Filed under: People , Personal Finance , Entertainment Celebrities routinely make vast amounts of money, but a certain subset of stars is practically defined by their inability (for whatever reasons) to live within those enormous means. The latest famous person to join the ranks of the officially insolvent is Gary Busey, who filed for Chapter 7 bankruptcy last week. According to TheWrap , the debts owed by the actor and reality television personality “far outweigh” his assets, which total $50,000 or less; Busey’s liabilities add up to something…

Filed under: Retirement The total value of Americans’ retirement assets stood at $17 trillion at the end of September — a drop of 7.5% from the record high of $18.4 trillion recorded on June 30, 2011. That’s according to a report by the Investment Company Institute, a national association of asset managers. The $1.4 trillion decline can be attributed in part to the troubles of the stock market: The S&P 500 lost 13.9% during the third quarter.

Nokia Siemens’s planned acquisition of the bulk of Motorola’s wireless-network business likely won’t happen this year. Chinese regulators are still reviewing the deal, and Nokia Siemens now expects approval — and the completion of the purchase — will have to wait until the first quarter of 2011. Continue reading Chinese Regulators Delay Nokia Siemens Deal to Buy Motorola Wireless Assets Chinese Regulators Delay Nokia Siemens Deal to Buy Motorola Wireless Assets originally appeared on DailyFinance on Wed, 29 Dec 2010 19:00:00

Filed under: Banks , Borrowing , Mortgages Just when owners think their mortgage nightmare has ended with the loss of their home through foreclosure , the next round of bad news knocks at the door: the bank holding their second trust deed demands repayment of the loan. Despite heavy political pressure to write off so-called “junior”- or second-lien, mortgages to help struggling owners keep their homes, banks aren’t always willing to follow that script. Why

Late last year, the natural-gas sector got a jolt from Exxon’s ( XOM ) $41 purchase of XTO ( XTO ). Since then, we’ve seen other big-ticket deals, including Total SA’s ( TOT ) $2.25 billion joint venture for Chesapeake Energy’s ( CHK ) Barnett properties.