SanDisk to buy Fusion-io to boost flash storage business
(Reuters) – SanDisk Corp SNDK.O said on Monday it will buy Fusion-io Inc FIO.N for about $1.1 billion to bolster its fast-growing business of providing flash storage drives to companies.
JC Penney interfered with Macy’s deal with Martha Stewart: judge
NEW YORK (Reuters) – JC Penney Co interfered with a contract between Macy’s Inc and Martha Stewart Living Omnimedia Inc when it cut a deal to sell a line of the celebrity’s home goods, a New York judge ruled on Monday.
Wall Street ends up slightly on M&A; Iraq closely watched
NEW YORK (Reuters) – U.S. stocks closed slightly higher on Monday, supported by a flurry of merger news, but turmoil in Iraq drove oil prices up and kept trading choppy.
Pension groups strike back at SEC commissioner’s criticism
WASHINGTON (Reuters) – Public pension and finance groups are striking back at a member of the U.S. Securities Exchange Commission who said last month that state and local retirement systems mislead people about their true financial conditions.
Alibaba discloses powerful partners, reveals slowing growth
BEIJING (Reuters) – Alibaba Group Holding revealed the members of its powerful 27-person partnership and board on Monday, while disclosing that the Chinese e-commerce giant’s growth has slowed from the red-hot pace of recent quarters.
BofA’s Merrill fined for mutual fund overcharges
(Reuters) – Bank of America Corp’s Merrill Lynch unit was fined $8 million and will reimburse $24.4 million to customers to settle allegations that it overcharged more than 47,000 retirement accounts and charities that invested in mutual funds.
City of Miami sues JPMorgan, claims mortgage discrimination
NEW YORK (Reuters) – The city of Miami has sued JPMorgan Chase & Co, accusing the bank of predatory mortgage lending in minority neighborhoods that allegedly caused a wave of foreclosures during the last decade’s housing crisis.
Bombardier lays off staff as new Learjet flight testing delayed
TORONTO (Reuters) – Canada’s Bombardier Inc said on Monday that it has laid off more than 100 staff and let go 110 contract workers in the United States and Mexico due to delays in the flight test program for its all-new Learjet 85 business jet.
BofA to use NY state database to flag illegal payday loans
NEW YORK (Reuters) – Bank of America Corp has become the first big bank to agree to use a New York regulator’s database to ensure it does not process illegal payments from payday lenders to state residents, Governor Andrew Cuomo said on Monday.
Exclusive: Shire hires Citi as braces for takeover bids – sources
LONDON (Reuters) – London-listed drugmaker Shire has hired investment bank Citi as an adviser, expecting to receive takeover approaches following a wave of deals in the healthcare sector, sources familiar with the matter told Reuters.
