BC-Business News Digest
â¿¿ RESCAP BANKRUPTCY â¿¿ A bankruptcy court has approved a joint $3 billion buyout bid from Ocwen Loan Servicing and Walter Investment Management for Ally Financial's Residential Capital. ResCap filed for bankruptcy protection in May after being hobbled by payments on debt taken out to finance soured home mortgages.
TECHNOLOGY & MEDIA
ALBANY, N.Y. â¿¿ The Federal Communications Commission announces a series of hearings nationwide to try to find ways to avoid widespread loss of communications among first-responders, emergency managers and the general public in disasters like Superstorm Sandy. By Michael Gormley.â¿¿ JAPAN-NUCLEAR ROBOT â¿¿ Toshiba unveils a robot that the company says can withstand high radiation and help in nuclear disasters. But the machine, which looks like an ice cooler on wobbly metal legs, appears prone to glitches. AP photos. â¿¿ FACEBOOK-PRIVACY VOTE â¿¿ Facebook is proposing to end its practice of letting users vote on changes to its privacy policies. INTERNATIONAL EU-BUDGET FIGHT BRUSSELS â¿¿ Everyone's drawing lines in the sand, but the leaders are so far apart they might as well be on different beaches. The European Union heads into a critical summit to hammer out a $1.3 trillion budget through 2020 that promises to be one of its most bitter fights in years. By Raf Casert. AP photos With: â¿¿ EU-WHY IT MATTERS â¿¿ Compared to the size of the governments of its member states, the EU is very small. Yet it wields broad power, and that's why this week's fight over its spending is important. Also: EUROPE-FINANCIAL CRISIS ATHENS, Greece â¿¿ Greece's prime minister warns that the future of Greece and the stability of the entire eurozone depends on creditors reaching a deal to release Greece's $56 billion in rescue loans in the next few days. European finance ministers again failed to come to terms after 12 hours of debate. By Elena Becatoros.
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