I believe the reason I can’t get a loan from prior job’s 401k is precisely that, it is from prior employer. Current employer doesn’t offer a 401k for me to rollover to. I am 100% vested and would really benefit from being able to get a loan from those funds to pay off some recent medical expenses. I thought about an individual 401k, but that’s for sole proprietors, etc., then rolling over the old 401k to that one so I can then get a loan. Is it possible to get an individual 401k if I am already employed somewhere? Anyone got any input?

I have several old 401k accounts from my previous employers with vanguard and fidelity. My money in these accounts is mostly invested in mutual funds from Vanguard, T.Rowe Price. I want to consolidate my 401k accounts into one rollover account but not sure which IRA vendor will be best? I am debating among: Vanguard, Fidelity, Scottrade, Sharebuilder. I generally only invest in mutual funds. Please advise on how I should make decision b/w these accounts and what are the trade-offs?

Eurocontrol Says Delays Will Last Into Evening After Malfunction
Flight delays in Europe will last until 11 p.m. Central European Time after a malfunction in a radar’s computer at a control center in the Netherlands forced controllers to delay the take off of 250 flights in the region, Eurocontrol spokesman Fred Konnemann said in a telephone interview.

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Argentina Opposition Will Try to Revoke Decision on Fibertel
Argentine opposition leaders in Congress said they will try to revoke the government’s decision to shut down Grupo Clarin SA’s Internet provider Fibertel SA.

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U.S. Stocks Trim Losses as Utilities, Technology Shares Gain
U.S. stocks pared losses as gains in utilities and technology companies helped the market recover from an earlier tumble fueled by growing concern the economic recovery is faltering.

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Swedish Government Sees Economic Growth of 4.5% in 2010
Sweden raised it economic growth forecast and now expects gross domestic product to expand 4.5 percent this year and 4 percent in 2011, Finance Minister Anders Borg told reporters today in Harpsund, south of the capital Stockholm. The government’s previous forecast, published on July 5, was for gross domestic product to grow 3.3 percent this year, 3.8 percent in 2011 and by 3 percent in 2012.

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Paolo Pellegrini Said to Return Money to Outside Investors
Paolo Pellegrini, the former Paulson & Co. hedge-fund manager who helped that firm make more than $3 billion with bets on a U.S. housing crash, plans to return money to outside investors in his hedge fund after losing about 11 percent this year, according to a person with direct knowledge of the decision.

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Fed Buys $3.609 Billion of Treasuries in Reinvestment Program
The Federal Reserve bought $3.609 billion of Treasuries as part of a program to reinvest principal payments on its mortgage holdings into long-term government debt to prevent money from being drained out of the financial system.

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BP Refuses Requests for Documents, Transocean Says
BP Plc’s “continued refusal to provide documents” is blocking efforts to determine the cause of the spill at the company’s well in the Gulf of Mexico, rig owner Transocean Ltd. said today.

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European Stocks Decline; Benchmark Stoxx 600 Index Slips 0.3%
European stocks declined, erasing earlier gains, as construction companies and utilities fell. The Stoxx Europe 600 Index retreated 0.3 percent to 256.88 at 8:49 a.m. in London, having previously risen as much as 0.6 percent.

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Worker Fatalities Fall 17% on Decline in Construction Deaths
U.S. workplace deaths fell 17 percent in 2009 to a record low on a decline in construction fatalities, as unemployment surged to the highest level in a quarter century.

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European Stocks Erase Gains; Telecom, Construction Shares Drop
European stocks erased their advance as telecommunication and construction shares declined. The Stoxx Europe 600 Index slipped 0.1 percent to 257.3 at 8:32 a.m. in London, having earlier risen as much as 0.6 percent.

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Taiwanese Economy Expanded by 12.53% in the Second Quarter
Taiwan’s economy expanded 12.53 percent in the second quarter from a year earlier, the statistics bureau said today in Taipei.

