UBS ruled not liable to U.S. shareholders for rogue trader
NEW YORK (Reuters) – U.S. securities laws have their limits and do not justify making UBS AG liable to shareholders for touting its ability to control risk even as it harbored a rogue trader who caused $2.3 billion of losses, a federal judge ruled on F…
RBS says did not mislead investors in $6.5 billion lawsuit defense
LONDON (Reuters) – Royal Bank of Scotland said it and its former bosses might have made bad business decisions in the past but that did not mean they misled investors or acted illegally, as the bank defended itself against a 4 billion pound (US$6.5 bil…
Boeing leases more South Carolina land as jet programs ramp up
CHARLESTON, South Carolina (Reuters) – Boeing Co has obtained a $1-a-year lease for another large tract of state land near its factory in South Carolina that will nearly double the amount expected for a planned expansion, a spokeswoman for the plane ma…
Wall St. ends flat; falls for week with eyes on Fed
NEW YORK (Reuters) – Stocks ended Friday’s session little changed after a three-day drop, but logged their worst week in nearly four months on concern that the Federal Reserve could signal the start of a reduction in its stimulus program at its policy-…
U.S. judge approves retail credit card fee settlement
NEW YORK (Reuters) – A U.S. federal judge on Friday approved an estimated $5.7 billion class action settlement between merchants and Visa Inc and MasterCard Inc over credit card fees despite objections from thousands of retailers who complained it was …
U.S. rests its case in insider trading trial of SAC’s Steinberg
NEW YORK (Reuters) – The government rested its case on Friday after four weeks of testimony in the insider trading trial of SAC Capital Advisors portfolio manager Michael Steinberg, sending the proceeding toward what is expected to be a swift resolutio…
Toyota to start settlement talks for acceleration cases
(Reuters) – Toyota Motor Corp will begin talks to potentially settle hundreds of lawsuits alleging that defects caused some of its vehicles to unexpectedly accelerate, according to a court filing.
Union head says Boeing contract offer not much improved
OLYMPIA, Washington (Reuters) – Machinist union leaders rejected a second contract offer from Boeing Co, which would have secured work on the new 777X jetliner for the Seattle area, because it differed little from an offer that union members had alread…
Charter readies Time Warner Cable bid below $135 per share: source
NEW YORK (Reuters) – Charter Communications Inc is preparing to send an offer letter to acquire Time Warner Cable Inc as soon as next week, a source close to the matter said on Friday.
U.S. Supreme Court agrees to weigh bank fraud case
WASHINGTON (Reuters) – The U.S. Supreme Court on Friday agreed to decide what federal prosecutors need to prove in order for someone to be convicted of bank fraud under federal law.
