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US consumer bureau sues debt-collection law firm 07/15/2014 09:50am • JEFF HORWITZ Associated Press WASHINGTON (AP) -- The Consumer Financial Protection Bureau sued a major debt collection law firm on Monday, alleging it is a "mill" that produces shoddy, mass-produced credit-card collection lawsuits.The bureau's claim, filed in federal court in Atlanta, states that Fr UK regulator imposes caps on payday loans 07/15/2014 09:21am • LONDON (AP) -- Britain's financial regulator has announced new limitations on what payday lenders can charge their customers, the latest step in moves to tackle poor conduct in the short-term credit industry.The Financial Conduct Authority says Tuesday that from January, payday loan rates must not e Citigroup to pay $7B in subprime mortgages probe 07/15/2014 08:28am • ERIC TUCKER Associated Press WASHINGTON (AP) -- Citigroup has agreed to pay $7 billion to settle a federal investigation into its handling of risky subprime mortgages, admitting to a pattern of deception that Attorney General Eric Holder said "shattered lives" and contributed to the worst financial Investors hope to stay on the upswing...Retail sales, business inventories due 07/15/2014 07:40am • UNDATED (AP) -- Investors are apparently putting last week's stock market doldrums behind them. The three major indexes finished sharply higher on Monday, notching their second gain in two days. The S&P 500 rose 9 1/2 points to 1,977. The Dow Jones industrial average added nearly 112 points to 17,05 Stocks move higher on earnings, acquisition news 07/15/2014 05:48am • ALEX VEIGA AP Business Writer Stocks shook off last week's doldrums and finished sharply higher Monday, driven by a round of corporate deal news and strong earnings from Citigroup.Investors cheered AECOM Technology's $4 billion acquisition of engineering and construction services company URS Corp., US companies look overseas for tax bill relief 07/15/2014 04:50am • TOM MURPHY AP Business Writer A growing number of U.S. companies are looking to trim their tax bills by combining operations with foreign businesses in a trend that may eventually cost the federal government billions of dollars in revenue.Generic drugmaker Mylan Inc. said Monday it will become part Washington's Top News - Tuesday, July 15, 2014 07/15/2014 04:00am • Here's a look at some of the day's top stories from WTOP. Hamas says no to cease-fire proposal A senior Hamas official says his group rejects an Egyptian proposal for a cease-fire with Israel. Egypt had proposed the plan to end a week of heavy fighting that has killed at least 185 people in Gaza ECB's Draghi: Stronger euro could hurt recovery 07/14/2014 05:29pm • DAVID McHUGH Associated Press FRANKFURT, Germany (AP) -- European Central Bank head Mario Draghi said Monday that a stronger euro would put at risk the shaky recovery in the 18 countries that use the shared currency.Draghi made the remark to legislators in the European Parliament in Strasbourg amid Holder: Citigroup settlement doesn't preclude prosecution 07/14/2014 04:28pm • WASHINGTON (AP) -- Attorney General Eric Holder says the $7 billion settlement with Citigroup doesn't preclude the possibility of criminal prosecution for the bank or individual employees.Citigroup today agreed to pay $7 billion to settle a federal probe into its handling of risky subprime mortgages Stocks surge...Mylan buying Abbot's generic business...Crumbs might be revived 07/14/2014 03:30pm • NEW YORK (AP) -- Corporate deals are helping to lift stocks in afternoon trading. Investors are cheering Citigroup's latest earnings. The S&P 500 lost nearly one percent last week, but today it's been higher by about one half of one percent.PITTSBURGH (AP) -- Generic drugmaker Mylan said it will buy Small SC town rallies for fired gay police chief 07/14/2014 02:08pm • JEFFREY COLLINS Associated Press LATTA, S.C. (AP) -- When openly gay police chief Crystal Moore was fired by a mayor who condemned her lifestyle as "questionable," she feared her two decade career in law enforcement in this town was over.Then, this conservative, small town rebelled.The people of Lat Asian stocks rebound after Portuguese bank scare 07/14/2014 07:40am • JOE McDONALD AP Business Writer BEIJING (AP) -- Asian stocks rebounded Monday from jitters about a struggling Portuguese bank as investors looked ahead to a busy week of data releases in the U.S., China and Europe.Oil edged up to stay above $100 after tumbling more than $2 last week amid expectation Portugal bank gets new boss but stock still falls 07/14/2014 07:10am • LISBON, Portugal (AP) -- A new chief executive has been appointed for Portugal's biggest bank, but Banco Espirito Santo's share price is still falling sharply as investors continue to fret about its financial health.The bank said Monday that Vitor Bento, a distinguished economist, is now CEO and Joa Engineering company Aecom to buy URS for $4B 07/14/2014 07:00am • LOS ANGELES (AP) -- Engineering design company Aecom Technology Corp. said Sunday it is buying URS Corp. for $4 billion in cash and stock, or about $56.31 per URS share.The price is 8 percent above URS's closing stock price of $52.02 on Friday, but 19 percent above the average price for the last 30 Kingston, Perdue hone attacks in Ga. Senate debate 07/14/2014 04:28am • CHRISTINA A. CASSIDY Associated Press ATLANTA (AP) -- Georgia Republican Senate candidates Jack Kingston and David Perdue sharpened their attacks on each other during a heated debate Sunday with just over a week to go before their runoff election.Perdue, the former CEO of Dollar General and Reebok,