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Tim Devaney

tdevaney@washingtontimes.com

Tim Devaney was a national reporter who covered business and international trade for The Washington Times.

Articles by Tim Devaney

**FILE** Instagram is demonstrated on an iPhone on April 9, 2012, in New York. (Associated Press)

Hackers grab private data from devices

High-tech thieves don't have to dig through your garbage to find sensitive files like bank statements and credit card bills. Nowadays, they can steal private information from old laptops, smartphones, fax machines, copiers, servers and pretty much any electronic device.

September 5, 2012
**FILE** Maryland Gov. Martin O'Malley (The Washington Times)

Dems managing expectations for upcoming convention

Four years after the "hope and change" euphoria of the 2008 Democratic National Convention, party leaders said Sunday to expect a more sober gathering in Charlotte, N.C., this week.

September 2, 2012
Bernard Madoff is serving a 150-year prison term for his Ponzi scheme that stole an estimated $36 billion from investors. (Associated Press) ** FILE **

Even after Madoff, Ponzi scams still flourish

Even after the collapse of Wall Street financier Bernard L. Madoff in 2009, investors are still learning the hard way that if it sounds to good to be true, it probably is, with the Securities and Exchange Commission cracking down on a growing number of Ponzi schemes in the years since Madoff's financial empire collapsed.

August 30, 2012
Specialists watch from the New York Stock Exchange in September 2011 as President Obama makes a speech. The S&P 500 and Nasdaq stock indexes have both fared better in Mr. Obama’s first term than in those of five previous presidents. (Associated Press)

Stocks, gas prices offer hard election numbers for Obama

President Obama's first four years in office have proven a profitable time for stock pickers on Wall Street and expensive one for everyday commuters, but how the bull market in stocks and the high prices at the pump will balance out at the polls in November is an open question.

August 27, 2012

Blog post prods Progressive to pay a claim

Facing an onslaught of online hostility, the Progressive Corp. insurance group Thursday agreed to a settlement with the family of Kaitlynn Fisher, a deceased policyholder, but only after the family complained that the company was siding with the driver who was found responsible for killing the young Baltimore woman in a car accident -- to avoid paying her claim.

August 16, 2012
Mark Zuckerberg (center), Facebook founder, chairman and CEO, applauds at the opening bell of the Nasdaq stock market on May 18, 2012, from Facebook headquarters in Menlo Park, Calif. (Associated Press/Nasdaq via Facebook, Zef Nikolla)

Facebook stock facing new pressure with new insider selling

Three months after Facebook's troubled launch as a publicly traded company, its troubled stock faces another challenge Thursday when millions more shares could flood the market and add downward pressure to a stock that already has lost nearly half of its initial public offering price.

August 14, 2012
Groupon said Monday that its second-quarter earnings beat Wall Street’s profit estimates, but underwhelmed analysts and disappointed investors with growth hurt by unfavorable currency movements. (Associated Press)

Groupon shares drop over earnings results

Groupon shares tumbled 20 percent to the lowest price in company history Monday after the daily deals website disappointed investors with its second quarter earnings results.

August 13, 2012
In this image made available by the London Organising Committee of the Olympic Games on Wednesday July 27, 2011 shows the London 2012 Olympic gold medal designed by British artist David Watkins. The back of the medal is displayed in this image all medals will be 85mm in diameter. With one year to go until the opening ceremony of the 2012 Olympic Games, London organizers completed the last of the Olympic Park's permanent venues Wednesday July 27, 2011 and promised to put on a safe and spectacular event that will captivate the world. (AP Photo/LOCOG, Ho)

Pawn site offers break for financially strapped Olympians

Recognizing that not every returning American Olympic hero has the earning potential of a Michael Phelps or a Gabby Douglas, a popular online pawn service is offering to help Olympic athletes turn their gold medals into quick cash to pay for training expenses, transportation and housing for their family and friends — and even to help pay the taxes they face on the medals they win.

August 8, 2012
Nexen has an oil sands facility near Fort McMurray, Alberta, Canada. Nexen is being acquired by China National Offshore Oil Co. in a $15-billion deal that, if successful, will be China’s largest ever overseas acquisition. For Canadians, more drilling means more jobs and tax revenue. (Associated Press)

Canada embracing China’s post-Keystone tar sands bid

China's bid for a bigger stake in the booming tar sands oil fields of Canada has some American lawmakers flustered, but the deal is likely to be approved anyway by Canadian officials fed up with Washington's delays on the stalled Keystone XL pipeline.

August 5, 2012
**FILE** President Obama talks Aug. 3, 2012, at the White House about taxes. (Associated Press)

Obama celebrates a quieter birthday

President Obama celebrated his 51st birthday with a round of golf at Andrews Air Force Base Saturday morning, according to the Associated Press. Then, he flew over to Camp David, the president's private retreat, for more birthday festivities on a low-key weekend.

August 4, 2012
Facebook’s initial public offering May 18 failed to live up to the hype, and the company’s shares have fallen more than 35 percent since it first hit the market at $38. Facebook reported a $157 million loss for the second quarter, though much of that was due to a one-time expense that led to a loss of 8 cents per share. (Associated Press)

Facebook’s stock tumbles to new low

Two months after an ugly initial public offering, Facebook's stock is trading at the lowest level in company history after investors reacted poorly to a one-time $157 million loss in the second quarter of 2012.

July 26, 2012
AOL CEO Tim Armstrong at the Allen & Company Sun Valley Conference in Sun Valley, Idaho, Wednesday, July 11, 2012. (AP Photo/Paul Sakuma)

AOL posts strong earnings, stocks soar

After a decade of falling behind more-innovative competitors such as Google and Microsoft, former Internet giant AOL slammed the brakes on its decline Wednesday, as the company announced its best earnings results in years, thanks to a big patent sale to Microsoft and an increase in advertising revenue.

July 25, 2012