GE to pay $1.5 billion U.S. fine over crisis-era subprime mortgages
General Electric Co will pay a $1.5 billion civil fine to resolve a long-running U.S. probe into defective subprime mortgages from its former WMC Mortgage unit prior to the 2008 global financial crisis.
Industrials’ gains put to test as earnings ramp up
Investors betting on industrial stocks this year have been rewarded, with the group among the best-performing sectors so far, but that strength will be tested in the coming weeks as companies report results.
Stocks ‘fear gauge’ at six-month low as Wall Street eyes new highs
With U.S. stocks a stone’s throw away from hitting a record high, Wall Street’s so-called “fear gauge” slipped to a fresh six-month low on Friday, in a sign investors expect the good times to keep rolling.
Mexico, U.S. discuss NAFTA replacement, border delays
Mexican government and business leaders met with U.S. counterparts for a second straight day on Friday, seeking to resolve border delays hurting commerce, hasten ratification of a trade deal, and address metals tariffs.
Wells Fargo’s revenue outlook spooks investors
Wells Fargo & Co shares fell as much as 3 percent on Friday after the bank dialed back its net interest income outlook for this year and reported a decline in total quarterly revenue.
Gains in Walt Disney, bank shares bolster Wall Street
U.S. stocks rose on Friday, lifting the S&P 500 above the 2,900 mark for the first time since early October, boosted by gains in Walt Disney shares and as bank stocks surged after strong results from JPMorgan.
Campbell to sell Bolthouse Farms for $510 million
Campbell Soup Co said on Friday it would sell its Bolthouse Farms business to an affiliate of private equity firm Butterfly Equity for $510 million, in the U.S. food company’s first major sale as part of its plan to reduce debt.
JPMorgan lifts expectations for rivals with earnings beat
JPMorgan Chase & Co’s better-than-expected first-quarter earnings raised expectations that rival Wall Street lenders would follow suit when they report next week, pushing most bank stocks higher on Friday.
BlackRock trims CEO Larry Fink’s pay for 2018: filing
BlackRock Inc, the world’s largest asset manager, cut total compensation for Chairman and Chief Executive Officer Larry Fink by 4.3% in 2018, according to a filing on Friday.
GE to pay $1.5 billion U.S. civil fine over subprime mortgages
General Electric Co will pay a $1.5 billion civil fine to resolve a long-running U.S. investigation into defective subprime mortgages offered by its former WMC Mortgage unit prior to the 2008 global financial crisis.
