BofA hit with $1.3 billion mortgage penalty

NEW YORK (CNNMoney) Bank of America (BAC) has been ordered to pay a nearly $1.3 billion penalty for mortgage fraud committed by Countrywide. The fraud happened years before BofA bought the struggling lender amid the financial crisis, saving it from...

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Kim Kardashian's game makes $700,000 a day

Hitting the hottest clubs with the virtual Kim Kardashian will make you a Hollywood A-lister in no time. NEW YORK (CNNMoney) "Kim Kardashian: Hollywood" from Glu Mobil lets you create an avatar that can work to achieve virtual A-list status....

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Grieving parents drowning in $200,000 student loan debt receive relief

Lisa Mason (left) passed away 5 years ago, and her parents got hit with her six-figure student loan debt. NEW YORK (CNNMoney) After a CNNMoney story about the family's situation ran Tuesday, hundreds of readers reached out to offer words of encouragement...

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ESPN suspends Stephen A. Smith after domestic abuse remarks

NEW YORK (CNNMoney) The move came one day after Smith appeared on his ESPN2 talk show "First Take" and profusely apologized. Smith's original remarks were shown on "First Take" last Friday. He was discussing the assault charge against Baltimore...

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Amgen joins job-cut parade

NEW YORK (CNNMoney) Amgen (AMGN) became the latest company to announce major layoffs, despite signs that the U.S. jobs picture is improving. In its earnings presentation Tuesday, the biotechnology firm revealed it plans to eliminate 2,400 to...

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McDonald's may be liable for worker lawsuits

A government ruling could make McDonald's liable for labor lawsuits. NEW YORK (CNNMoney) The National Labor Relations Board's top lawyer on Tuesday determined that McDonald's (MCD) is a "joint employer," along with thousands of independent franchise...

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Enter through the 'Poor Door': Income 'segregation' in N.Y.

This building on New York's Upper West Side will have a separate entrance for low-income residents. NEW YORK (CNNMoney) The 33-story complex will have 219 expensive condos for sale and 55 to rent cheap to low-income tenants. This building's...

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Grieving parents hit with $200,000 in student loans

Steve Mason and his wife Darnelle not only took in their daughter's three children when she passed away, they also inherited her $100,000 student loan bill. NEW YORK (CNNMoney) He and his wife Darnelle immediately took in Lisa's three children...

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Herbalife stock tumbles on earnings miss

NEW YORK (CNNMoney) The controversial maker of diet shakes and supplements said it earned $1.55 per share in the second quarter, short of analysts' expectations of $1.57 per share. Herbalife also lowered its earnings targets for the rest of the year....

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BuzzFeed fires viral politics editor for plagiarizing

NEW YORK (CNNMoney) BuzzFeed editor in chief Ben Smith said he and his colleagues had identified "41 instances of sentences or phrases copied, word for word, from other sites, many of them inappropriate sources in the first place," during a review...

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There's no place like the economy

NEW YORK (CNNMoney) The curtain is about to be pulled back to reveal some key economic data. Here's what you need to know. It's the economy, stupid: Investors will have to wait until Friday for the main event of the week: the all-important July...

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Scandal-ridden food processor issues recall

NEW YORK (CNNMoney) Husi did not specify how much food it will recall but promised an internal investigation and new management of the Shanghai plant. The Saturday announcement also pledged cooperation with authorities, who ordered the facility closed...

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Math nerds are taking over Wall Street

Quant trader Elie Galam at the Panorama Partners' New York City office. He is not a Wolf of Wall Street. NEW YORK (CNNMoney) But guess what? They are rapidly being replaced by "quants" -- soft-spoken super nerds armed with high-tech software...

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Would-be giant in online house hunting has brokers scared

NEW YORK (CNNMoney) The rumored deal -- the companies won't confirm it -- sent the companies' stocks soaring Friday as the chatter gathered steam. The companies don't charge for publishing these listings of homes for sale, but they do charge...

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BuzzFeed fires viral politics editor for plagiarizing

NEW YORK (CNNMoney) BuzzFeed editor in chief Ben Smith said he and his colleagues had identified "41 instances of sentences or phrases copied, word for word, from other sites, many of them inappropriate sources in the first place," during a review...

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Would-be giant in online house hunting has brokers scared

NEW YORK (CNNMoney) The rumored deal -- the companies won't confirm it -- sent the companies' stocks soaring Friday as the chatter gathered steam. The companies don't charge for publishing these listings of homes for sale, but they do charge...

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Mary Poppins won't work for minimum wage

NEW YORK (CNNMoney) But in a parody from Funny or Die, the Disney character (played by Kristin Bell) is quitting her job because that's all the Banks family will pay her. She struggles to make ends meet while making $7.25, the federal minimum...

