Posted on August 7, 2014 at 9:01 AM
Another bank is facing a fine related to mortgage practices that led to the financial crisis. Bank of America is expected to pay $17 billion to settle charges it sold faulty mortgage securities in the run-up to the financial crisis. This is possibly the biggest legal settlement by a company in U.S. history and struggling homeowners could get some of that money.
Russia is fighting new sanctions imposed by the U.S. by banning imports of American produce and poultry for up to a year. That action could hurt American farmers because Russia is the second largest buyer of U.S. chicken.
Google and Barnes and Noble are joining forces against rival Amazon. The two are concentrating on a service of fast, cheap delivery of books. That's a market Amazon has long dominated. Starting today, book buyers in Manhattan, West Los Angeles and the San Francisco Bay area will be able to get same-day deliveries from local Barnes and Noble stores through Google's shopping express. Delivery is free for subscribers of Google's shopping express; there's a $4.99 per delivery fee for all other customers.
Pope Francis is offering advice to young people. He's urging them not to spend too much time on the Internet. He says while technology can help improve our quality of life, it should not distract from what is really important.