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  • Bank of America settles currency-rigging lawsuit Thursday, 16 Apr 2015 | 12:00 PM ET

    NEW YORK, April 16- Bank of America Corp has settled its portion of a U.S. antitrust lawsuit in which investors accused 12 major banks of rigging prices in the foreign exchange market. Bank of America is the third bank to settle investor claims related to the $5.3 trillion- a-day currency market. Scott& Scott said Bank of America's settlement will "mirror" the earlier...

  • Bubble Wrap owner seals deal for floor cleaning robots Wednesday, 15 Apr 2015 | 8:50 AM ET

    NEW YORK— Sealed Air Corp. is buying Intellibot Robotics LLC in a move to expand its floor cleaning business. Sealed Air plans to make the business part of its Diversey Care division, which focuses on floor cleaning machines. Sealed Air is known for making packaging products such as Bubble Wrap.

  • Bank of America returns to profit as legal costs subside Wednesday, 15 Apr 2015 | 7:16 AM ET

    NEW YORK— Bank of America returned to profitability in the first quarter as the bank was able to move beyond its legal troubles last year. The consumer banking giant said Wednesday that it earned $2.98 billion after payments to preferred shareholders, compared with a loss of $514 million a year earlier. BofA's legal costs for the quarter were $370 million, down...

  • Obama makes new push on middle-class tax proposals Wednesday, 15 Apr 2015 | 3:07 AM ET

    CHARLOTTE, N.C.— President Barack Obama promoted his tax proposals Wednesday while criticizing congressional Republicans who are pushing to repeal the estate tax. At a town hall on working family issues on the day of the IRS filing deadline, Obama said the estate tax only affects about 5,000 families, including just 120 households in North Carolina.

  • The president kicked off the effort Monday with a series of interviews with local television stations in Pennsylvania, Wisconsin, South Dakota, Ohio and Maine. Obama told WGAL in Lancaster, Pennsylvania, that his own proposed middle-class tax cuts would reach 44 million Americans, while the GOP is proposing a $270 billion tax cut that would help only 5,000...

  • Or so says Public Citizen, a leading opponent of President Barack Obama's bid to sign a new trade deal with 11 Pacific rim nations. The first report, " United States of Trade," was issued Thursday by the Commerce Department and the U.S. trade representative. But it shows the value of goods already being exported to countries now in trade talks with the United States.

  • *Nonfarm payrolls forecast rising 245,000 in March. WASHINGTON, April 3- U.S. job growth likely remained solid in March, which should allay fears over recent economic weakness and keep the Federal Reserve on course to start raising interest rates this year. The labor market has largely shrugged off a harsh winter, a buoyant dollar, weaker global demand and a...

  • LOS ANGELES, April 1- McDonald's Corp plans to raise the average pay of about 90,000 U.S. workers to around $10 an hour, but the increase will not benefit workers at the vast majority of the restaurants, because they are operated by franchisees, who make their own wage decisions. Wal-Mart Stores Inc and other retailers have introduced entry-level wage hikes in...

  • BOSTON, March 26- Bank of America Corp will not hold a shareholder vote on its decision to reunite the roles of chairman and chief executive officer, according to the bank's proxy statement filed on Thursday. But both also said they would support Bank of America directors this year after the bank separately adopted a rule change to make it easier for shareholders...

  • March 20- A federal judge rejected Bank of America Corp's request to dismiss a lawsuit in which Cook County, Illinois, accused the lender of targeting black and Hispanic borrowers in the Chicago area with subprime mortgages. District Judge Elaine Bucklo in Chicago said Cook County could pursue allegations that the bank steered minority borrowers into an...

  • WASHINGTON, March 19- The number of Americans filing new claims for unemployment benefits rose marginally last week, indicating the labor market remained on solid footing despite slowing economic growth. Growth has slowed in the first quarter, undercut by a harsh winter, a strong dollar, weaker overseas economies and a now-settled labor dispute at West Coast...

  • *Euro dips under $1.09; ECB to start bond buying next week. The euro fell below $1.09 for the first time since September 2003. "We feel the economy is in a position for the Fed to begin normalizing policy," said Sam Bullard, senior economist at Wells Fargo Securities in Charlotte, North Carolina.

  • FOREX-Dollar jumps after strong U.S. jobs report Friday, 6 Mar 2015 | 10:33 AM ET

    NEW YORK, March 6- The dollar jumped on Friday to an 11-1/ 2 year high against a basket of currencies as news of robust U.S. employment growth bolstered market sentiment that the Federal Reserve was closer to raising interest rates. Before a U.S. employment report on Friday, the dollar had already hit an 11-1/ 2 year high against the euro as interest rate differentials...

  • *Average hourly earnings rise three cents. WASHINGTON, March 6- U.S. employment growth accelerated in February and the jobless rate fell to a more than 6-1/ 2 year low of 5.5 percent, signs that could encourage the Federal Reserve to consider hiking interest rates in June. We think it is on the path to make a rate change in June, "said Sam Bullard, a senior economist at...

  • YOUR MONEY-Is organic chocolate worth the price? Wednesday, 11 Feb 2015 | 3:40 PM ET

    Feb 11- If you plunk down some big bucks for organic chocolate this Valentine's Day, your sweetie may or may not be impressed. Andy Ciordia, owner of The Secret Chocolatier in Charlotte, North Carolina, says consumers are most likely to notice that mass-produced chocolates using a cacao solution taste flatter than those made on a smaller scale and with natural...

  • NEW YORK, Feb 10- The U.S. Department of Justice said on Tuesday that it reached a settlement in its first-ever discrimination case against auto dealers who also finance the purchase of used cars. Two so-called "buy here, pay here" dealerships in Charlotte, North Carolina, Auto Fare Inc and Southeastern Auto Corp, agreed to set aside $225,000 to reimburse...

  • NEW YORK, Feb 3- A federal judge on Tuesday rejected Bank of America Corp's bid to throw out a jury verdict finding it liable for the sale of questionable loans to Fannie Mae and Freddie Mac before the financial crisis, which led to a $1.27 billion civil penalty. He also rejected Bank of America's alternative request for a new trial. The U.S. Department of Justice had...

  • WASHINGTON, Jan 28- The Federal Reserve on Wednesday said the U.S. economy was expanding "at a solid pace" with strong job gains in a signal that the central bank remains on track with its plans to raise interest rates this year. "The committee, in fact, was downright bullish on current economic conditions and the outlook," said Paul Edelstein, director of financial...

  • NEW YORK, Jan 28- Wall Street stocks edged lower on Wednesday while the dollar rose as the Federal Reserve said growth in the U.S. economy was on track despite turmoil in other markets around the world, keeping it on pace to raise interest rates later this year. Concluding their first policy-setting meeting of the year, Fed officials looked past moves made by other...

  • WASHINGTON, Jan 28- The Federal Reserve on Wednesday said the U.S. economy was expanding "at a solid pace" as it largely looked through weakness overseas in a signal that it remains on track to raise interest rates later this year. The U.S. central bank repeated it would be "patient" in deciding when to raise benchmark borrowing costs from zero, where they have been...