A US magistrate judge recommended dismissal of a lawsuit against Bank of America over $850 million in mortgage debt, according to a court filing.» Read More
NEW YORK, June 30- Brent crude fell more than $1 on Monday, nearing $112 a barrel while U.S. crude slipped below $105 as investors grew less worried about potential supply disruptions from Iraq. Heavy fighting in the north of Iraq has had little impact on the southern refineries that produce around 90 percent of the OPEC member's oil shipments.
WASHINGTON, June 26- U.S. consumer spending rose less than expected in May, prompting economists to downgrade estimates for second-quarter growth. Healthcare spending has been volatile with the implementation of President Barack Obama's signature law early this year, but the swings should subside as the year progresses, economists said.
June 25- Bank of America Corp is laying off 540 workers at its loss-making legacy assets and servicing business, which handles delinquent mortgage loans.
NEW YORK, June 22- Bank of America Corp will announce on Monday it will lower the threshold for consumers who qualify for discounts on loans and other benefits as the No. 2 U.S. bank seeks to win more business from existing customers.
Nucor forecast earnings between 35 cents and 40 cents a share, up from 27 cents a share a year earlier. The plant started production in December, and volume has been better than expected but yield needs work, Nucor said. Made from iron ore, direct reduced iron is a raw material used to make steel, and a substitute for scrap, Nucor's traditional feedstock.
WASHINGTON, June 17- U.S. consumer prices recorded their largest increase in more than a year in May as costs for a range of goods and services rose, likely easing the Federal Reserve's concerns that inflation was running too low.
*Payout totals $97.2 million including restitution, fine. June 16- Bank of America Corp's Merrill Lynch unit was fined $8 million and will reimburse $24.4 million to customers to settle allegations that it overcharged more than 47,000 retirement accounts and charities that invested in mutual funds.
*Brent hits six-month high over $112 on Iraq supply worries. NEW YORK, June 12- Oil prices jumped to the highest level this year on Thursday on growing concerns that escalating violence in Iraq could disrupt oil supplies from the second-largest OPEC producer.
*Brent hits 3- month high over $112 on Iraq supply worries. NEW YORK, June 12- Brent crude oil jumped 2 percent to above $112 a barrel on Thursday on mounting concerns that escalating violence in Iraq could disrupt oil supplies from the second-largest OPEC producer.
ASHEVILLE, N.C., June 11- A federal judge on Wednesday said he would consider dismissing a U.S. Department of Justice lawsuit accusing Bank of America Corp of civil fraud in the sale of mortgage securities that soured during the global financial crisis.
*China's commodity imports fall in May on high stocks, tighter credit. NEW YORK, June 9- Brent crude rose on Monday, gaining over $1 to surpass $110 a barrel for the first time in June, while U.S. crude rose by nearly $2, as strong Chinese and U.S. data pointed to healthy economic growth and higher demand for oil from the world's top two consumers.
NEW YORK, June 9- Brent crude rose on Monday, surpassing $110 a barrel for the first time in June and U.S. crude rose also as strong Chinese and U.S. data pointed to healthy economic growth and higher demand for oil from the world's top two consumers.
*Ukraine government vows to continue offensive vs rebels. NEW YORK, May 30- U.S. crude fell more than $1 a barrel on Friday as traders took profit at the end of the month, but remained in the middle of a month-long trading range underpinned by supply worries and strong gasoline demand in the United States, the world's top oil consumer.
*Ukraine government vows to continue offensive vs rebels. NEW YORK, May 30- U.S. crude fell nearly $1 a barrel on Friday as traders took profit at the end of the month, but remained in the middle of a month-long trading range underpinned by supply worries and strong gasoline demand in the United States, the world's top oil consumer.
And, DHL may use Boeing 747 jets on its route from its Cincinnati hub to Miami, replacing 767 s, because of the growing volume of packages heading to and from Latin America, Mike Parra, chief executive of DHL Express for the United States, told Reuters.
WASHINGTON, May 29- A turn higher in U.S. inflation could lead officials at the Federal Reserve to raise interest rates sooner and a bit more aggressively than financial markets expect. "The increase has potential to be more than just a flash in the pan," said Jacob Oubina, senior U.S. economist at RBC Capital Markets in New York.
NEW YORK, May 19- A federal appeals court said Bank of America Corp was not liable to shareholders for allegedly concealing a $10 billion fraud lawsuit by American International Group Inc, whose filing led to a 20- percent one-day plunge in the bank's stock price.
*Producer prices up 0.6 percent, largest rise in 1-1/ 2 years. WASHINGTON, May 14- U.S. producer prices recorded their largest increase in 1-1/ 2 years in April as food prices surged, in a potential sign inflation pressures may be creeping up. The Labor Department said on Wednesday its producer price index rose 0.6 percent, the biggest gain since September 2012.
WASHINGTON, May 7- U.S. nonfarm productivity fell at its fastest pace in a year in the first quarter as harsh winter weather restrained output, leading to a jump in labor-related production costs.
WASHINGTON, May 6- The U.S. trade deficit narrowed in March as exports rebounded, but the improvement was probably not enough to help first-quarter growth. The Commerce Department said on Tuesday the trade gap fell 3.6 percent to $40.4 billion. February's deficit was revised to $41.9 billion from a previously reported $42.3 billion.