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AP's Top 10 Business Stories of 2013

Wall Street
AP Business Writers Michael Liedtke in San Francisco and Ken Sweet and Joyce M. Rosenberg in New York contributed to this report.

It was an easy year to emulate Warren Buffett even as Congress almost wrecked the economy.

U.S. stocks rocketed to new heights, and markets in Japan and Europe jumped, too. The gains enriched investors and defied a still-subpar economic rebound from the Great Recession.

Budget fights closed much of the U.S. government for 16 days. Leaked classified documents showed that the National Security Agency collected private online communications via Internet companies. The disastrous rollout of President Barack Obama's health care law confirmed fears of a bureaucratic train wreck.

Central banks embarked on a shopping spree. JPMorgan Chase paid a record $13 billion for its role in the housing bust. General Motors flashed signs of its old horsepower. A colossal merger for American Airlines and US Airways took flight. Twitter's IPO recalled the dizzy dot.com era. And the heartbreaking deaths of 1,100 garment workers in Bangladesh showed that some overseas factories serving U.S. companies remain unsafe.

The stock market boom was chosen as the top business story of 2013 by business editors at The Associated Press. Washington's gridlock and dysfunction came in second, followed by revelations involving the NSA.

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aledenican December 29 2013 at 3:02 PM

The stock market surge is because the administration won't let anybody invest in safe, deposit insured vehicles. ('The Fed.' controls interest rates). There is NO interest to be earned. So, individuals only have 'the market' to gamble in with their investments.
But, don't forget, you only actually made any money in the 'the market' when you actually sell your appreciated asset to someone else and have his money. Until then, it only looks like you have something.

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simone.webb December 29 2013 at 6:46 AM

the market will go down in 2014! 13 billion in fines some one should go to the lock up!

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maloontransllc December 29 2013 at 5:24 AM

booms always have a bust...

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kwt49 December 29 2013 at 11:01 AM

Isn't greed still the #1 biz story?

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bitcoinaffiliates December 29 2013 at 11:28 AM

I vote for decentralization!

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aledenican December 29 2013 at 2:44 PM

I have a completely diferent take on the congress (mostly Republicans) vesus the administration. Congress gave the president the option of 'shutting down the government' or delaying the ACA. The president opted for 'shutting down the government'. They planned it all along. Had all the signs made and everything.

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wild64u December 29 2013 at 10:00 AM

To me the big falicy is that the republicans support the rich while somehow the Dems are for the little guy. They both cater to the rich and just try to buy votes. If either party was serious about doing whats right they would reign in big businesses influence, level the playing field for small business. Quit buying votes and work to make this a country of inovation, integrity and hard working people once again.

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GARY December 29 2013 at 9:14 AM

We have a one inch hose filling the trough (for the free riders) and a two inch hose distributing the contents, how long and how fast before it's empty?

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rockermn December 29 2013 at 5:12 AM

Ever since FDR.prsident and all the other presidents . Their total of excutive orders only came to a small 121,in OBAMA"S first 3 and half years,he has passed 923 excutive orders. When is everyone going to wake up and get Obama out ? He still has three years to really put us ALL under.

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3 replies
janice blodgett December 29 2013 at 9:17 AM

We keep hearing about how bad things are, how much debt there is, how much harder you have to work for less money-benefits, how the social safety nets like social security and the rest have to be dismantled, how we're going to lose our pensions. Well isn't it odd that the banks are booming, the stock market is booming, the rich are getting richer, while all the "bad things" are being discussed ?

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