Finance Globe

Citigroup surprised Wall Street on Friday by ending their five-quarter losing streak and reporting a better-than-expected loss per share. The New York-based bank posted a net income of $1.6 billion for the first quarter of 2009. The company reported an $.18 per-share loss due to costs relating to preferred share dividends. Analysts had expected a loss of $.32 per share. Revenues of $24.8 billion, driven by strong results in the Institutional Clients Group, were partially offset...

In an effort to demonstrate President Obama's commitment to openness and transparency, the tax returns of the President and Vice President were released to the public on April 15. The President and First Lady filed jointly and reported an adjusted gross income of $2,656,902. The vast majority of their 2008 income was from the sale of the President's books, almost $2.5 million. The Obamas reported donating $172,050 - about 6.5% of their gross income - to...

The Federal Trade Commission announced on Tuesday a multi-agency effort to crack down on foreclosure rescue fraud and loan modification scams. The economic crisis has forced many struggling homeowners to look for a way to make owning their homes more affordable. And most homeowners are aware of a number of packages and programs passed by Washington to help them do just that. But telling the difference between the real deal and a scam can sometimes be...

The Federal Trade Commission reported on Wednesday that it has charged seven related companies with violating federal law by falsely promising to remove negative marks on consumer's credit reports.The complaint was filed in the U.S. District Court in the District of New Jersey. The FTC seeks to make the companies stop violating the law and pay restitution to consumers.The companies claimed that they could have even accurate, up-to-date negative information removed from credit reports, such as...

Vice-President Joe Biden's office announced today the release of nearly $100 million made available by the American Recovery and Reinvestment Act 2009 to support senior nutrition programs. The funding will be released to the Department of Health and Human Services, which in turn, will award the money to 56 states and territories and 246 tribes and Native Hawaiian organizations. States will award the funds to organizations that provide nutrition services in their communities. Community programs have...

American International Group, bailed out four times with up to $170 billion and now almost 80% government-owned, is under fire for paying executive bonuses last week to the very division responsible for the credit default swaps that nearly brought the company down.AIG argues that the bonuses were promised before the taxpayer bailouts to the insurance giant, and that the bonuses are part of a legal, binding contract.President Obama said on Monday, "This is a corporation that...

Facts about the Child and Dependant Care Tax Credit 2009If you paid someone to care for your child, spouse, or dependant so that you or your spouse could work or look for work, you may be able to reduce your tax by claiming the Child and Dependant Care Credit on your federal tax return.Below are the top things to know about taking the child and dependant care credit: You must have paid for care for one...

The Federal Trade Commission on Tuesday alerted consumers that the agency has received complaints about companies who claim to give consumers a free credit report.The credit reports these companies offer aren't truly free - the consumer gets stuck with fees that are hidden in the fine print, or they are enrolled in memberships for unwanted services.We've all seen that often-run commercial with the catchy jingle about how this guitar-toting man's life is a mess because of...

In his weekly address on Saturday, President Obama talked about the condition of the economy and steps the government is taking to turn it all around.Obama reminded us that 651,000 jobs were lost in February, for a total of 4.4 million jobs lost since the start of the recession. He mentioned that the unemployment rate has surpassed 8%, the highest in a quarter century.The President said, "These aren't just statistics, but hardships experienced personally by millions...

Scam artists are quick to exploit the ongoing economic crisis - by tricking taxpayers into believing the recently passed stimulus package has something in it for them. The Federal Trade Commission on Wednesday put out a warning about a number of internet scams claiming that individuals can claim government grants being paid out from the economic stimulus package. This is a lie, the stimulus package does not include money for individual financial gain. Some of the...