Morgan Stanley to pay $275 million penalty for misleading RMBS investors
NEW YORK/WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said on Thursday it had charged Morgan Stanley with misleading investors about two residential mortgage-backed securities it issued before the 2008 financial crisis, and that t…
Wal-Mart replaces head of struggling U.S. business
(Reuters) – Wal-Mart Stores Inc replaced its U.S. head Bill Simon with Asia chief Greg Foran as it seeks to restore the fortunes of its largest business after a year of sluggish sales.
U.S. airlines focus on investor returns as industry profits
(Reuters) – Major U.S. airlines posted earnings gains on Thursday, aided by higher airfares and summer demand, and the two largest carriers announced moves to return more cash to investors.
GM’s profit falls on recall costs, victims’ compensation fund
DETROIT (Reuters) – General Motors Co reported a much lower second-quarter profit on Thursday due to numerous recalls and the expected cost of at least $400 million for a compensation fund for those killed or injured by a defective ignition switch link…
Global economy starts second half on solid footing: PMIs
(Reuters) – China’s factory activity expanded at its fastest in 18 months in July, while the euro zone’s private sector also perked up, but the pace of U.S. manufacturing expansion slowed.
Bank of America to pay $16.6 million to resolve U.S. sanctions violations
WASHINGTON (Reuters) – Bank of America Corp’s banking unit agreed to pay $16.6 million to resolve allegations that it processed several hundred transactions for drug traffickers who are subject to U.S. sanctions, the U.S. Treasury Department said on Th…
Record North America profit boosts Ford results; shares rise
DEARBORN Mich. (Reuters) – Ford Motor Co reported second-quarter operating earnings that beat expectations thanks to record profit in North America, boosting its shares more than 1 percent in early trading.
U.S. factory activity expands in July: Markit
NEW YORK (Reuters) – The U.S. manufacturing sector expanded in July, though the pace of expansion eased as new orders and employment also grew at slower paces, an industry report showed on Thursday.
Caterpillar posts higher second-quarter profit; sales fall
(Reuters) – Caterpillar Inc reported higher-than-expected second-quarter earnings on Thursday but said sales fell as a continued slump in the global mining industry offset a rebound in the North American building sector.
3M profit rises 6 percent, sales up across businesses
(Reuters) – 3M Co posted a 6 percent rise in quarterly profit on Thursday, helped by broad sales growth across the U.S. manufacturer’s range of businesses.