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U.S. Stocks Extend Losses After Philly Fed Unexpectedly Drops
U.S. stocks extended losses after a Federal Reserve report showed manufacturing in the Philadelphia region unexpected contracted in August, fueling concern the economic recovery is in peril

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Nationwide Egg Recall Tied to Illness in 10 States
A nationwide recall of 380 million eggs that may contain salmonella bacteria may be linked to illnesses in at least 10 states, U.S. officials said.

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Ackman Group’s Stuyvesant Town Foreclosure Auction Postponed
A foreclosure auction for New York’s Stuyvesant Town-Peter Cooper Village apartment complex was postponed after senior creditors sued to block a group led by Pershing Square Capital Management LP from gaining control.

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Obama Says Jobless Claims Show Urgent Need for Business Aid
President Barack Obama said the jump in unemployment claims shows the urgent need for congressional action on legislation to cut taxes and ease credit for small businesses.

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U.S. Banks May Face $180 Billion in Loan Buybacks, Fitch Says
Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. might face demands to repurchase as much as $180 billion of troubled mortgages from Fannie Mae and Freddie Mac, Fitch Ratings said.

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Arsenal Invests in KGS as Private Equity Backs Broker-Dealers
Private-equity firm Arsenal Capital Partners LP is backing a pair of former Citigroup Inc. executives in a new fixed-income broker-dealer called KGS-Alpha Capital Markets LP, as buyout firms take advantage of turmoil in institutional brokerages.

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J&J Reorganizes Manufacturing After Series of Medicine Recalls
Johnson & Johnson, under congressional investigation after a series of over-the-counter medicine recalls, will reorganize its manufacturing and appoint chief quality officers for each of its three business units.

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General Motors Files for IPO
The automaker filed for an initial offering that may be the second-largest American IPO in history

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Blowpipes, Machetes Used to Kill Three UN Peacekeepers in Congo
A group of Congolese men armed with blowpipes, machetes and other traditional weapons killed three Indian peacekeepers at a United Nations base in the eastern Democratic Republic of Congo early today, a UN official said.

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Hello, I’ve got a question that maybe someone can answer. Can I rollover the majority of my 401K into a CD at my bank and pay the taxes on what I need to pay bills? I’m shelling out more than I’m bringing in because the company I work for closed the office I was working out of (free parking) and I have to drive to their office in the city where I have to pay for parking, plus I’m having to spend more for gas to drive there. I’ve already taken out the max of loans allowed which is 3. I either need to be able to do this so I can pay off debt and have an apartment to live in, a car to drive and be able to eat. The other option is take their offer of leaving and get the money they are offering, use that to pay down debt and use their help trying to find another job with no guarantee of finding another job in the month of help they are offering.
Thank you all for your answers. Vic J I think you’ve got the best answer. I tried to get a loan from the bank in my area, but they said no, so best option is your option. If they don’t like it and can’t accept $5 – $25 when I can spare it they can kiss my rear end. I called one of the CC and they don’t want to work with my so I can fulfull the obligation of paying them. That’s just wrong as I called and was up front with them. Once that card is paid off they will get it back cut up. the rest of them are working with me so I can pay them and still have as you said roof, food etc.

DPJ Lawmakers Urge Government, Bank of Japan to Curb Yen Surge
Lawmakers from Japan’s ruling party urged the government to consider intervening in the currency market to arrest the yen’s rally to a 15-year high.

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MetLife, Prudential Limits Sought on Retaining Death Benefits
U.S. life insurers, a group led by MetLife Inc. and Prudential Financial Inc., would be prohibited from retaining death benefits without specific consent of clients, under a proposal today by state legislators.

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Treasuries Lower After $16 Billion Bond Sale
Treasuries remained lower after the U.S. sold $16 billion in 30-year bonds. The current 30-year security yielded 3.94 percent in New York.

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Corrections & Clarifications
In “The Woman Leading Rothschild’s China Push” (Markets & Finance, Aug. 9-15), PetroChina was misidentified. It is China’s largest oil producer, not its biggest offshore energy explorer. Also, the Chinese word guanxi, as in personal connection…

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GM CEO Whitacre Said to Announce a Change in His Position
General Motors Co. Chief Executive Officer Ed Whitacre will announce a change in his role today, a person familiar with the matter said.

