Deutsche Bank Settles Mortgage Suit

Posted on May 10, 2012
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Deutsche Bank will pay the government $200 million to settle accusations that it misled the Department of Housing and Urban Development about the quality of mortgages that later defaulted.

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New York Archbishop Timothy Dolan joins Twitter

Posted on May 10, 2012
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Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – Archbishop Timothy Dolan joined Twitter on Tuesday and his first tweet was a Tim Tebow joke. The initial tweet from the religious leader, jokester avid sport fan @CardinalDolan read: “Hey everybody. It’s Timothy Cardinal Tebow. I mean Dolan. I’m on Twitter. And I’m live in Town Hall on Sirius XM’s The Catholic Channel 129.” The social media savvy Cardinal said in a subsequent tweet, “Matt Lauer, Joe Torrre , my mom and 20  listeners asking questions-a great Town Hall on Catholic Channel 129. Thanks for joining me on Twitter.” Cardinal Dolan’s latest tweet was a bit more prolific and profound, “Every person or institution will eventually [...] Continue Reading…

City Room: Census Analysis Shows Shifts in New York City’s Makeup

Posted on May 10, 2012
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A new census analysis shows a city becoming ever more diverse.

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On Location: An Octogenarian’s Modernist Dream Comes to Life

Posted on May 9, 2012
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In Los Angeles, an octogenarian finally gets the modern home of her dreams.

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Bed Bath & Beyond buys Cost Plus for $495 million

Posted on May 9, 2012
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Diane Alter – AHN News Reporter
New York City, NY, United States (AHN) – Bed Bath & Beyond announced Wednesday that it has reached a deal to acquire small goods retailer Cost Plus for $495 million, spurred in part by a promising collaboration that put a specialty food department in some of Bed Bath & Beyond myriad stores. Cost Plus shareholders will receive $22 a share, a 22 percent premium to its closing price on Tuesday. Shares of the Oakland, Calif., based company jumped nearly 22 percent after the deal was made public. Cost Plus operates stores under the names World Market and Cost Plus World Market. The acquisition will help Bed Bath & Beyond by generating [...] Continue Reading…

Thomas Gioeli, Reputed Mobster, Is Convicted of Murder Plots

Posted on May 9, 2012
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Thomas Gioeli was found guilty of plotting to kill six people, including a New York police officer, Ralph C. Dols, in 1997.

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Gold falters with markets Tuesday

Posted on May 8, 2012
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Diane Alter – AHN News Reporter
New York City, NY, United States (AHN) – Gold prices tumbled Tuesday along with world markets as Greece’s political and economic woes weighed on investors across all sectors. The board based declines in U.S. and global equities spilled over to the yellow metal, pushing gold prices below $1,600 intra-day. Market participants fear that new elections could be held in June if no coalition Greek government is formed. Worries are growing that the ailing Mediterranean country could be coming closer to a default and may be forced out of the euro zone. Often viewed as and held as a safe haven, gold provided no respite Tuesday as investors sold whatever they were holding to raise [...] Continue Reading…

City Room: Parole Violator Arrested After Chase Through Tunnel

Posted on May 8, 2012
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A man with several outstanding felony warrants was stopped in the Brooklyn-Battery Tunnel and charged with reckless driving, among other charges.

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Abbott Labs agrees to $1.6 billion Depakote settlement

Posted on May 7, 2012
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Diane Alter – AHN News Reporter
New York City, NY, United States (AHN) – Drug giant Abbott Laboratories had plead guilty and agreed to pay $1.6 billion over allegations that it promoted Depakote, an anti-seizure drug, for uses not approved by the Food and Drug Administration. At a new conference Monday at the Justice Department, U.S. Attorney Timothy Heaphy said that the top levels of Abbott Lab carried out a strategy of systemically marketing the drug for purposes other than what federal regulators had intended from 1998 to at least 2006. The case includes a criminal fine and forfeiture of $700 million, and civil settlements with federal and state governments totaling $800 million. Depakote is an anti-seizure [...] Continue Reading…

City Room: Midtown Parks’ Flower Bulbs Are Up for Grabs

Posted on May 7, 2012
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Bryant Park and Greeley Square are redoing their plantings, and are giving away hyacinth, tulip, daffodil and muscari bulbs.

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