The lender must pay settlement for its misconduct in selling securities backed by troubled mortgage in 2008. The agreement reached Monday.
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US March budget deficit increases to $108 billion
The US government faced a steady increase in March budget scarcity, leading to a higher deficit in the first half year period compared to the previous year period.
Energy stocks propels Wall Street profits following oil price rally
Wall Street ended higher on Tuesday trading session as energy stocks rallied helped by increasing crude prices. The US crude prices reached its new height in 2016.
San Fransisco and Dallas Fed President Expected to See Interest Rate Hike Soon
Two other Fed presidents suggested the US central bank to raise interest rate. San Fransisco's John Williams said two or three rate hike in 2016 is reasonable. While Dallas' Rob Kaplan reminded to be patient.
Planning For Output Cap in Oil Production Amid Rising Oil Prices Surprises Analysts
Crude oil prices have been witnessed to drop a little after hitting the four-month high, but still manage a few profits for the Asian oil producers. Amid such market situations, oil producers including Russia and Saudi Arabia have reached a consensus for putting cap on oil production. The output cut decision has surprised the analysts since increased market price naturally boosts up production.
Latest News
The decision was announced on Tuesday. California administrative law judge recommended to approve acquisition of Time Warner Cable by Charter Communications with significant conditions.
Uber revealed that it has received too much data request from US law enforcement agencies and regulators. The company has provided information on its riders and drivers for most requests after reviewing its legal framework.
Global food delivery service Deliveroo is expanding further in Australia and will soon launch in Brisbane as its third city the country. The expansion came after experiencing a sustained growth in its first two cities since it launched in Australia on November last year.
GM has been sued with more than 400 lawsuits over defective ignition switches, of which six have been chosen as bellwether cases. Just after settling the Yingling case last week, the automobile maker has own verdict of another suit in its Favor on Friday. The remaining two damage claims for casualties are expected to get ended by this year.
The 2016 base pay for Marc Benioff, chief executive officer of Salesforce, will be similar to that of 2015, following investors' complaints regarding his huge pay package in 2015.
Honda, the Japan-based automaker, widened its sales portfolio to a robust 4,500 touch points from nearly 800 outlets. Honda's market share increased to 26% from 15% at the end of March 2011.
Saudi Arabia just got a negative rating from Fitch, from AA to AA-. The downgrade is due to the oil-rich kingdom's decision to slash its average oil price assumptions from $35 to $45 a barrel for 2016 and 2017.
The acquisition of Greybull Capital of Tata Steel's UK long product business will save thousands of jobs and was accepted by the steelworkers after two years of uncertainty.
Dell is mulling over an initial public offer (IPO) for its recently acquired SecureWorks. Dell is also planning to spin off SecureWorks after the IPO which is expected to enhance the valuation of SecureWorks from $154.9 million $1.4 billion.
