Health insurance plans now have to cover the full cost of breast pumps for nursing mothers. This is the result of a provision in the Affordable Care Act (aka Obamacare), and the new rule took effect for many people at the start of this year.
It's led to a boom in the sale of the pumps, which can cost hundreds of dollars.
Originally published on Mon January 14, 2013 5:59 pm
Credit Fabrice Coffrini / AFP/Getty Images
We don't hear much about bank liquidity, partly because it sounds so dull. It's much more fun to talk about prop trading (fear the London Whale!) or structured finance (synthetic CDOs are crazy!).
But if you're trying to figure out how safe banks are — and how willing they'll be to make loans to ordinary people — liquidity is at least as important as other, more-dramatic-sounding corners of finance.
So the new liquidity rules global banking regulators released yesterday are a big deal for the real economy.
Eric Schmidt, executive chairman of Google, has landed in North Korea. His trip there is a bit of a mystery.
Schmidt, the former CEO of Google, has been a vocal proponent of providing people around the world with Internet access and technology. North Korea doesn't even let its citizens access the open Internet, and its population is overwhelmingly poor — so it's not exactly a coveted audience for advertisers.
Originally published on Mon January 7, 2013 5:52 pm
By Allison Aubrey
Credit Shuji Kajiyama / AP
It's become an annual tradition: bidding up an outrageous price for a Pacific bluefin tuna during the first auction of the new year at Toyko's Tsukiji fish market.
And on Saturday, a bluefin tuna big enough to serve up about 10,000 pieces of sushi fetched a mind-boggling price: $1.76 million. That's about three times as much as last year's tuna and equates to about $3,600 per pound for the 489-pound fish.
Ten of the nation's major mortgage servicing companies, including household names such as Bank of America and Citibank, have agreed to pay $8.5 billion to resolve claims that they abused some homeowners when they foreclosed on mortgages during the recent housing crisis, the Federal Reserve and the Comptroller of the Currency announced late Monday morning.
Bank of America announced this morning that it will pay the Federal National Mortgage Association (Fannie Mae) $3.6 billion in cash and will buy back $6.75 billion worth of mortgages to resolve claims related to mortgage-backed securities sold to Fannie Mae by the bank and Countrywide Financial Corp. (which BofA acquired in 2008.