A federal judge has approved American International Group Inc's $450 million settlement with rival insurers to end litigation accusing AIG of underreporting premiums on workers' compensation policies.
Visa Inc. (NYSE: V) announced a planned deposit of about $1.6 billion into its litigation escrow account, which also serves as a share buyback under Visa's retrospective responsibility plan.
Taking a page from Judge Jed Rakoff: a month after a Securities and Exchange Commission settlement with Citigroup was rejected, federal judge in Milwaukee pressed the agency to explain its vague deal with a Wisconsin headphones manufacturer.
Why “105” and not a round number?
The Justice Department on Thursday gave the green light for the merger of NYSE Euronext and Deutsche Börse AG, which will create the world's largest stock exchange operator. The deal is still subject to the review of European antitrust authorities who have resisted approval.
Israel has categorically rejected criticism by European members of the UN Security Council of its settlement activities in West Bank and East Jerusalem and growing attacks by extremist settlers on Palestinians.
Bank of America stressed that only Countrywide's practices are at issue in Wednesday's announcement of a settlement for discriminatory mortgage lending practices.
Investigation had revealed that Countrywide had charged higher fees and rates for more than 200,0000 minority borrowers from 2004-2008, in the midst of the housing boom. Some 10,000 borrowers were also pushed in to sub-prime mortgages when others with similar qualifications got standard mortgages.
A late-day buying spree is causing shares in Bank of America (NYSE:BAC) to soar higher than its big bank peers. The rally began just after 3 p.m., shortly after news broke that the financial institution had settled a federal lawsuit regarding a subsidiary's subprime lending practices for $335 million.
Kobe Bryant should have had a prenuptial agreement with his wife, Vanessa Bryant, if he wanted to keep most of his money, legal experts say. But apparently that wasn't the case, and Kobe Bryant's wife, Vanessa, could end up with a massive divorce settlement.
Vanessa Bryant is expected to get millions in her divorce from Lakers player Kobe Bryant, all because the basketball players failed to sign a prenup ten and a half years ago. Instead, California law is on Vanessa's side, with the basketball wife expected to get more than enough for many lifetimes. What will she take from Kobe Bryant?
A San Jose judge has said that Facebook, the largest social-networking site, can be sued by those claiming that its showing advertisements that users' friends like is a violation of California law as it pertains to commercial endorsements.
Spears may want to marry Trawick, but unless father Jamie approves, the marriage will never take place. Under Spears' conservatorship, a controversial ruling giving him full control of his daughter's financial and legal decisions, the singer can't get married, get a divorce or even elope without her dad's permission, which he has yet to give.
Vanessa Bryant's mother has said that the couple didn't sign a prenuptial agreement. And since Vanessa Bryant and Kobe Bryant didn't sign a pre-nup, she is entitled to half his money. That could mean she gets a cool $180 million if the estimated $360 is actually what Kobe Bryant is worth.
Friday's settlement is the fourth involving companies that in some shape or form worked on the Deepwater Horizon with BP, or supplied it with equipment. Previous settlements involved MOEX and Anadarko, BP's partners in the Macondo well, and Weatherford, the company that made the float collar used at the well.
Sen. Maria Cantwell wrote to Attorney General Eric Holder Thursday expressing concern that a nationwide settlement regarding major banks' foreclosure practices should not grant immunity in future investigations into their conduct leading up to the mortgage crisis.
IBTimes interview with relationship blogger Joelle Caputa.
Enforcement officials at the Securities and Exchange Commission will reportedly recommend that the agency appeal a federal judge's November decision rejecting a $285 million settlement with Citigroup.
Morgan Stanley (MS) announced plans to cut 1,600 job globally Thursday. Another axe fell on Wall Street.
Crude oil prices advanced in Europe trade on Thursday, after plunging to their lowest level in more than five weeks in the previous session.
Stock index futures pointed to a higher open on Wall Street Thursday, with futures for the S&P 500 up 0.3 percent, Dow Jones futures up 0.5 percent and Nasdaq 100 futures up 0.5 percent at 0906 GMT.
Enforcement staff of the Securities and Exchange Commission may request the commissioners leading the agency that they appeal last month's rejection by a U.S. district judge of a proposed $285 million settlement with Citigroup, the Wall Street Journal said, citing people familiar with the matter.
