J.C. Penney says Macy’s lawsuit unlikely to impact results
(Reuters) – Department store J.C. Penney Co Inc said it does not expect the outcome of its pending lawsuit with retailer Macy’s Inc over a home products deal with Martha Stewart Living Omnimedia Inc to have a material adverse impact on its results.
Yellen’s 6-month comment parroted market view: senior Fed official
WASHINGTON (Reuters) – Federal Reserve Chair Janet Yellen was likely just repeating the views of private analysts and investors when she said the central bank could raise interest rates around six months after ending its massive bond-buying program, a …
Wall Street ends lower as biotechs fall; indexes up for week
NEW YORK (Reuters) – U.S. stocks slipped on Friday, as investors booked profits in momentum names heading into the weekend, wiping out early gains that had pushed the S&P 500 to an intraday record high.
U.S. judge OKs JPMorgan $218 million Madoff class-action settlement
NEW YORK (Reuters) – A federal judge on Friday gave final approval to JPMorgan Chase & Co’s $218 million settlement to resolve class-action litigation accusing the largest U.S. bank of playing a central role in the huge Ponzi scheme of former client Bernard Madoff.
Fed’s Kocherlakota: Don’t raise rates to head off possible crisis
WASHINGTON (Reuters) – Raising interest rates to head off a potential financial crisis is simply not worth it, a top Federal Reserve official said on Friday.
Exclusive: Boeing U.S. tanker program seen $1 billion over budget
WASHINGTON (Reuters) – The U.S. Air Force on Friday estimated that Boeing Co’s development of a new refueling plane will cost nearly $1.1 billion more than initially planned, but the terms of the government’s contract mean Boeing must cover the added c…
Credit Suisse to pay $885 million in FHFA mortgage fraud case
NEW YORK/ZURICH (Reuters) – Credit Suisse Group AG has agreed to pay $885 million to resolve claims by a U.S. regulator that the Swiss bank misled Fannie Mae and Freddie Mac into buying mortgage-backed securities that later went sour.
Sprint cuts jobs, closes stores as part of broader plan
NEW YORK (Reuters) – Sprint Corp cut 330 jobs and closed 55 stores around the country this week, as part of an ongoing plan to shrink its workforce in 2014, Cnet.com reported.
Fiat Chrysler plans seven new Alfa models by 2018: magazine
FRANKFURT/MILAN (Reuters) – Fiat Chrysler Automobiles (FCA) will unveil seven new Alfa Romeo models and push to increase sales of the sports car brand fivefold, Germany’s Auto Bild magazine reported on Friday.
U.S. consumer agency to focus on workplace diversity, fairness
WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau said on Friday it is increasing efforts within the agency to create a more diverse and fair work environment following concerns about discrimination.
