Italy” as the name of his political party, became Italy’s longest-serving post-war premier.

End of an era: Italy’s Berlusconi resigns

ROME — Italian Premier Silvio Berlusconi resigned Saturday after parliament’s lower chamber passed European-demanded reforms, ending a 17-year political era and setting in motion a transition aimed at bringing the country back from the brink of economic crisis.

(RICHARD DREW/The Associated Press) Federal Reserve Chairman Ben Bernanke’s news conference is seen on a television screen on the floor of the New York Stock Exchange Wednesday, Nov. 2, 2011. Bernanke on Wednesday acknowledged that the pace of economic growth is likely to be “frustratingly slow,” after the Fed downgraded its forecast for the next two years.

Bernanke shows Fed’s independence with Texas trip

WASHINGTON — A town hall meeting with Ben Bernanke and a group of military families discussing family finances wouldn’t normally draw much notice.

(ANDREW MEDICHINI/The Associated Press) A man impersonating the statue of Liberty performs for money in front of the BNL bank in Rome, Tuesday, Nov. 1, 2011. Europe’s days-old plan to solve its crippling debt crisis has been thrown into turmoil by the Greek Prime Minister’s shock decision to call a referendum on the country’s latest rescue package. Stock markets plunged around the world Tuesday, particularly in Europe, with the Athens exchange sliding 5.5 percent, on worries the Greek government could lose the referendum vote.

US stock futures edge higher ahead of Italian vote

NEW YORK — U.S. stock futures edged higher ahead Tuesday of a key confidence vote in Italy, the next step in Europe’s unfolding debt crisis.

Riverdale receives clean audit report

RIVERDALE -- Despite declining revenues, Riverdale's finances are in order, according to an audit report by certified public accountants Crane, Christensen & Ambrose.

"It is a clean report, an unqualified opinion, or the cleanest we can offer," Jeff Ambrose said. "We did not find any problems with communications or difficulties performing the audit."

The audit recommended the city forward fines due to the state in a more timely fashion each month and publish advertisements for bids on road projects for a longer time period.

Obama traveling to Europe for economic summit

WASHINGTON — President Barack Obama heads to France on Wednesday evening for a summit of world leaders, but before he does he’ll make another push for passage of a piece of his jobs bill.

(DENNIS COOK/The Associated Press) Federal Reserve Board Chairman Ben Bernanke delivers the board’s Monetary Policy Report to the Senate Banking Committee in Washington in this July 19, 2006 file photo. The Federal Reserve, after employing a dwindling set of policy options at its last two meetings, may hit the pause button in hopes that the faint signs of the economy’s rebound will grow stronger. The Fed’s decision will be announced around mid-day Wednesday Nov. 2, 2011 following two days of closed-door discussions.

Federal Reserve wraps up policy meeting

WASHINGTON — The Federal Reserve, after employing a dwindling set of policy options at its last two meetings, may hit the pause button in hopes that the faint signs of the economy’s rebound will grow stronger.

(THANASSIS STAVRAKIS/The Associated Press) Protesters, dressed as prisoners gather during an event to protest against austerity measures outside the Greek parliament in Athens, Tuesday, Nov. 1, 2011. Lawmakers in Greece’s ruling Socialist party revolted Tuesday over their prime minister’s surprise decision to hold a referendum on a European debt deal, threatening the very survival of his embattled government.

Greece’s Papandreou heading to EU showdown

ATHENS, Greece — Greek Prime Minister George Papandreou will try to win over irate European leaders later Wednesday, hours after persuading his cabinet to back a hugely-controversial referendum on the debt-crippled country’s latest rescue package.

(ELAINE THOMPSON/The Associated Press) In this Oct. 12, 2011 file photo, a new Boeing 747-8 freighter plane takes to the air in Everett, Wash., on its first flight following delivery to its first customer, Cargolux. Boeing earned $1.1 billion for the quarter ended Sept. 30, 2011, up 31 percent from the same period last year.

Stronger earnings, business spending lift stocks

NEW YORK — Stocks are rising in early trading after Boeing, Corning and other companies reported stronger earnings.

Study: Davis, Weber coping with the 'new norm' of economy

LAYTON -- With years of revenue losses in the U.S. economy, small and large counties across the country appear to be settling into a "new normal" of revenue, staffing and service delivery, according to a recent national survey.

"Coping with the New Normal: An Economic Status Survey of Counties" is the seventh survey in a series of biannual surveys conducted by the National Association of Counties to capture information about counties struggling with the current fiscal situation.

(AL BEHRMAN/The Associated Press) Carl Lindner Jr., chairman of American Financial Group Inc., shown acknowledging the crowd at the Western & Southern Open tennis tournament, Saturday, Aug. 20, 2011 in Mason, Ohio. Lindner has died at the age of 92.

Cincinnati financier Carl Lindner Jr. dies

Cincinnati financier Carl Lindner Jr., who used his experience running the family dairy store to build a business empire whose reach included baseball, banks and bananas, has died. He was 92.

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