Deutsche Bank, BayernLB agree to settle $810 million U.S. suit
FRANKFURT (Reuters) – Deutsche Bank, Germany’s largest bank, and state-backed lender BayernLB [BAYLB.UL] have agreed to settle an $810 million lawsuit in connection with residential mortgage-backed securities, or RMBS, that Deutsche sold to BayernLB.
Morgan Stanley to pay $4.2 million to settle overtime pay case
NEW YORK (Reuters) – Morgan Stanley and sales assistants in its wealth management branch system who claimed they were owed overtime pay agreed to a $4.2 million settlement.
Kohl’s profit beats estimates as costs fall
(Reuters) – Department store chain Kohl’s Corp reported a better-than-expected quarterly profit as costs fell, sending its shares up 3.4 percent in premarket trading.
U.S. jury gives SEC quick win in fraud case against Boston adviser
(Reuters) – A Boston federal jury took two hours to decide that a local investment adviser had fraudulently lured his former brokerage customers to his new firm, the U.S. Securities and Exchange Commission said late on Wednesday.
U.S. imported inflation subdued as petroleum, auto prices fall
WASHINGTON (Reuters) – U.S. import prices fell in July as a decline in the cost of petroleum products offset a rebound in food prices, keeping a lid on imported inflation pressures.
Euro yields at record lows as economy falters; stocks up
LONDON (Reuters) – Bond yields dropped to record lows across the euro zone on Thursday and the euro hovered near its weakest in nine months after Germany reported its economy shrank in the second quarter, fuelling expectations of more central bank stim…
Denver event aims to close gap in Walmart’s ‘Made in USA’ push
(Reuters) – Wal-Mart Stores Inc, which has pledged to buy an additional $250 billion in U.S.-made goods over the next decade, is hitting a snag as it tries to meet that promise: Some vendors keen to participate in the initiative complain that after dec…
Euro zone economy grinds to halt even before Russia sanctions bite
BERLIN/BRUSSELS (Reuters) – Euro zone economic growth ground to a halt in the second quarter as Germany’s economy shrank and France’s stagnated.
Cisco to cut another 6,000 jobs as forecast falls flat
(Reuters) – Cisco Systems Inc forecast tepid current-quarter results and said it plans to cut another 6,000 jobs, as the network equipment maker works through a transition toward a new cycle of high-end switches and routers.
Qualcomm denies direct financial links with Chinese antitrust expert
BEIJING (Reuters) – Qualcomm Inc, under investigation for possible monopolistic practices in China, said it had no direct financial links with an antitrust expert sacked from a government advisory post after state media reported he had received payment…