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Lyft gets the green light in New York City

Rideshare app Lyft, known for the pink mustaches on car grills, will launch in New York on Friday NEW YORK (CNNMoney) After two weeks of sparring with New York City taxi regulators, rideshare app Lyft can start serving the five boroughs -- provided...

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Amazon plunges 10% on big loss

Amazon's non-shipping efforts, like its first smartphone, aren't cheap. NEW YORK (CNNMoney) Shares plunged 10% in extended trading Thursday after the tech giant reported a larger than expected loss. While sales rose 23%, the company recorded...

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For sale: Town of Alladin, Wyo., for $1.5 million

NEW YORK (CNNMoney) Located 80 miles northwest of Rapid City, SD, this 30-acre hamlet features a 126-year-old general store and post office, a bar and homes for the town's 15 full-time residents. And the whole town can be yours for the bargain...

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3 things that will drive your life insurance premiums through the roof

NEW YORK (CNNMoney) But just how much does your age, gender or smoking habit cost you? InsuranceQuotes.com evaluated life insurance premiums for the top 25 carriers in the nation to find out. Men pay an average of 38% more than women for the...

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Chinese homebuyers are flocking to these U.S. states

NEW YORK (CNNMoney) More than half of the $22 billion Chinese buyers spent on U.S. homes during the 12 months ended in March was spent in California, Washington and New York, according to the National Association of Realtors. Top U.S. states...

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Only 3 in 10 Twitter workers are women

Most workers at Twitter are white and male, according to statistics from the company released Wednesday. NEW YORK (CNNMoney) Overall, only 3 in 10 employees there are women and 59% of its workforce is white. "We have a lot of work to do,"...

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Macan - Porsche's physics-defying SUV

Santa Barbara, Calif. (CNNMoney) While the larger Cayenne feels very similar to a sports sedan from behind the wheel, the Macan comes amazingly close to a sports car. I drove one through canyon roads from the Los Angeles area out to Willow Springs...

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Get ready for craft beer with a Latin twist

NEW YORK (CNNMoney) Among them is Juan Camilo, a 28 year old Dominican-American entrepreneur who two years ago turned his beer brewing hobby into a full-fledged business. He quit his job on Wall Street and, with a home-made recipe and a passion for...

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Dark Mail: Email that hides from the NSA

Ladar Levison, the guy behind Lavabit, is launching Dark Mail to encrypt emails so the NSA doesn't even know who's talking. NEW YORK (CNNMoney) But there's one tool that could make it much more difficult for the NSA to spy on you. Meet Dark Mail,...

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Gun maker relocates fearing stricter state laws

The gun manufacturer said that is "very worried" about keeping a factory in Maryland. NEW YORK (CNNMoney) The gun manufacturer said Tuesday that it is "very worried" about keeping a factory in Maryland. While proposed gun laws that would have...

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$24 billion tobacco verdict: One down, 5,130 to go

NEW YORK (CNNMoney) R.J. Reynolds Tobacco Co. (RAI) -- maker of the Camel, Kool and Pall Mall brands -- still has about 5,130 cases to fight. They're the remnants of a Florida class action lawsuit from the 1990s that was dismantled but allowed to...

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Netflix passes 50 million subscribers

Netflix recently premiered the second season of its hit series Orange Is The New Black. NEW YORK (CNNMoney) The streaming video service said Monday that it now boasts over 50 million members in 40 countries, including 36 million in the United...

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Israeli tech talent tapped to fight in Gaza

Vaknin (center) with his army unit in 2009; Vaknin with Ido Aharoni, Consul General of Israel in New York NEW YORK (CNNMoney) Lior Vaknin, 27, is no exception. He served as a special forces paratrooper in the Israeli army from 2006 to 2009, and...

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What really happened with NBC and Ayman Mohyeldin

Journalist Ayman Mohyeldin. NEW YORK (CNNMoney) His exit from Gaza had caused an uproar among his fans and fellow correspondents, some of whom wondered if Mohyeldin, the network's only Arab-American correspondent in the region, was being censored...

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Wall Street reform law only half done

Percentage of the 398 required rules that have been finalized. NEW YORK (CNNMoney) While regulators have sped up the pace of finalizing the complex batch of regulations required by Dodd-Frank, there's clearly a lot more work ahead. According...

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Millennials say no to marriage

NEW YORK (CNNMoney) Today's young adults are on track have the lowest rates of marriage by age 40 compared to any previous generation. If the current pace continues, more than 30% of Millennial women will remain unmarried by age 40, nearly twice the...

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