May 6, 2013

Business Notebook

The Associated Press and Bloomberg News contributed.

Local & State


Bloomberg ranks USC undergrad international business program No. 1

Bloomberg Businessweek has ranked the University of South Carolina’s Darla Moore School of Business’ undergraduate international business program No. 1. The rankings, released Monday, were part of the business magazine’s 2013 Best Undergraduate B-Schools rankings. Rankings for specialty programs and the complete list will be released in the coming weeks. The rankings are based in part on an online survey of undergraduate business students who ranked their experience and were asked to grade specialty programs on the letter scale A to F.

Nation & World

Haley, 5 other coastal governors, urge more offshore drilling

Six coastal governors, including S.C. Gov. Nikki Haley, have called on Washington to open up more waters to offshore drilling and to make permitting a quicker, more efficient process. Haley, along with other governors, spoke Monday at the Offshore Technology Conference in Houston. They say a federal moratorium on offshore drilling after the 2010 Gulf of Mexico oil spill, and permitting requirements put in place after that, have made it difficult for companies to develop resources. The governors say more drilling would create jobs, strengthen the nation’s economy and lower gas prices. Drilling off the South Carolina coast – currently banned as environmental and regulatory reviews are conducted – is a concern among some tourism officials and environmentalists because potential damage. Haley, in a statement, called on the federal government to partner with governors, “who are focused on creating jobs … to make energy more affordable for families and businesses.”

Wells Fargo accused of violating mortgage settlement terms

New York’s attorney general on Monday accused Wells Fargo and Bank of America of violating the terms of last year’s national mortgage settlement by failing to process hundreds of refinancing requests promptly. Attorney General Eric Schneiderman has notified the national monitoring committee established to enforce the five-bank agreement, citing complaints of 210 prompt-processing violations by Wells Fargo and 129 by Bank of America. The banks are required to respond to mortgage modification requests within 30 days. Both banks said they have helped thousands of homeowners and will work with those who have had problems.

First-time delinquent home loads fall

Six years after the start of the foreclosure crisis, American homeowners are paying their mortgages like the housing crash never happened. First-time delinquent home loans fell to 0.84 percent of the 50.2 million mortgages in March, the first month below 1 percent since 2007, before a wave of defaults led to the financial crisis, according to a report today by Lender Processing Services.

The Associated Press and Bloomberg News contributed.

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