News

GM buying back 200 million Shares of Common Stock from U.S. Treasury

Pile of money - BSN

(Best Syndication News) - General Motors Company (NYSE:GM) announced today that they will be buying back 200 million shares of GM common stock from the U.S. Department of the Treasury. The transaction will be for $27.50 per share – totaling $5.5 billion. The company will buy back 200 million shares out of the 500.1 million shares owned by the government. The buyback is expected to occur by the end of 2012.

GM’s buyback announcement parallels the Treasury’s plan to exit entirely from holding GM stock within the next 12 to 15 months. The exit plan is subject to market conditions.

FTC announces New Children’s Privacy Rules

Security camera - BSN

(Best Syndication News) - The U.S. Federal Trade Commission announced the final amendments were made to the Children’s Online Privacy Protection Rule. The new rules will help better protect the privacy of children under the age of 13 and let parents decide what personal information is collected on websites and online services.

These amendments were added to the Children’s Online Privacy Protection Act (COPPA) of 1998 to better address current technologies. Websites that are directed toward children under 13, or have knowledge that they are collecting information about minors, are required to follow the FTC COPPA rules.

Recall announced for Zicam Extreme Congestion Relief Nasal Gel

Zicam Extreme Congestion Relief nasal gel

(Best Syndication News) - The U.S. Food and Drug Administration announced that Matrixx Initiatives is recalling one lot of Zicam Extreme Congestion Relief nasal gel. The company announced the recall after a single sample tested positive for Burkholderia cepacia during a routine check at their manufacturing location. Now other samples tested positive, however, out of extreme caution, a recall has been announced.

There is very little medical risk for Burkholderia cepacia. There is a potential to infect individuals that have a weakened immune system or a chronic lung condition. An infection of Burkholderia cepacia can be difficult to get rid of with antibiotics because it is resistant.

Current Mortgage Rates Today – JPMorgan Chase and SunTrust continue to raise loan rates

Graph of 15-year mortgage

(Best Syndication News) Mortgage interest rates advanced as capital markets migrated back into riskier assets (see the mortgage rate chart below). All of the major banks, including JPMorgan Chase, Bank of America, Citibank, and SunTrust, started moving their rates higher.

Benchmarks

Positive news from Washington propelled the Dow to triple-digit gains two-straight days. Both sides in the fiscal-cliff debate are beginning to compromise. House Speaker John Boehner promised to bring a bill to the floor of Congress this week that would raise income tax rates on those earning $1 million or more.

Intensive Lifestyle Intervention helped to Reverse Type 2 Diabetes

Weighing in - BSN

(Best Syndication News) - Researchers found that overweight type-2 diabetes patients increased their chances of partial and complete remission with intensive lifestyle intervention. The results, which showed modest remission rates, were reported in the December 19, 2012 issue of JAMA.

Many people diagnosed with type-2 diabetes wonder if the disease is reversible. Diabetes is thought of as a disease that is progressive that will eventually lead to vascular and neuropathic damage. Other studies involving bariatric surgery on type 2 diabetes patients suggested that some cases could be resolved. There were no studies on the rate of remission with lifestyle modifications alone. This prompted Edward W. Gregg, Ph.D., of the Centers for Disease Control and Prevention, Atlanta, and his colleagues to investigate.

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