US House defuses looming debt crisis

The U.S. House of Representatives has passed a bill to permit the government to borrow enough money to avoid its first-ever default for at least four months, defusing a crisis looming next month…

The pace of rent increases in the Bay Area is slowing down

灣區房租熱漲的勢頭正在緩慢消退,其中東灣、中半島和舊金山的平均租金,在去年第四季基本持平,南灣則輕微下跌…

US home sales reaches 5-year high

U.S. sales of previously occupied homes rose in 2012 to their highest level in five years, spurred higher by record-low mortgage rates and steady hiring…

Apple may build less expensive iPhone

The Wall Street Journal speculates that Apple could lower the iPhone’s price by equipping the device with an exterior that costs less…

Morgan Stanley to cut 1,600 jobs

The investment bank Morgan Stanley plans to cut about 1,600 jobs, nearly 3 percent of its total workforce…

Lenovo to release giant 27-inch ‘coffee table PC’

As a tablet, it’s a monstrosity. The screen is the size of eight iPads stitched together, and it weighs 15 pounds (6.8 kilograms). It’s almost as homebound as a flat-panel TV…

10 banks agree to pay $8.5B for foreclosure abuse

Ten major banks and mortgage companies agreed Monday to pay $8.5 billion to settle federal complaints that they wrongfully foreclosed on homeowners…

US economy adds 155K jobs

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U.S. employers added 155,000 jobs in December, a steady gain that shows hiring held up during tense fiscal negotiations in Washington…

Congress sends Obama bill to avoid ‘fiscal cliff’

Legislation to block the “fiscal cliff” is headed to the White House for President Barack Obama’s signature…

Will retailers rebound after weak holiday season?

As signs emerge that holiday retail sales this year grew at the weakest pace since 2008, investors are dumping retail stocks…