News Briefs
TRENTON, N.J. — A drug for dangerously high blood pressure, normally priced at $25.90 per dose, offered to hospitals for $1,200. Fifteen deaths in 15 months blamed on shortages of life-saving medications. A growing crisis in the availability of drugs for chemotherapy, infections and other serious ailments is endangering patients and forcing hospitals to buy from secondary suppliers at huge markups because they can't get the medications any other way.
WASHINGTON — Top executives from a bankrupt California solar energy company declined to testify before a congressional hearing investigating their half-billion dollar government loan. Solyndra Inc. CEO Brian Harrison and the company's chief financial officer, Bill Stover, both invoked their Fifth Amendment right to decline to testify to avoid self-incrimination.
NEW YORK — . The number of homes across the country that received an initial default notice — the first step in the foreclosure process — jumped 33 percent in August from July, the foreclosure listing firm RealtyTrac reported last week. It was the largest monthly increase since August 2007, right after the housing bubble had burst.
WASHINGTON — The Federal Housing Finance Agency's inspector general said in a report Friday that Fannie failed to establish an "acceptable and effective" way to monitor foreclosure proceedings between 2006 and early 2011.
LOS ANGELES — KB Home on Friday became the latest major homebuilder to report a surge in new home orders for the closing months of summer and said it anticipates the sales increase will continue next year. The company posted a wider third-quarter loss than a year earlier, however, as completed home sales tumbled 31 percent.
LOS ANGELES — KB Home on Friday became the latest major homebuilder to report a surge in new home orders for the closing months of summer and said it anticipates the sales increase will continue next year. The company posted a wider third-quarter loss than a year earlier, however, as completed home sales tumbled 31 percent.
WASHINGTON — The world's economic powers struggled on Friday to get on top of a European debt crisis that is threatening to drag the global economy back into recession. Officials gathered for three days of discussion pledged to push forward to fulfill the goals of a program in which the Group of 20 major economies promised stronger cooperation to jump-start global growth and help Greece avoid a destabilizing default.
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