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Finally, Indian IPOs in the U.S.?
After a long drought, an Indian company has a successful Nasdaq debut, and that could pave the way for more deals

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European Stocks Advance, Led by Miners, Banks; U.S. Futures Gain
European stocks rallied, led by gains in basic-resources companies and banks, as the economies of Germany and France expanded at a faster pace than estimated. U.S. stock-index futures and Asian shares also advanced.

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U.S. Stock Futures Hold Losses
U.S. stock futures maintained losses after retail sales rose less than forecast in July

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Vedanta Said to Seek Controlling Stake in Cairn Energy Unit
Vedanta Resources Plc, controlled by billionaire Anil Agarwal, is in advanced talks to buy a controlling stake in Cairn Energy Plc’s Indian oil-exploration unit, according to two people with knowledge of the matter.

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DPJ Lawmakers Urge Government, Bank of Japan to Curb Yen Surge
Lawmakers from Japan’s ruling party urged the government to consider intervening in the currency market to arrest the yen’s rally to a 15-year high.

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Ex-Illinois Governor Blagojevich Trial Jury Ask About Deadlock
Jurors in the corruption trial of former Illinois Governor Rod Blagojevich asked the judge today for guidance on what they should do if they cannot reach a unanimous verdict, the judge said in a hearing.

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Yen Near Highest Level Since 1995 on Bets Intervention Unlikely
The yen traded at almost its highest level against the dollar since July 1995 on speculation Japan is unlikely to try to weaken its currency.

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AB InBev Second Quarter Net of $1.15 Billion Beats Estimates
Anheuser-Busch InBev NV, the world’s largest brewer, said second-quarter net income rose to $1.15 billion from $1.07 billion a year earlier, according to a statement published on its website. Profit beat the $1.08 billion average of 11 analyst estimates compiled by Bloomberg.

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UniCredit Unit Being Probed by Madoff Trustee for Legal Claims
UniCredit SpA’s Pioneer Alternative Investment Management unit, which invested $1.1 billion of client money in Bernard Madoff “feeder funds,” is being probed for possible legal claims by the trustee liquidating the conman’s business.

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Noda Says ‘Excessive’ Currency Moves Can Harm Japan’s Economy
Japanese Finance Minister Yoshihiko Noda said excessive moves in the yen could hurt the economy and that the government is monitoring developments and is prepared to take necessary action.

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Would my previous company have any information about my 401k . I took my 401k when I left and rolled it over with a Bank into a IRA . I have called and written to the bank and the company and all I can get is one statement showing a withdrawal . I made 2 withdrawals from my 401k and want to know what tax was witheld . I dont have any paperwork everything was damaged in a flood .This all happened years ago now I need it as the irs says I owe more money .where else could I look for information right now I am searching some old bank records .

European Stocks Advance; Benchmark Stoxx 600 Index Climbs 1%
European stocks gained, rebounding from two days of losses, after U.S. equities recouped most of their losses in the final hours of trading on Aug. 6. The Stoxx Europe 600 Index rose 1 percent to 261.38 at 8:01 a.m. in London.

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Mexico Ex-President Calls for Drug Legalization Amid Violence
Former Mexican President Vicente Fox said his country should legalize the production and sale of drugs in order to curb rising cartel-related violence.

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ECB Bought Lowest Amount of Bonds Last Week Since Buying Began
Bond purchases by the European Central Bank fell to the lowest last week since the program began in May.

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China July Car Sales Growth to Dealers Slowest Since March 2009
China’s sales of passenger cars to dealerships increased last month at the slowest pace since March 2009, according to the China Association of Automobile Manufacturers.

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Allied Buys $250 Million of Shares From Goldman, Investors
Allied World Assurance Company Holdings Ltd., the Bermuda-based insurer whose co-founders include American International Group Inc. and Chubb Corp., has repurchased $250 million in shares from investors including affiliates of Goldman Sachs Group Inc.

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