Government
BofA Reaches Record $500M Settlement With Investors On MBS
Bank of America Corp has reached a record $500 million settlement with investors who claimed they were misled by its Countrywide unit into buying risky mortgage debt. The settlement is the largest to ...
China Slowdown Struggling to Channel Money into Real Economy
A credit boom in China failed to keep economic recovery on track in the first quarter, suggesting the cash sloshing around the economy is not yielding the desired effect of stoking growth and could ...China to Require More Detail on Bank Loans to Financial Institutions
The China Banking Regulatory Commission (CBRC) will require banks to provide more detailed reports on loans provided to other financial institutions through the interbank market, two people close to ...U.S. Court OKs Lehman Settlements; Frees Up $15B For Customers
A U.S. judge on Tuesday approved a set of settlements among Lehman Brothers entities that will allow the company's defunct brokerage to pay back about $15 billion in customer claims. The intercompany ...SEC’s Aguilar Urges End To Mandatory Arbitration Deals By Brokerages
A top U.S. securities regulator on Tuesday urged the government to consider adopting new rules that would prohibit or restrict brokerages and advisers from forcing customers to sign away their right ...
Thatcher’s Legacy: Citadel of Finance Atop Once-Derelict London Docks
Where a maze of derelict warehouses and old cranes once testified to Britain's decline, glass skyscrapers teeming with traders now dominate London's docks, a metaphor - for good and ill - for ...FBI Calls Boston Marathon Bombings ‘Potential’ Terrorist Act; III’s Hartwig Safe at Scene
The death toll from the bombings at the Boston Marathon has risen to three. More than 140 people are being treated at area hospitals for injuries, some of them grave and involving amputations. There ...U.S. Regulator To Fault JPMorgan Over Madoff Accounts: Reuters Report
U.S. regulators plan to fault JPMorgan Chase & Co, which served as Bernie Madoff's main bank for two decades, for failing to conduct adequate due diligence and report suspicious activity, ...