Allstate, BofA agree to end toxic mortgage lawsuit
NEW YORK (Reuters) – Allstate Corp and Bank of America Corp’s Countrywide unit have agreed to dismiss a lawsuit stemming from $700 million of toxic mortgage debt, according to a court filing on Tuesday.
Untaxed U.S. corporate profits held overseas top $2.1 trillion: study
WASHINGTON (Reuters) – Foreign profits held overseas by U.S. corporations to avoid taxes at home nearly doubled from 2008 to 2013 to top $2.1 trillion, said a private research firm’s report, prompting a call for reform by the Senate’s top tax law write…
Exclusive: Iowa, North Carolina join states studying Experian breach
BOSTON/NEW YORK (Reuters) – Iowa and North Carolina said they are looking into a breach involving a subsidiary of Experian Plc that exposed some 200 million social security numbers, in addition to two states that previously announced investigations.
Goldman Sachs may close dark pool Sigma X: WSJ
(Reuters) – Goldman Sachs Group Inc could shut down Sigma X, one of the world’s largest private stock-trading venues, the Wall Street Journal reported on Tuesday, citing sources.
Australia’s David Jones agrees to $2 billion offer from South Africa’s Woolworths
SYDNEY (Reuters) – Australia’s No.2 department store operator, David Jones Ltd , said on Wednesday it had agreed to a takeover offer from South Africa’s Woolworth Holdings Ltd valuing the company at around A$2.15 billion ($2 billion).
Untaxed U.S. corporate profits held overseas top $2.1 trillion: study
WASHINGTON (Reuters) – Foreign profits held overseas by U.S. corporations to avoid taxes at home nearly doubled from 2008 to 2013 to top $2.1 trillion, said a private research firm’s report, prompting a call for reform by the Senate’s top tax law write…
GM is late delivering ignition switch fix to dealers
(Reuters) – General Motors Co is running two days behind Chief Executive Mary Barra’s plan to begin shipping replacement ignition switches in its massive recall, dealerships and the company said on Tuesday.
U.S. fines GM for not answering recall questions
WASHINGTON (Reuters) – General Motors is being fined $7,000 a day for missing an April 3 deadline to provide information about its recall of 2.6 million cars for defective ignition switches, the National Highway Traffic Safety Administration said on Tu…
Fed policymakers want more clarity on rate-hike plans
ROCHESTER, Minn./PHILADELPHIA (Reuters) – The Federal Reserve needs to be more specific about what economic conditions would prompt it to raise interest rates from current rock-bottom levels, a pair of top Fed officials normally at loggerheads on polic…
Wall Street snaps three-day losing streak as tech rebounds
NEW YORK (Reuters) – U.S. stocks rose on Tuesday, snapping a three-day losing streak as investors bought beaten-down social media and Internet shares.
