Bank of America’s Merrill to pay $132 million in SEC case over mortgages
(Reuters) – Bank of America Corp has agreed to pay $131.8 million to settle U.S. Securities and Exchange Commission charges that its Merrill Lynch unit misled investors about mortgage securities it structured and sold.
Jury for SAC’s Steinberg hears origins of Dell tips
NEW YORK (Reuters) – A former asset management firm analyst testified Thursday that he received detailed tips from a friend at Dell Inc, giving prosecutors a link to show how SAC Capital Advisors portfolio manager Michael Steinberg obtained inside info…
Insight: China CCTV Starbucks report set off storm inside network
BEIJING (Reuters) – A China state television investigative report accusing Starbucks of overcharging local customers for coffee triggered enormous disquiet among journalists at the network and even some soul-searching after it aired.
GM ties up loose ends as reign of new CEO nears
DETROIT (Reuters) – General Motors Co checked off items from its to-do list as the era of a new chief executive approaches, with the automaker announcing on Thursday that it has sold the stake in its former finance arm and in its French auto partner.
Mexico Congress approves biggest oil sector shake-up in decades
MEXICO CITY (Reuters) – Mexico’s Congress on Thursday passed a landmark energy reform to open up the country’s ailing energy sector to private investment, in what marks the biggest shake up of the ailing state-run industry in 75 years.
Compensation for new GM CEO Barra not yet determined: filing
DETROIT (Reuters) – Compensation for Mary Barra, who will become General Motors Co chief executive on January 15, has not yet been determined, the automaker said in a U.S. regulatory filing on Thursday.
U.S. authorities near deal with JPMorgan on Madoff violations
NEW YORK (Reuters) – JPMorgan Chase & Co is working with criminal and regulatory authorities on settlements over the bank’s relationship with convicted Ponzi schemer Bernard Madoff, ones that would involve $2 billion in penalties and a rare criminal action, according to sources familiar with the matter.
Solid U.S. retail sales boost economic outlook
WASHINGTON (Reuters) – U.S. retail sales rose solidly in November, adding to signs of a strengthening economy that could draw the Federal Reserve closer to reducing the pace of monetary stimulus.
American Air orders regional jets worth about $4 billion
(Reuters) – American Airlines Group Inc said on Thursday it ordered 90 regional jets from Embraer SA and Bombardier Inc in deals worth about $4 billion at list prices as it upgrades to a more efficient fleet to lower operating costs.
Cisco cuts long-term revenue, earnings target
NEW YORK (Reuters) – Cisco Systems Inc on Thursday cut its longer-term earnings and revenue growth targets due to problems in emerging markets, conservative customer spending and stalling growth in its core business of network equipment, the latest in …
