Mea Culpa News
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The Pentagon will step in for the third time to combat medical-care delays under UnitedHealth Group Inc.’s $20.5 billion contract, as an analyst warned they risked hurting the company’s earnings.
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The Spanish economy will shake off its recession and growth will accelerate through 2015 as European Union officials ease demands for budget cuts, economists said.
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It takes a big person to acknowledge he was wrong, and the International Monetary Fund has now repeatedly admitted to the failure of its euro-area rescue policies.
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Following is a transcript of European Central Bank President Mario Draghi’s comments from his monthly news conference in Frankfurt today.
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Since the 2008 financial crisis, governments have experimented with just about every possible combination of fiscal and monetary policy. Some have pursued expansionary programs by borrowing heavily, cutting taxes and increasing spending. Others have gone the sackcloth-and-ashes route -- or were forced to -- by slashing spending and raising taxes. And some, the U.S. and the euro area included, have lurched from one strategy to another.
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New York Times Co., looking to imitate the business models used by startups such as BuzzFeed Inc., is considering letting advertisers sponsor more stories on its website, two people with knowledge of the situation said.
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At least two congressional committees plan to hold hearings on the U.S. Internal Revenue Service’s admission that it targeted for special attention groups promoting limited government.
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J.C. Penney Co. is apologizing.
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Apple Inc. Chief Executive Officer Tim Cook apologized to Chinese consumers after two weeks of being lambasted by state-run media for arrogance and poor customer service. The company’s offense? It failed to replace the back covers of iPhones after repairing electronics inside.
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Bill Gross, manager of the world’s biggest mutual fund, sought to reassure clients that he hasn’t lost his touch after he misjudged the extent of the economic slowdown, causing his Pimco Total Return Fund to trail rivals this year.
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