Fed bars shareholder payouts from Citi, four others
WASHINGTON/NEW YORK (Reuters) – The Federal Reserve on Wednesday rejected Citigroup Inc’s plans to buy back $6.4 billion of shares and boost dividends, saying the bank is not sufficiently prepared to handle a potential financial crisis.
Ergen says LightSquared could be worth $8.9 billion
NEW YORK (Reuters) – Dish Network Corp Chairman Charles Ergen, the largest creditor of bankrupt wireless company LightSquared, said on Wednesday he believed LightSquared could be worth as much as $8.9 billion if it gained regulatory approval of its pla…
Candy Crush maker King Digital shares sour in market debut
(Reuters) – Shares in King Digital Entertainment Plc fell as much as 16 percent in their Wednesday debut, underscoring investor concern about the company’s reliance on “Candy Crush Saga” and dampening hopes that its coming-out party could revive invest…
Bank of America to pay $9.3 billion to settle mortgage bond claims
WASHINGTON (Reuters) – Bank of America agreed to pay $9.3 billion to settle claims that it sold Fannie Mae and Freddie Mac faulty mortgage bonds, helping the bank to end one of the largest legal headaches it still faced from the financial crisis.
SEC inches closer to money market fund final rule
(Reuters) – U.S. securities regulators are inching closer to completing new rules for money market funds, though no final decision on how to proceed has been made just yet, according to a person familiar with the matter.
Murdoch sets up sons to take over media empire
LONDON/NEW YORK (Reuters) – Rupert Murdoch has returned eldest son Lachlan to the leadership of his media empire and promoted younger son James, paving the way for the 83-year-old tycoon to pass the reins to the family’s next generation.
Bank of America, ex-CEO Lewis settle NY lawsuit over Merrill
NEW YORK (Reuters) – Kenneth Lewis, who turned Bank of America Corp into the nation’s largest bank but also saddled it with enormous losses tied to mortgages, has settled a lawsuit accusing him of deceiving investors about one of his biggest acquisitions: Merrill Lynch & Co.
S&P wants to split up $5 billion U.S. ratings lawsuit
(Reuters) – Standard & Poor’s asked a federal judge to split up the U.S. government’s $5 billion civil fraud lawsuit accusing it of lying about its credit ratings, saying it would be unfair to have to defend against a case of such “unmanageable scope” all at once.
Boeing sees Latin American market share of at least 50 percent
SANTIAGO (Reuters) – U.S. planemaker Boeing Co is positive it can reach a market share in Latin America of least 50 percent of orders in coming years, a senior regional executive told Reuters on Wednesday.
Ex-MP3tunes chief hit with $41 million copyright verdict
NEW YORK (Reuters) – The former chief executive of defunct online music storage firm MP3tunes was ordered to pay an estimated $41 million on Wednesday after being found liable for infringing copyrights owned by record companies and music publishers onc…
