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Banking & Finance

BILL CRAWFORD: Mississippi needs every federal dollar it can get

Let’s get real.    Ignore political ideology for a moment.   Mississippi is a poor state, persistently landing near the bottom on income, health, and education rankings. Many families depend heavily on federal benefits to survive. So, too does state government (44 percent of total spending). Many small businesses’ survival depends heavily on federally subsidized families and government.   Yes, federal ...

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Stocks slip into losses in the afternoon after Yellen speech

Stocks were mostly lower on Wall Street in early afternoon trading on Friday, giving up modest gains following a generally upbeat assessment of the economy from Fed Chair Janet Yellen. Phone companies and utilities, widely considered safe-play stocks, led the list of declining stocks, while the health care and technology sectors rose. AT&T and Verizon each fell 1 percent. KEEPING ...

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Stocks lackluster, oil drops ahead of Fed chair’s speech

Global stock markets were subdued and the price of oil fell Wednesday as investors awaited fresh cues from the U.S. Federal Reserve on the outlook for interest rates in the world’s largest economy. KEEPING SCORE: Britain’s FTSE 100 edged 0.2 percent lower to 6,852 and Germany’s DAX rose 0.3 percent to 10,619. The CAC 40 of France rose 0.5 percent ...

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Stocks fall in early trading as oil prices decline

Stocks were moving mostly lower in early trading Monday as investors looked ahead to the Fed’s meeting in Jackson Hole, Wyoming, for clues on timing for possible interest rate hikes. A drop in oil prices pulled energy companies lower, along with the broader market. KEEPING SCORE: The Dow Jones industrial average lost 67 points, or 0.4 percent, to 18,487 as ...

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US stocks mostly lower as energy companies slide

U.S. stocks are mostly lower Friday as investors continue to sell phone and utility stocks, and energy companies trade lower as the price of oil slips. Consumer and technology companies are making modest gains, however. KEEPING SCORE: The Dow Jones industrial average shed 23 points, or 0.1 percent, to 18,574 as of 11:30 a.m. Eastern time. The Standard & Poor’s ...

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State probe of securities case leads to $4.24 million settlement fund

By JACK WEATHERLY Morgan Stanley Smith Barney LLC of Ridgeland has reached a settlement agreement with the Mississippi Secretary of State’s Office by which the securities brokerage agreed to establish a $4.24 million fund for investors. The brokerage also agreed to pay a $100,000 fine to the state of Mississippi and reimburse investigative costs of $400,000. Without admitting or denying ...

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US stocks wobble as energy companies rise, health care dips

Stocks are little changed Thursday morning as the market remains in the doldrums. Energy companies are rising as the price of oil continues a recent recovery and phone companies and health care stocks are trading lower. KEEPING SCORE: The Dow Jones industrial average gave up 6 points to 18,568 as of 10 a.m. Eastern time. The Standard & Poor’s 500 ...

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Forrest County deputy’s tax evasion trial delayed

The federal tax evasion trial for Forrest County Chief Deputy Charles Bolton and his wife, Linda Bolton, has been continued again. The Hattiesburg American reports the trial is now scheduled for Sept. 12. Although the continuance was granted to allow Linda Bolton’s new attorneys time to prepare her case, U.S. District Judge Keith Starrett said he was reluctant, given the ...

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BancorpSouth puts 2 planned mergers on hold

A downgrade of BancorpSouth’s Community Reinvestment Act rating means two mergers have been tabled for the time being. BancorpSouth announced in January 2014 its intent to acquire Ouachita Bancshares Corp. of West Monroe, Louisiana, and Central Community Corp. of Temple, Texas. The merger agreements were valued at a combined $325 million in stock and cash at the time. The Northeast ...

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Firm to partially reimburse customers for investment losses

The Mississippi secretary of state says investment firm Morgan Stanley will return up to $4.2 million to partially reimburse customers who had “inordinate losses” because a portfolio manager allegedly used high-risk investments for people who hadn’t agreed to them. Secretary of State Delbert Hosemann says the firm agreed to resolve an investigation by the securities division of his office. In ...

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