Government mortgage fraud lawsuit against BofA headed to trial
NEW YORK (Reuters) – A U.S. government lawsuit accusing Bank of America Corp of fraud in the sale of billions of dollars of toxic mortgage loans to Fannie Mae and Freddie Mac is on track to go to trial next month after a judge rejected the bank’s bid t…
Citigroup, J.P.Morgan snare $764 million of California GOs
SAN FRANCISCO (Reuters) – Citigroup and J.P.Morgan Securities placed winning bids on Tuesday for a $764 million mix of tax-exempt new money and refunding general obligation debt issued by California in a competitive sale.
Entergy to shut controversial Vermont nuclear plant
HOUSTON (Reuters) – Entergy Corp will shut the Vermont Yankee nuclear power plant, citing high costs tied to regulation and competition from cheap natural gas, bringing to an end a long battle with state politicians and environmentalists seeking to clo…
Exclusive: Nasdaq pricing system focus of SEC outage review – source
WASHINGTON (Reuters) – The U.S. securities regulator is focusing its investigation into the Nasdaq outage on why a system for distributing stock prices and quotes was not robust enough, and believes a spat between exchanges is a distraction, a source f…
Ford says Europe’s car market may take 5-6 years to recover: paper
FRANKFURT (Reuters) – Ford Motor Co’s European chief Stephen Odell expects the European car market could take five to six years to recover, the executive was quoted as saying by a German newspaper.
Wal-Mart offers health benefits to U.S. workers’ domestic partners
(Reuters) – Wal-Mart Stores Inc said on Tuesday it will offer health insurance benefits to domestic partners of its U.S. employees starting next year, following the lead of other major companies.
SEC bars Colorado portfolio manager for duping compliance officer
(Reuters) – The portfolio manager of a Colorado investment advisory firm has been barred from the securities industry for forging documents and misleading his firm’s chief compliance officer to conceal his failure to report hundreds of personal trades,…
JPMorgan’s former ‘London Whale’ supervisor arrested in Spain
MADRID (Reuters) – Spanish police arrested former JP Morgan Chase trader Javier Martin-Artajo on Tuesday as he prepares to fight possible extradition to the United States over a $6.2 billion financial scandal at the United States’ largest bank.
Dubai court dismisses Kuwaiti Sheikh’s $21 million claim against UBS
DUBAI (Reuters) – A Dubai court has dismissed a Kuwaiti sheikh’s $21.4 million claim against UBS AG in which he alleged the Swiss bank failed to pay him for helping it become lead arranger on a $9 billion asset sale by Kuwaiti telecom operator Zain.
U.S. expects six-percent rise in net farm income in 2013
WASHINGTON (Reuters) – Net farm income in the United States will reach $120.6 billion this year, up 6 percent and the second highest since 1973 when adjusted for inflation, the Department of Agriculture said on Tuesday.
