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New York’s attorney general is filing a civil lawsuit against Credit Suisse for misleading investors who lost billions of dollars due to mortgage-backed securities, reports reuters.com. Read: SEC charges J.P. Morgan, Credit Suisse with misleading investors The lawsuit is expected to be filed tomorrow. It alleges that Credit Suisse misrepresented the quality of loans packaged […]
Several U.S. banks, including Ally Financial, Bank of America, JPMorgan Chase, Citigroup and Wells Fargo, are providing billions of dollars in mortgage relief to homeowners, reports ft.com. Read: Vik’s Pick: Slow and steady U.S. hops over Canada The move comes as part of a settlement with regulators earlier this year, and is aimed to help […]
Banks with extensive capital markets operations are expected to cut costs further, says a Fitch Ratings report.
Equity investors have flocked to high dividend-paying stocks in recent years, but how they're taxed in the U.S. may soon change.
It’s a tough time to be in equities, but the safe harbour of bonds is not looking much better, reports The Globe and Mail.
U.S. regulators on Thursday accused a former Goldman Sachs Group trader of defrauding the bank of $118 million, reports Reuters. The lawsuit was filed in Manhattan, with the CFTC saying Matthew Marshall Taylor entered fake trades in November and December 2007, in an attempt to conceal an $8.3 billion position in futures contracts. The CFTC […]
International lenders failed to bridge differences on how to reduce Athens’ burgeoning debt levels, reports Financial Times.
Star Wars creator George Lucas recently sold his franchise to Disney in a $4.05 billion cash deal. Many estate planning experts are calling the “move worthy of a Jedi Master,” reports marketwatch.com. None of Lucas’s three adopted children wanted to take over the empire, so the strategy will save them the hassles of managing their […]
The Federal Court has ruled Standard & Poor’s misled investors when it gave complex and risky products AAA ratings, reports Financial Review. Now, S&P could be faced with many more lawsuits in the Netherlands, U.S., UK, and New Zealand. And as a result of the ruling, ratings agencies around the world could end up paying […]