RBS, S&P sued by European investors for $250 million crisis losses
SYDNEY (Reuters) – Royal Bank of Scotland and rating agency Standard & Poor’s have been sued by a group of European institutional investors for damages of up to $250 million suffered on complex financial products in the lead up to the global financial crisis.
Wall Street groups contest CFTC cross-border guidelines
WASHINGTON (Reuters) – Three Wall Street trade groups sued the U.S. Commodity Futures Trading Commission on Wednesday in hopes of beating back tough overseas trading guidelines they fear could hurt markets and cut profits.
Bank of America settles municipal bond rigging lawsuit
NEW YORK (Reuters) – Bank of America Corp has agreed to pay $20 million to settle a lawsuit in which investors accused it of rigging bids for municipal securities, court papers filed on Wednesday show.
Credit Suisse sells German private bank business: sources
FRANKFURT (Reuters) – Credit Suisse is selling its business serving wealthy customers in Germany to Frankfurt-based Bethmann Bank, sources familiar with the transaction told Reuters on Wednesday.
Billionaire investor Icahn steps up pressure on Apple
SAN FRANCISCO (Reuters) – Billionaire investor Carl Icahn said on Wednesday that he has filed a shareholder proposal with Apple for a much smaller stock buyback plan than he has advocated previously, as he continued to pressure Apple to share more of i…
Dow, S&P 500 drop for fourth straight day; Fed a concern
NEW YORK (Reuters) – The Dow and the S&P 500 finished lower for the fourth consecutive session on Wednesday after investors found few reasons to make big moves, with uncertainty remaining over when the Federal Reserve will start to slow its stimulus.
Electronic filing by taxpayers hits new high: IRS
WASHINGTON (Reuters) – A record-setting 122.5 million U.S. tax returns were filed electronically this year, up from 119.6 million last year, said the U.S. Internal Revenue Service on Wednesday.
Fifth Third settles SEC charges over financial crisis accounting
(Reuters) – Fifth Third Bancorp, a large U.S. midwest regional bank, agreed to pay $6.5 million to settle U.S. Securities and Exchange Commission charges that it accounted improperly for troubled commercial real estate loans during the 2008 financial c…
American Airlines launches repricing effort
NEW YORK (Reuters) – American Airlines is seeking to reprice its $1.9 billion exit financing loan via lead arranger Deutsche Bank, sources told Thomson Reuters LPC. The company aims to reprice the loan to a spread of LIB+300-325, with a 1 percent Libor…
Upbeat U.S. data points to growth momentum
WASHINGTON (Reuters) – U.S. private-sector hiring rose in November at the fastest clip in a year, opening the door wider for the Federal Reserve to start trimming its bond purchases within the next few months.
