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BofA settlement: $9.5B to settle Fannie Mae and Freddie Mac claims

BofA settlement: $9.5B to settle Fannie Mae and Freddie Mac claims

March 27 (UPI) -- Bank of America to pay $6.3 billion to Fanny Mae and Freddie Mac, and repurchase residential mortgage-backed securities worth $3.2 billion.
Danielle Haynes

Bankrupt Detroit reaches deal with two key banks

DETROIT, March 4 (UPI) -- Detroit has reached a deal with two banks that could go a long way to resolving the bankrupt city's financial problems, court documents show.

Pressure on wages is not there and raises are thin

WASHINGTON, Feb. 8 (UPI) -- When job gains are slow, raises for U.S. workers are sluggish, the Labor Department's January Employment Situation report indicated.

Markets plunge Friday on jitters over earnings, emerging markets

NEW YORK, Jan. 24 (UPI) -- U.S. stock indexes plunged for a second consecutive session Friday, with concerns ranging from lackluster corporate earnings to stalled manufacturing in China.

Judge rejects Detroit deal with BofA and UBS

DETROIT, Jan. 17 (UPI) -- A federal judge warned Detroit to stop making hurried and unwise financial decisions, rejecting a payoff of two major banks as too expensive.

FHFA settlements for 2013 reached $7.9 billion

WASHINGTON, Jan. 2 (UPI) -- The U.S. Federal Housing Finance Agency said Thursday it had collected $7.9 billion in settlements from financial firms in 2013.
China's local government debt soars

China's local government debt soars

BEIJING, Dec. 31 (UPI) -- China's local government debt jumped to 17.7 trillion yuan ($2.95 trillion) by mid-year, up 12.7 percent from December 2012, its National Audit Office said.
Hilton hikes price to $2.4 billion in the largest ever hotel IPO

Hilton hikes price to $2.4 billion in the largest ever hotel IPO

Dec. 2 (UPI) -- Hilton hikes its initial public offering, to be the largest hotel IPO ever and possibly the second largest IPO of the year.
Sonali Basak
Twitter shares open 73 percent higher than asking price

Twitter shares open 73 percent higher than asking price

NEW YORK, Nov. 7 (UPI) -- Shares of Twitter topped $50 per share Thursday after opening 73 percent above the initial asking price of $26 on the New York Stock Exchange.
Twitter plans $1B stock market launch under TWTR symbol

Twitter plans $1B stock market launch under TWTR symbol

NEW YORK, Oct. 4 (UPI) -- Twitter Inc. plans a $1 billion stock market launch under the TWTR ticker symbol, but the U.S. online messaging service revealed it has never turned a profit.

British lawmaker questions BofA executive's Libor testimony

LONDON, Sept. 24 (UPI) -- A British lawmaker said a Bank of America executive was less than forthright in his testimony regarding manipulation of a critical benchmark lending rate.

The almanac

UPI Almanac for Saturday Sept. 14, 2013.
By United Press International
Bank of America to review long-hours culture after intern's death

Bank of America to review long-hours culture after intern's death

LONDON, Aug. 23 (UPI) -- Bank of America Merrill Lynch said it will review its culture of long hours following the death of a German intern this week in its London office.

Sudden death of bank intern in London sparks talk of overwork

LONDON, Aug. 20 (UPI) -- The sudden death of a student working as an intern at Bank of America Merrill Lynch in London has led to Internet speculation he worked punishing hours.

Bank of America to absorb Merrill Lynch

CHARLOTTE, N.C., Aug. 17 (UPI) -- Bank of America Corp. says it can absorb Merrill Lynch & Co. into its corporate structure by the end of the year while keeping it as a separate brand.

SEC unlikely to bring charges against Magnetar Capital

WASHINGTON, Aug. 7 (UPI) -- The U.S. Securities and Exchange commission will not pursue fraud charges against hedge fund Magnetar Capital, sources told The Wall Street Journal.
White House: Time appropriate for Obama to refocus on economy

White House: Time appropriate for Obama to refocus on economy

WASHINGTON, July 22 (UPI) -- President Obama believes it is appropriate to look broadly at the state of the U.S. economy and the path the country should take, the White House said Monday.

Banks accused of colluding to protect Euro credit derivatives revenue

BRUSSELS, July 1 (UPI) -- Antitrust regulators in Europe charged 13 large banks Monday with colluding to prevent new competitors from entering the credit derivatives market.

Wall Street wary of Fed move

NEW YORK, June 27 (UPI) -- News the U.S. Federal Reserve could wind down its quantitative easing prices next year has economists debating the repercussions, some approvingly, some not.

Judge approves $2.43 billion Bank of America settlement

NEW YORK, May 4 (UPI) -- A federal judge in New York approved a $2.43 billion settlement to end claims Bank of America misled shareholders when it purchased Merrill Lynch & Co.

UPI NewsTrack Business

Markets close higher with late push ... BofA pegged as a lawsuit risk ... Bank of Japan takes bold step ... ECB leaves monetary policy intact ... News from United Press International.
BofA pegged as a lawsuit risk

BofA pegged as a lawsuit risk

NEW YORK, April 4 (UPI) -- Banking analysts said U.S. financial giant Bank of America remains at risk for lawsuits, as a federal judge is poised to consider a $2.4 billion settlement.

UPI NewsTrack Business

S&P within sight of a record close ... Fed OKs capital plans at 14 banks ... Sun Belt cities growing again ... For one at UBS, a $26M payday ... News from United Press International.
For one at UBS, a $26M pay day

For one at UBS, a $26M pay day

GENEVA, Switzerland, March 14 (UPI) -- Swiss bank UBS says it paid the new head of its investment unit $26 million to make up for the deal he left behind at Bank of America Merrill Lynch.

Venezuela reforms at risk from transition

CARACAS, Venezuela, March 7 (UPI) -- Venezuela's economic reforms program is at risk of becoming more lopsided than it is at present as national attention rivets on mourning Hugo Chavez.
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