Content Tagged As finance

1 year 9 months ago

Campaign finance measure attracts little attention

DENVER (AP) - Imagine a political change favored by an astounding majority of voters but mostly ignored by politicians. That's what campaign finance activists in Colorado are battling as they try to promote a constitutional amendment approved by Colorado voters last year. The campaign finance amendment passed in every Colorado...

2 years 7 months ago

Canada to rid itself of the penny

TORONTO (AP) - Canada has announced it is scrapping the penny. The humble one-cent piece is set to disappear from Canadian pockets, a victim of inflation. Canadian Finance Minister Jim Flaherty announced in the federal budget on Thursday that the Royal Canadian Mint will strike the last of the little...

3 years 5 months ago

Dow takes tumble

NEW YORK (AP) - Fears that the economy is stalling sent the Dow Jones industrial average down 280 points, erasing more than a quarter of the stock market's gains for the year. A pair of reports raised new doubts about the economy's strength Wednesday. A key manufacturing index fell...

3 years 7 months ago

D11 looks to cut $12.5 million

Colorado Springs School District 11 is bracing for an estimated $12.5 million in budget cuts for the upcoming school year. That dollar amount is based on combination of revenue shortfall from the state ($11.2 million) and increases in operating costs ($1.3 million). Board members were given a packet containing...

4 years 3 months ago

Fed Chief says future uncertain, stocks drop

WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke tells Congress the economic outlook remains "unusually uncertain," and the Fed is ready to take new steps to keep the recovery alive if the economy worsens. The Fed chief, in prepared testimony to the Senate Banking Committee Wednesday, says record low...

4 years 3 months ago

Bankruptcy filings up 14% in 2010

New numbers from the American Bankruptcy Institute show a 14% rise in bankruptcy filings between January and June. That's more than 770,000 new cases nationwide, and it's happening in Southern Colorado. "We were up by the end of May by 66 cases, which is a lot." explains Colorado Springs bankruptcy...

4 years 5 months ago

Pueblo charter schools facing probation

Wednesday afternoon, the Pueblo City Schools board voted to put Cesar Chavez Academy and Dolores Huerta High on probation. The reason goes back to a state audit which criticized the school's former leaders, Lawrence and Annette Hernandez for wasting taxpayer dollars. Once the schools are served with the probation notice,...

4 years 8 months ago

Consumer confidence falls sharply

A monthly poll shows consumers' confidence took a surprisingly sharp fall in February amid rising job worries. The decline ends three straight months of improvement and raises concerns about the economic recovery. The Conference Board says its Consumer Confidence Index fell almost 11 points to 46 in February, down from...

4 years 8 months ago

Regulators expand oversight of smart-grid project

State regulators are getting more involved in Xcel Energy's smart-grid project in Boulder as the utility has started charging customers statewide to cover some of the costs. The Colorado Public Utilities Commission has decided that Xcel Energy needs to seek more approval of the project, which is modernizing the electric...

4 years 8 months ago

Gates pitches $768.2B defense budget to Congress

Defense Secretary Robert Gates is urging Congress to approve the Obama administration's $768.2 billion Pentagon budget request, saying America needs "a broad portfolio of military capabilities." Gates joined Adm. Mike Mullen, chairman of the Joint Chiefs of Staff, in outlining fiscal 2011 budget proposals to the Senate Armed Services Committee....

4 years 8 months ago

Senate backs pension overhaul

Colorado is moving to become the first state to cut retiree benefits to prevent its pension system from going broke. The state Senate voted 25-10 on Monday to back a proposal to overhaul the Public Employees Retirement Association. It now moves to the House. Backers say the bill is needed...

4 years 9 months ago

Colorado governor to announce more budget cuts

Colorado Gov. Bill Ritter is going to reveal details of his $50 million plan to re-balance the current fiscal year state budget. Todd Saliman, the governor's budget director, says the cuts are needed because of higher-than-expected Medicaid caseload growth and previous cuts that Ritter backed away from. Those include $4.5...

4 years 9 months ago

Obama lashes out at campaign finance ruling

President Barack Obama on Saturday sharply criticized a Supreme Court decision easing limits on campaign spending by corporations and labor unions, saying he couldn't "think of anything more devastating to the public interest." He also suggested the ruling could jeopardize his domestic agenda. In its 5-4 decision this week,...

5 years 2 weeks ago

Senate committee approves health overhaul bill

A pivotal Senate committee has approved a sweeping remake of the country's health care system, delivering a long-sought boost to President Barack Obama's goal of expanding coverage. The 14-9 vote in the Senate Finance Committee sets up a historic debate on the Senate floor and moves health care overhaul closer...

5 years 1 month ago

EBay Skype to sell stake in Skype

EBay Inc. says it has reached a deal to sell most of its stake in Skype in a deal it says values the online telecommunications service at $2.75 billion. San Jose, Calif.-based eBay says it will get $1.9 billion icash and a $125 million note from the buyer. An investment...

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