SETTLEMENT

FDIC sues Ga.-based law firm Smith Welch & Brittain for legal malpractice

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The Federal Deposit Insurance Corp. (FDIC) has sued a law firm in Henry County, Georgia, and one of its partners, accusing them of professional negligence, legal malpractice and other misconduct related to multi-million dollar real estate loans that contributed to the 2009 collapse of Neighborhood Community Bank (NCB) in Newman.
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Indian

India and Pakistan say peace talks to resume

India and Pakistan said on Thursday they would resume formal peace talks but issues such as militancy and the disputed Kashmir region are likely to slow any progress towards defusing tensions.
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Tribune lenders drop competing bankruptcy plan

A group of lenders has withdrawn its plan for reorganizing newspaper owner Tribune Co, leaving two proposals for ending the company's two-year stay in bankruptcy, according to court documents.
Broadcom CEO Scott McGregor stands in front of the company's logo in Taipei

Broadcom Earnings A Mixed Bag

Company announces a quarterly cash dividend increase while saying its revenue will sink in the first quarter of 2011.

Exclusive: U.S. asks about search fairness in Google/ITA

The U.S. Justice Department's review of Google Inc's planned acquisition of airline ticketing software company ITA Software is focusing on making sure ITA's products remain available, even to Google's rivals, according to a source close to the deal.
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Merill Lynch settles prop trading charges for $10 mln

Bank of America Corp's Merrill Lynch unit has agreed to pay $10 million as part of a settlement with the U.S. Securities and Exchange Commission (SEC) that has accused it of fraudulently misusing customer orders so it could trade for its own benefit.
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Mylan, Pfizer settle patent disputes over Lipitor, Caduet

U.S. generic drug maker Mylan Inc has settled two U.S. patent disputes with global pharma giant Pfizer Inc, which will enable the former to sell the generic versions of cholesterol drug Lipitor and combination blood pressure and cholesterol treatment Caduet.

China to open up yuan cautiously, boost trade

China will carefully open up its yuan to more trading based on market needs and plans to double its level of imports in five years, its commerce minister said on Thursday, as the country liberalizes its economy, now the world's second largest.

Toyota settles Lexus crash lawsuit for $10 mln

World's No.1 automaker Toyota Motor Corp. has agreed to pay $10 million to a family of four people who were killed in a runaway Lexus crash near San Diego last year that prompted a string of recalls of millions of Toyota vehicles.
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Unbacked Money, 40 Years On

2011 will mark 40 years since the United States' government finally stopped redeeming its dollars for gold. That ended over 250 years of formal gold backing for the West's dominant currencies. It also took the entire world off precious-metal money for the first time in 5,000 years of civilization.

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