Nasdaq fails to win dismissal of Facebook IPO lawsuit
NEW YORK (Reuters) – A federal judge has rejected Nasdaq OMX Group Inc’s bid to dismiss lawsuits by investors who accused the exchange operator of botching Facebook Inc’s $16 billion initial public offering, a decision released on Monday shows.
JPMorgan blocked probe in Madoff case: government official
NEW YORK (Reuters) – A U.S. Treasury Department watchdog tried to examine whether JPMorgan Chase & Co interfered with a regulatory probe into its relationship with convicted felon Bernard Madoff but the largest U.S. bank was able to nip the inquiry in the bud, a government official said on Monday.
Boeing announces $10 billion buyback, raises dividend
(Reuters) – Boeing Co’s board raised the company dividend about 50 percent on Monday and approved $10 billion in new share buyback authority that the company said it would use in the next two to three years.
Herbalife’s new audit, share rise deal fresh blow to Ackman
BOSTON (Reuters) – Herbalife Ltd on Monday said a new audit yielded no changes to its financial statements, sending its shares up by more than 9 percent and dealing a blow to hedge fund manager William Ackman, who is betting against the stock.
Washington could cut Fannie, Freddie home loan limits
WASHINGTON (Reuters) – The U.S. government could reduce its support for high-cost mortgages as soon as October of next year, a top regulator said on Monday in a statement that amounted to a show of confidence in the housing recovery.
GM CEO Akerson defends tenure as his exit nears
WASHINGTON (Reuters) – Dan Akerson, who will step down as General Motors Co’s chief executive next month, on Monday defended his tenure leading the No. 1 U.S. automaker and said his successor will have to build on the turnaround that he guided.
BlackRock ups stake in Telecom Italia ahead of vote for control
MILAN (Reuters) – BlackRock raised its stake in Telecom Italia to make it the struggling firm’s second-biggest investor ahead of a vote for control, but did not say if it would side with top shareholder Telefonica or rebels fighting the Spanish firm’s …
EU to give itself until mid-2014 to work on reform-for-money plan: draft
BRUSSELS (Reuters) – European Union leaders will give themselves until June next year to work out how governments can sign contracts to conduct reforms and get some form of EU financial support in return, draft conclusions of an EU summit this week sho…
JPMorgan to sell small investment business in Asia
(Reuters) – JPMorgan Chase & Co, which is pushing to simplify operations on its $2.46 trillion balance sheet, has put up for sale its Global Special Opportunities Group, an Asia-based unit that makes investments in mid-sized companies, according to a person familiar with the matter.
Insurer RSA faces tough choices to protect credit rating
LONDON (Reuters) – Troubled insurer RSA may have to sell its best assets, leaving it concentrated in slow-growing markets such as its British home patch, to raise up to 1 billion pounds ($1.6 billion) and safeguard its credit ratings.
