Trader gets 30 months in prison for $1 billion Apple stock scheme
(Reuters) – A former trader was sentenced to 2 1/2 years in prison on Tuesday for an unauthorized purchase of about $1 billion in Apple Inc stock that eventually led to the demise of financial services firm Rochdale Securities.
Yahoo increases share buyback authorization by $5 billion
SAN FRANCISCO (Reuters) – Yahoo Inc said it has increased its share repurchase authorization by $5 billion and that it planned to offer $1 billion in convertible notes.
JPMorgan says ‘mea culpa’ in $13 billion settlement with U.S.
WASHINGTON/NEW YORK (Reuters) – JPMorgan Chase & Co said it routinely overstated the quality of mortgages it was selling to investors, and it agreed to pay $13 billion to settle related charges with the U.S. government, federal officials said on Tuesday.
50 A380s? We could have bought 10 more, says Emirates
DUBAI (Reuters) – Emirates’ whopping order for 50 of the world’s biggest jets should end doubts about the A380 that have tested the nerve of manufacturer Airbus, the airline’s chief said — adding it was so sure of filling the planes it might have boug…
J&J unit to pay $2.5 billion in U.S. hip implant settlement
NEW YORK (Reuters) – A unit of Johnson & Johnson has agreed to pay an estimated $2.5 billion to settle thousands of lawsuits from individuals allegedly injured by the company’s artificial hip implants, the company announced Tuesday.
ResCap presents creditor payout plan to judge, criticizes bondholders
NEW YORK (Reuters) – A lawyer for bankrupt Residential Capital on Tuesday asked a judge to confirm the mortgage lender’s plan to end its Chapter 11 case and pay back creditors, criticizing “scorched-earth” opposition by bondholders in the opening of wh…
Dow, S&P retreat for second day; Best Buy weighs
NEW YORK (Reuters) – U.S. stocks fell on Tuesday, with the Dow and the S&P 500 retreating further from milestone levels, led by a slide in Best Buy after a disappointing outlook.
U.S. Navy committed to F-35 despite talks about more F/A-18 buys
DUBAI (Reuters) – The U.S. Navy remains committed to the Lockheed Martin Corp F-35 Joint Strike Fighter (JSF) program, but is also looking at options to buy additional Boeing Co F/A-18 fighter jets, a senior U.S. Navy official said on Tuesday.
Devon Energy near $6 billion deal for GeoSouthern: source
NEW YORK (Reuters) – Devon Energy Corp is close to a deal to buy privately held GeoSouthern Energy Corp for around $6 billion, according to a person familiar with the matter.
U.S. lawyer denies bribery at trial in Chevron-Ecuador case
NEW YORK (Reuters) – A U.S. lawyer on Tuesday denied using bribery to win a multibillion-dollar judgment against Chevron Corp in Ecuador, even as the oil company’s lawyer raised tough questions about evidence that he said suggested the payments were ma…
