Money in a Minute: Headlines From Around the Web

In today's news: Economists aren't happy with the economy, new homes sales hit bottom and start a modest climb, banks get sued over their ATMS, wild Wi-Fi crime stories, and Obama's health care reform is safe - for now.

Money in a Minute: Headlines From Around the Web

ECONOMY: Economists temper forecast for recovery

Here’s the scariest news from this young, delicate economic recovery: “Nearly eight in 10 economists say they’re less optimistic about the nation’s economic outlook this year than they were three months ago,” USA Today reports. “Most call high energy prices the biggest threat to the recovery.”

HOUSING: New home sales hover near all-time low

New home sales may have finally found a bottom and are slowly creeping back up. “The Census Bureau reported an annual sales rate of 300,000 new homes in March,” CNN reports. “While that was an 11 percent increase from February’s all-time low of 270,000, new home sales remained near the lowest levels recorded since the government started tracking the data in 1963.”

BANKING: Retirees, others sue banks over ATM fees

When you insert your card into an ATM machine that’s not part of your bank network, is it enough that a screen pops up and says you’ll have to pay extra? Not according to a slew of new lawsuits. “The lawsuits say the banks failed to post notices outside the ATM alerting non-customers about the fees, as required by a 10-year-old federal law,” USA Today reports. “The law says an on-screen notification isn’t enough. A physical sign also is required.”

TECH: New York case underscores Wi-Fi privacy dangers

True story: Using a potato chip can as an antenna, someone hacked into a man’s Internet connection to download 10 million images of child porn. “It’s unknown how often unsecured routers have brought legal trouble for subscribers,” the Associated Press reports. “Law enforcement advice: Password-protect your wireless router.”

HEALTHCARE: Supreme Court won’t fast track Virginia challenge to health law

The U.S. Supreme Court may still one day strike down key parts of President Obama’s health care reform, but it won’t do it right away. “The Supreme Court has rejected a request from the state of Virginia to take up a challenge to the Obama health care law on a fast track,” MSNBC reports. “The court’s decision means the issue will continue working its way through the federal appeals courts.”

Michael Koretzky
Michael Koretzky @koretzky
Journalism is a profession of highs and lows. I've covered the 1988 Democratic and Republican national conventions, two space shuttle launches and one landing, and a jazz festival in Istanbul. Then again, ... More

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