Wall Street ends higher but biotech selloff weighs
NEW YORK (Reuters) – U.S. stocks ended up on Friday but off their session highs as a late afternoon selloff in the biotechnology sector weighed on the overall market.
U.S. judge OKs class action in e-book suit against Apple
NEW YORK (Reuters) – A federal judge in New York granted class certification on Friday to a group of consumers who sued Apple Inc for conspiring with five major publishers to fix e-book prices in violation of antitrust law.
New York judge unseals guilty pleas in Dewey law firm fraud
NEW YORK (Reuters) – A New York judge on Friday unsealed the records of six former Dewey & LeBoeuf employees who pleaded guilty in connection with accounting fraud at the law firm.
GM expands ignition switch recall to 2.6 million cars
DETROIT (Reuters) – General Motors Co is adding 971,000 cars to its global ignition switch recall, which began in February with 1.6 million vehicles and has been linked to at least a dozen deaths.
PwC is sued for $1 billion over MF Global collapse
NEW YORK (Reuters) – The administrator of MF Global Holdings Ltd’s bankruptcy plan on Friday sued the auditor PricewaterhouseCoopers for at least $1 billion over its advice on a $6.3 billion European sovereign debt investment that helped fuel the broke…
Time Warner Cable rejects Charter’s call to drop Comcast merger
(Reuters) – Time Warner Cable Inc said on Friday it was committed to a deal reached with larger cable operator Comcast Corp in response to calls by Charter Communications that shareholders reject the $45 billion merger.
Morgan Stanley CEO awarded $12 million for 2013 – and that could rise
NEW YORK (Reuters) – James Gorman, Morgan Stanley’s chief executive and chairman, was awarded total compensation of $12 million for 2013, double what he got the previous year, the bank said in its proxy filing on Friday.
BlackBerry revenue plunges 64 percent, shares drop
TORONTO (Reuters) – BlackBerry Ltd reported a smaller-than-expected loss on Friday as new chief executive John Chen slashed costs, but a 64 percent drop in revenue underscored the challenge Chen faces in turning around the struggling smartphone maker.
Caterpillar to face U.S. Senate panel on offshore taxes
WASHINGTON (Reuters) – Caterpillar Inc’s offshore tax strategies will come under scrutiny on Tuesday at a U.S. Senate hearing expected to examine dealings by the world’s largest mining and construction equipment maker in Switzerland, Bermuda and Luxemb…
BMW to invest $1 billion to expand U.S. production by 50 percent
SPARTANBURG, SOUTH CAROLINA (Reuters) – BMW will expand production capacity in the United States by 50 percent and introduce another new offroad model, the German luxury carmaker said on Friday, in what amounts to a $1 billion bet on sport utility vehi…
