JPMorgan to face U.S. class action in $10 billion MBS case
NEW YORK (Reuters) – A federal judge on Tuesday said JPMorgan Chase & Co must face a class action lawsuit by investors who claimed the largest U.S. bank misled them about the safety of $10 billion of mortgage-backed securities it sold before the financial crisis.
Wall St. ends down for day, month; indexes gain in quarter
NEW YORK (Reuters) – U.S. stocks slipped on Tuesday, dragged down by energy and materials shares as economic data disappointed.
Analysis: Ford’s rosy 2020 outlook hinges on new F-150, Lincoln
DETROIT (Reuters) – If Ford Motor Co’s new chief executive Mark Fields hoped to muffle the shock of an earnings outlook rollback on Monday by unveiling aggressive growth targets for 2020, then it did just the opposite, as investors and analysts were do…
Microsoft names next operating system ‘Windows 10’
SAN FRANCISCO (Reuters) – Microsoft Corp announced its ‘Windows 10’ operating system on Tuesday to replace the largely unpopular Windows 8, skipping a number to mark a leap toward unifying the way people work on tablets, phones and traditional computer…
BNY Mellon to shut derivatives sales, trading business
(Reuters) – Bank of New York Mellon Corp will exit the derivatives sales and trading business that operates as part of the company’s global markets group.
EBay follows Icahn’s advice, plans PayPal spinoff in 2015
(Reuters) – EBay Inc’s agreement on Tuesday to spin off PayPal next year will give the unit more flexibility to strike deals in the rapidly evolving payments space as growth at the company’s traditional e-commerce business slows.
Pimco CEO says firm to expand equities business: CNBC
NEW YORK (Reuters) – Pimco intends to expand its equities business and there will be no difference in the firm’s portfolio management following the departure of former Chief Investment Officer Bill Gross, two top Pimco executives said on Tuesday.
Argentina defies U.S. court order by depositing debt payment
BUENOS AIRES (Reuters) – Argentina deposited a $161 million bond interest payment with a newly appointed local trustee on Tuesday, the Economy Ministry said, defying a U.S. judge who held it in contempt a day earlier for taking illegal steps to meet it…
Portugal sounds out Spanish banks on Novo Banco sale: sources
MADRID (Reuters) – Portugal has begun sounding out Spanish banks on their interest in buying Novo Banco, the successor to the state-rescued Banco Espirito Santo (BES), several sources familiar with the talks said on Tuesday.
AT&T expects customer usage of NEXT to reach 50 percent in third quarter
WASHINGTON (Reuters) – AT&T Inc expects that customer use of its equipment installment plan will have reached 50 percent in the third quarter, the company said in a regulatory filing on Tuesday, fewer customers than analysts expected.
