IBT Staff Reporter

65221-65250 (out of 154947)

BofA loses bid to end HAMP mortgage lawsuit

Bank of America Corp lost its bid to dismiss a lawsuit accusing it of reneging on promises to help borrowers modify their mortgage loans under a much-criticized federal program.

Morgan Stanley Smith Barney loses client data CDs: report

Brokerage Morgan Stanley Smith Barney, a joint venture between Morgan Stanley and Citigroup , said personal information of 34,000 investment clients stored on two CDs was lost in transit to a government office last month, the Wall Street Journal reported citing a company spokesman.

Murdoch defends papers as Cameron pledges hacking probe

Rupert Murdoch promised full cooperation on Wednesday to resolve a scandal shaking his media empire after British Prime Minister David Cameron promised an inquiry into what he called disgusting phone hacking by a newspaper.

Samsung estimates Q2 profit down 26 pct

Samsung Electronics, the world's top maker of memory chips and televisions, estimated April-June operating profit would fall 26 percent, as its LCD display business is widely expected to report another loss.

'Don't Ask, Don't Tell' Repeal: Federal Appeals Court Issues Order Blocking Policy

A federal appeals court initiated an order Wednesday blocking the don't ask, don't tell policy in the military today. The 9th U.S. Circuit U.S. Court of Appeals said that the process of repealing the policy is well underway, and the preponderance of the armed forces are expected to have been trained by mid-summer on new procedures.

LPS CEO resigns due to health concerns

Lender Processing Services Inc said its Chief Executive Jeffrey Carbiener resigned due to medical reasons, adding uncertainty at a time when the company is facing various legal and regulatory challenges.

Goldman took biggest loan in Fed emergency program

Goldman Sachs, Lehman Brothers, and European banks RBS and UBS were the biggest beneficiaries of very short-term Federal Reserve loans extended at the height of the financial crisis, according to data released on Wednesday.

EU slams ratings agencies after Portugal downgraded

European politicians accused credit rating agencies on Wednesday of anti-European bias after Moody's downgrade of Portugal's debt to junk cast new doubt on EU efforts to rescue distressed euro zone states without debt restructuring.

Merrill ordered to pay hedge fund firm $64 million

An arbitration panel ordered a Merrill Lynch clearing unit to pay $63.7 million in damages to California hedge fund manager Rosen Capital Partners LP as compensation for losses during the 2008 financial crisis.

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