The head of the Securities and Exchange Commission is objecting to a plan being weighed by the Obama administration to create a new financial watchdog for consumers that would assume oversight of mutual funds.
McClatchy Co. Thursday announced a $1.15 billion private debt exchange offer and amended a credit agreement as the nation's third-largest newspaper publisher tries to reduce approximately $2 billion in debt and improve its balance sheet.
The Senate passed legislation Tuesday to protect credit card holders from sudden interest rate spikes, but consumer groups and card issuers warned that people are still likely to face obstacles in getting and maintaining credit.
U.S. stock investors on Monday fixated on housing to gauge economic growth going forward, with earnings from a home-improvement chain helping boost sentiment along with improving spirits among homebuilders.
President Barack Obama's new fuel and emission standards for cars and trucks will save billions of barrels of oil but are expected to cost consumers an extra $1,300 per vehicle by the time the plan is complete in 2016.