Banking group HSBC has settled a case brought by a fund over losses it suffered during the collapse of fraudster Bernie Madoff's financial empire, potentially paving the way for more claims against fund custodians.
Industry
High-Flying Apple Falls to Earth as Investors Fret Over Taxes
Gravity has taken hold of Apple, and a lot of investors have been smacked on the head. (Reuters) - Gravity has taken hold of Apple, and a lot of investors have been smacked on the head.
Twinkies Maker Hostess Plans to go Out of Business
Hostess Brands Inc, the bankrupt maker of Twinkies snack cakes and loaves of Wonder Bread, is seeking a U.S. court's permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.
Liquidation Deadline Looms for Twinkies Maker Hostess
A standoff between Hostess Brands Inc. and thousands of its bakery workers was heading for a showdown Thursday as both sides declared they would not bend and were set to accept the demise of the historic maker of Twinkies and Wonder Bread.
As U.S. Hesitates, California Pours Billions into Green Energy
California, long the national leader in clean energy policy, is poised to double down on its investments in the sector, with billions in new subsidies set to flow in over the next few years.
Latest News
Ally Financial Inc is nearing a deal to sell its auto financing operations in Europe and Latin America for around $4 billion, with General Motors Co emerging.
Wall Street's post-election sell-off may gather steam in the coming weeks as worries mount about the looming "fiscal cliff" and technical weakness suggests a possible correction ahead.
Bain Capital LLC, the private equity firm co-founded by defeated presidential candidate Mitt Romney, thanked its investors on Thursday for their support and patience over the last year as it confronted "political hyperbole and distortion."
HSBC, Europe's biggest bank, is at the center of an investigation by British tax authorities into leaked data that a newspaper said showed it provided accounts in the tax haven of Jersey for alleged criminals.
Stocks fell on Thursday as worries about lawmakers finding a timely solution to the "fiscal cliff" outweighed stronger-than-expected economic data.
The trade deficit unexpectedly narrowed in September as exports rose sharply, suggesting global demand for U.S. goods was holding up despite a debt crisis in Europe.
Private equity firm Carlyle Group LP on Thursday said the United States remained the world's best place to invest, citing low interest rates and the recovering housing market, as it reported a return to profitability in the third quarter.
Apollo Global Management Chief Executive Leon Black said on Wednesday that a U.S. tax break that benefits private equity and venture capital executives could fall victim to deficit reduction efforts after President Barack Obama's re-election.
A lawyer for Goldman Sachs urged a U.S. appeals court Wednesday to send a former employee's gender discrimination dispute to arbitration rather than allow her to proceed with a proposed class action.
