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The lawsuit, brought by Fort Worth Employees’ Retirement Fund and other investors in offerings made before the 2008 financial crisis, accused JPMorgan of misleading them about the underwriting, appraisals and credit quality of the home loans underlying the certificates. The lawsuit said that after Lehman Brothers Holdings Inc failed, the certificates were worth at most 62 cents on the dollar. JPMorgan agreed to a $13 billion settlement with the Justice
LONDON/MILAN (Reuters) – Fiat Chrysler Automobiles (FCA) (FCHA.MI) is considering whether to sell its auto parts maker Magneti Marelli after receiving interest from potential buyers, according to sources familiar with the matter. A recent offer, by a group including a U.S. buyout fund and valuing the business at less than 2.5 billion euros ($2.7 billion), was rebuffed in June as FCA would not agree to sell for less than 3
The lawsuits by the city of Los Angeles and by Cook County, Illinois, which includes Chicago, accused Wells Fargo of steering black and Hispanic borrowers into higher-cost loans, a process sometimes called “reverse redlining”. Los Angeles and Chicago are the second- and third-most populous U.S. cities.
Google’s class A shares chalked up their largest single-day percentage change in more than seven years on Friday. The rise in Google’s market value was more than the total market capitalization of Caterpillar Inc (CAT.N), the world’s biggest construction equipment maker. Google’s shares hit a record high of $703, valuing it at $471.50 billion and cementing its position as the world’s second most valuable company after Apple Inc (AAPL.O).
Japan’s financial watchdog plans to seek a financial penalty on Toshiba Corp , currently being investigated by an independent committee over accounting irregularities, the Nikkei reported on Saturday. The Securities and Exchange Surveillance Commission (SESC) believes the company falsified financial statements and will recommend as early as September that the Financial Services Agency impose a fine, the business daily said, citing sources. An SESC spokesman declined to comment, while Toshiba
The Massachusetts attorney general’s office is examining how Uber and Lyft ensure equal access for people with disabilities, a spokeswoman for the attorney general told Reuters, adding to numerous other business issues facing the two companies. Disabilities rights activists have questioned how Uber Technologies Inc [[UBER.UL] and Lyft drivers handle passengers in wheelchairs and the blind, but the Massachusetts inquiry appears to be the first from an attorney general, opening
Boeing Co (BA.N) said on Friday it will take a $536 million after-tax charge in its second-quarter results to deal with problems in the fuel system on the KC-46A aerial refueling tanker it is developing for the U.S. Air Force. It said added funds were needed to cover higher costs for development, certification and initial production of the tanker aircraft, while keeping the $49 billion, 179-aircraft program on track for
PHNOM PENH, Cambodia (AP) — A Cambodian real estate magnate whose violent assault of a female TV star was captured on video was arrested Saturday, authorities said, in a case that has sparked national outrage.
Filed under: News, Celebrity Homes Getty ImagesAudrey Hepburn was nominated for an Oscar for her role as Holly Golightly in the 1961 film “Breakfast at Tiffany’s.” By Catherine Sherman Courtesy of Peter*Ashe Real Estate via ZillowThe brownstone at 169 E. 71st St. on the Upper East Side. You may remember Audrey Hepburn and George Peppard standing on these front steps. The brownstone featured prominently in “Breakfast at Tiffany’s” has sold
The Galapagos islands are known, of course, for those lumbering, giant tortoises and as the inspiration for Darwin’s theory of evolution. Now they boast another cool distinction: an airport believed to be the only one in the world working exclusively on wind and solar energy. The metamorphosis to an earth-friendly place serving nature-loving tourists could not be more stark, considering that the airport was actually born of war.
