Citi to settle legacy securities claims, incur $100 million charge
(Reuters) – Citigroup Inc said it would pay $1.12 billion in cash to settle legacy securities and other claims and incur a related charge of $100 million in the first quarter.
Wall Street ends lower; S&P 500 in biggest three-day drop since January
NEW YORK (Reuters) – U.S. stocks fell on Monday with the S&P 500 posting its biggest three-day drop in two months, as investors bid down Internet stocks and rotated into defensive names to protect against further declines.
Citi to settle legacy securities claims, incur $100 million charge
(Reuters) – Citigroup Inc said it would pay $1.12 billion to settle legacy securities and other claims and incur a related charge of $100 million in the first quarter.
Ford to recall about 434,000 vehicles
(Reuters) – Ford Motor Co said on Monday it would recall about 434,700 vehicles mainly in North America due to two separate and unrelated issues.
Fed gives banks more time on Volcker rule detail
WASHINGTON (Reuters) – The U.S. Federal Reserve will give banks two more years to divest collateralized loan obligations (CLOs) that fall under the Volcker rule, a part of the Dodd-Frank financial law that bans banks from making a range of risky invest…
U.S. warns China over currency depreciation
WASHINGTON (Reuters) – The United States warned Beijing on Monday that the recent depreciation of the Chinese currency could raise “serious concerns” if it signaled a policy shift away from allowing market-determined exchange rates.
UBS unit must pay $5.4 million to ex-broker who sold Lehman notes: panel
(Reuters) – A unit of UBS AG must pay $5.4 million to a former broker who said the firm misled its advisers about the financial health of Lehman Brothers Holdings Inc while recommending they sell its structured notes to clients, a securities arbitratio…
Boeing cuts final C-17 output by three jets, ends production early
NEW YORK (Reuters) – Boeing Co will produce three fewer of its famed C-17 cargo-carrying military transport planes than expected as it closes the production line, reflecting further decline in demand for the aircraft, the company said on Monday.
IRS whistleblower payouts down, critics say program too slow
WASHINGTON (Reuters) – The U.S. Internal Revenue Service reported it made progress last year in rewarding tax whistleblowers with a few big cash payouts, but critics said the tax agency is still struggling to act quickly on informants’ tips.
Safety group calls for U.S. probe of Chevy Impala air bags
WASHINGTON (Reuters) – General Motors, which has recalled 2.6 million cars for faulty ignition switches that caused air bags to deactivate, may also have a defect in air bags in 2003 to 2010 Chevrolet Impalas, an auto safety watchdog group said on Mond…
