U.S.
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 ...
IMF Issues Stern Advice for World’s Major Economies
The International Monetary Fund had stern advice for the euro zone and other major economies on Tuesday in its periodic update on the health of the world economy. The following are the highlights ...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 ...
Moody’s Still Sees Negative Outlook For Most U.S. State, Local Governments
Moody's Investors Service said on Tuesday that most U.S. public finance sectors, such as state and local governments, still face a negative outlook and will likely continue to do so until fiscal and ...
Influential Economic Study On Austerity May Be Flawed; Spreadsheet Coding Errors Blamed
One of the key intellectual touchstones in the move towards government austerity efforts around the world may have been incorrect in its conclusions due in part to spreadsheet coding errors, ...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 ...
American Airlines Restores Reservation System; Warns of More Cancellations
American Airlines said its computer systems were restored and flights had resumed after intermittent outages on Tuesday forced it to ground hundreds of U.S. flights, but warned travelers to expect ...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 ...