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Published on NewsOK Modified: December 15, 2014 at 4:12 pm •  Published: December 15, 2014


Memories of financial crisis fading as risks rise

WASHINGTON (AP) — The lessons of the financial crisis may already be fading from memory.

Last week, Congress acted to loosen the regulation of the high-risk investments that ignited the 2008 crisis. Housing regulators cut minimum down payments on home loans. And the Institute of International Finance declared it "worrisome" that global indebtedness, as a share of world economic output, has reached record levels.

All this comes as subprime auto loans for financially stretched buyers are surging. And the so-called too-big-to-fail banks now loom even larger than before the crisis.

The trend toward pre-crisis lending practices worries analysts who favored far-reaching reforms to safeguard the system.


Sony threatens to sue for publishing stolen emails

WASHINGTON (AP) — A lawyer representing Sony Pictures Entertainment is warning news organizations not to publish details of company files leaked by hackers in one of the largest digital breaches ever against an American company.

The Sony materials include studio financial records, employment files and what already has been revealed as salacious gossip by Hollywood executives.

Attorney David Boies demanded Sunday that Sony's "stolen information" — publicly available on the Internet — should be returned or destroyed immediately because it contains privileged, private information. He says the studio could sue for damages or financial losses related to Sony's intellectual property or trade secrets.


Study: Hotter days in US mean less cold cash

WASHINGTON (AP) — Hotter days mean less cold cash for Americans, according to a new study matching 40 years of temperatures to economics.

Days that averaged about 77 degrees ended up reducing people's income by about $5 a day when compared with significantly cooler days. A county's average economic productivity decreases by nearly 1 percent for every degree Fahrenheit that the average daily temperature is above 59, says a National Bureau of Economic Research working paper released Monday.

The study's authors predict that if the world continues on its current path of greenhouse gas emissions, even warmer temperatures later this century will squeeze the U.S. economy by tens of billions of dollars each year.


CEO of Bob Evans Farms steps down from post

NEW ALBANY, Ohio (AP) — The CEO of Bob Evans Farms Inc. is stepping down by mutual agreement after more than eight years in the post as the restaurant operator works on improving its performance.

Steve Davis is also giving up his position as a board member.

Bob Evans Farms said that it has created an interim Office of the CEO while it looks for a permanent replacement as CEO. It named Chief Financial Officer Mark Hood and Mike Townsley, president of the Bob Evans Foods division, to the office.


Fed likely to note gains but signal no rate hike

WASHINGTON (AP) — The Federal Reserve seems poised to recognize sustained improvement in the U.S. economy, but not quite ready to raise a key interest rate.

The Fed has long said it plans to keep a key interest rate near zero for a "considerable time." But if it drops that phrase from its statement following this week's policy meeting, it could signal that it is moving closer to raising rates.

However, most economists think the Fed will wait until June to raise short-term rates. And some think that as long as inflation stays below its target rate of 2 percent, it could wait longer.

Low rates can encourage borrowing and spending and fuel growth. But if left too low for too long, they can accelerate inflation.


Sales of macadamias soar in Korea after nut rage

SEOUL, South Korea (AP) — Nut rage imploded the career of a Korean Air Lines executive and embarrassed her family and country. But South Korean retailers are seeing an unexpected upside — a boom in sales of macadamia nuts.

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