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Posted inNation & World

Iran banks blocked from world network

BRUSSELS – Dozens of Iranian banks were blocked from doing business with much of the world as the West tightens the financial screws on a country it wants to prevent from developing nuclear weapons. The Belgium-based company that facilitates most international bank transfers Thursday took the unprecedented step of blocking 30 Iranian banks from using […]

Posted inBusiness

Briefcase

S&P 500 index passes 1,400 for first time since 2008 NEW YORK – U.S. stocks rose Thursday, lifting the S&P 500 index past 1,400 for the first time since June 2008, after another round of strong reports on jobless claims and manufacturing. The S&P 500 advanced 8.32 points, or 0.6 percent, to 1,402.60, crossing and […]

Posted inBusiness

Upswing in rents indicates housing may be recovering

LOS ANGELES – Home prices are tumbling to fresh lows, but new data show the rental market is on an upswing, an early indicator that housing may be headed into recovery. Rents are increasing because the foreclosure crisis has created a steady supply of renters in recent years, analysts said. Adding to the housing squeeze […]