Exclusive: Big mortgage investors take first step toward suing Ocwen
NEW YORK (Reuters) – Major mortgage bond investors including BlackRock, MetLife and Pimco on Friday took a first step toward suing Ocwen Financial Corp , accusing it of having failed to properly collect payments on $82 billion of home loans, according …
Wall Street falls on miners, UPS; indexes up for week
NEW YORK (Reuters) – U.S. stocks fell modestly on Friday, pressured by underwhelming corporate news including guidance from economic activity bellwether UPS and as materials stocks fell after bearish notes.
Expedia Inc acquires Travelocity in $280 million deal
(Reuters) – Expedia Inc has acquired online travel agency Travelocity from technology company Sabre Corp for $280 million in cash, the companies said in a statement on Friday, as consolidation in the online booking industry continues.
FXCM options activity surges after Swiss shock
NEW YORK (Reuters) – Losses from the surprise move by the Swiss National Bank nearly crippled brokerage FXCM , but all the attention has resulted in a surge of activity among options traders on the online forex broker.
U.S. existing home sales, economic activity gauge rise
WASHINGTON (Reuters) – U.S. home resales rebounded in December, but continued low participation by first-time buyers in the market suggested the housing recovery would remain gradual for now.
MasterCard to allow transactions in Cuba using U.S.: issued cards
(Reuters) – MasterCard Inc said it would allow its cards issued in the United States to be used in Cuba, effective March 1.
GE industrial profit rises despite flagging oil unit sales
(Reuters) – General Electric Co reported a 9 percent rise in quarterly industrial profit on Friday as its businesses that sell power-generating turbines and jet engines helped offset weak sales in its oil and gas unit.
Russia details bank recapitalization scheme
MOSCOW (Reuters) – Russian banks with at least 25 billion roubles in capital and willing to increase lending to key sectors of the economy will be able to participate in a 1 trillion rouble ($15.65 billion) recapitalization plan, Russia announced on Fr…
Brent rises after Saudi king dies, U.S. crude falls
NEW YORK (Reuters) – Brent crude rose on Friday on uncertainty over Saudi oil output following the death of King Abdullah, while U.S. crude prices fell, with traders citing a reported build at the Cushing, Oklahoma storage hub and the partial shutdown …
Deere to cut more than 900 U.S. workers as farm economy weakens
CHICAGO (Reuters) – Deere & Co , the world’s largest maker of farm equipment, will lay off more than 900 employees at plants in Iowa and Illinois in the latest round of job cuts spurred by a decline in grain prices that is hurting demand for agricultural machinery.
