Micron posts second-quarter profit, shares rise
SAN FRANCISCO (Reuters) – Memory chip maker Micron Technology Inc posted a larger-than-expected fiscal second-quarter net profit, helped by a strong recovery in chip prices and sending its stock higher.
Bank of America in settlement talks over credit card practices: WSJ
(Reuters) – Bank of America Corp is in talks to may pay more than $800 million to settle allegations by the Consumer Financial Protection Bureau that it forced customers to sign up for extra credit-card products, the Wall Street Journal reported, citin…
Mozilla CEO resigns, opposition to gay marriage drew fire
SAN FRANCISCO (Reuters) – Mozilla Chief Executive Brendan Eich has stepped down, the company said on Thursday, after an online dating service urged a boycott of the company’s web browser because of a donation Eich made to opponents of gay marriage.
Citigroup names McQuade to lead new application to Fed: memo
NEW YORK (Reuters) – Citigroup Inc said on Thursday that Gene McQuade, a bank executive who was retiring to become a director, will lead a new push to win permission from the Federal Reserve to pay higher dividends and buy back stock.
U.S. court voids $920 million DuPont award in Kevlar case
(Reuters) – A federal appeals court on Thursday threw out a $919.9 million jury verdict that favored DuPont Co over the alleged theft of its trade secrets related to a fiber used to make Kevlar bulletproof vests.
Texas tycoons hid $550 million in profits offshore, U.S. tells jury
NEW YORK (Reuters) – Texas tycoons Sam and Charles Wyly employed a labyrinthine system of offshore trusts to conceal stock trades in four companies on whose boards they sat, netting themselves more than $550 million in undisclosed profits, a U.S. gover…
U.S. futures regulator CFTC probing speed traders
WASHINGTON (Reuters) – The U.S. Commodity Futures Trading Commission is investigating high-frequency traders to see if they were breaching the derivatives regulator’s rules, its chief said on Thursday.
Canada high court to hear Chevron in $9.1 billion Ecuador lawsuit
OTTAWA (Reuters) – The Supreme Court of Canada agreed on Thursday to hear an appeal by Chevron Corp of a lower-court decision that said Ecuadorean villagers could pursue in Ontario their $9.51 billion lawsuit for pollution in the Amazon jungle.
Citigroup faces criminal probe for fraud at Mexico unit: source
(Reuters) – Federal authorities have opened a criminal investigation into a $400 million fraud involving Citigroup’s Mexican unit, according to a person familiar with the matter.
ECB ready to print money if ‘lowflation’ lingers too long
FRANKFURT (Reuters) – The European Central Bank opened the door on Thursday to turning on its money-printing presses to boost the euro zone economy and keep inflation from staying too low.
