Business

10:47am

Wed August 1, 2012
The Two-Way

USPS Defaults On $5.5 Billion Payment To Treasury

An employee loads flat trays onto a truck at the U.S. Postal Service processing and distribution center in Merrifield, Va.
Andrew Harrier Bloomberg via Getty Images

For the first time ever, the United States Postal Service has defaulted on a payment to the Treasury.

The USPS warned of a default in a statement on Monday. It it would not make the $5.5 billion payment due today and that it would also default on a $5.6 billion payment due Sept. 30. Both of those payments are federally mandated and go toward prefunding retiree health benefits.

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7:13am

Wed August 1, 2012
The Two-Way

Employers Added 163,000 Jobs In July, Survey Suggests

There was a 163,000-gain in the number of jobs on private payrolls in July, according to the latest ADP National Employment Report.

That's down from an estimated 172,000 boost in June (a number revised slightly from ADP's previous report of a 176,000-increase for that month).

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5:18am

Wed August 1, 2012
Business

Conservatives Rally Around Chick-fil-A

Originally published on Thu August 2, 2012 5:31 am

Chick-fil-A has been in the news lately, not because of its chicken sandwiches but thanks to comments by the fast food company's president opposing same-sex marriage.

Social media helped spread the story and some of the country's mayors urged Chick-fil-A not to come to their cities. This led conservatives, including former Arkansas Gov. Mike Huckabee, to call for the public to support the chain on Wednesday by eating at one of its restaurants.

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3:20pm

Tue July 31, 2012
The Two-Way

Fannie, Freddie Regulator Holds Firm Against Mortgage Write-Downs

Many experts say reducing mortgage principal can help troubled homeowners avoid foreclosure and stay in their homes. But the regulator who oversees two of the nation's largest mortgage holders, Fannie Mae and Freddie Mac, has rejected the idea.
Justin Sullivan Getty Images

A federal regulator is blocking the government-owned mortgage giants Fannie Mae and Freddie Mac from reducing the principal that homeowners owe on their mortgages in order to avoid foreclosures.

Tuesday's decision came from Edward DeMarco, the acting director of the Federal Housing Finance Agency.

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1:55pm

Tue July 31, 2012
The Two-Way

Microsoft Gives Hotmail A Facelift, Says It Will Transition It To Outlook

Originally published on Wed August 1, 2012 6:00 am

The new Outlook is incorporated with other services like Skype.
Microsoft

Microsoft announced that Hotmail — the email service with 324 million users — will transition into a web and more social version of Microsoft's Outlook.

Reuters reports that Microsoft made the announcement, as they showed off their free web version of the email program it is renowned for.

Reuters adds:

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