Industry

US bank legal bills total USD103 billion

Six US banks led by JP Morgan Chase & Co. and Bank of America Corp. had piled up a total of USD103 billion in legal costs.


Bank of America settles discrimination lawsuit for USD 160 million

The Merrill Lynch unit of Bank of America corp would pay USD 160 million to settle a discrimination lawsuit filed by African-American financial advisers.

Appeals court rules in favor of National Credit Union Administration for MBS claims

The US Court of Appeals in Denver ruled for the National Credit Union Administration and allowed it to use the extender statute to pursue its claims against big banks regarding MBS.

US restarts alternative vehicle loan program

The United States would be offering loans again through its Advanced Technology Vehicle Manufacturing loan facility.


Latest News

Mongolia would be replacing its 2012 law that puts limits on foreign ownership with a new measure that is more investor-friendly.
Gold prices, after a previous period of decline, is now on the rise, recently topping the USD1,400 level.
India's ONGC Videsh said it would increase its overseas debt to fund a USD2.64 acquisition. ONGC Videsh Ltd. is a state-backed energy explorer in India.
Top Chinese banks had been expecting to win approval for negotiable certificates of deposit worth CNY10 billion.
There were more than 110 China brokerages that would undergo government probe after Everbright Securities made a CNY23.4 billion buy order error.
The Reserve Bank of India would scrutinize pending foreign deals after the steep fall in rupee's value.
The number of Americans who filed for jobless benefit claims fell to a nearly six year low while US manufacturing activity increased this month.
All trading on Nasdaq were halted last Thursday after the stock exchange encountered a technical issue during midday.
Chinese regulators sought confessions from foreign companies regarding any committed antitrust violations and warned them about hiring external lawyers to fight the said accusations.
Hinduja co-chairmen Gopichand and Srichand Hinduja had issued a laudatory statement to the Finance Minister's reassurances.
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