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U.S. consumer spending slows; business investment perking up

U.S. consumer spending increased modestly in November as household income failed to rise for the first time in nine months, suggesting the economy slowed in the fourth quarter after growing briskly in the prior period. The slowdown in growth is likely to be temporary given the strong economic foundation that could be bolstered by President-elect

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U.S. consumer spending slows; business investment perking up

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Goldman names former DuPont CEO Kullman to board of directors

(Reuters) – Goldman Sachs Group Inc named former chair and chief executive officer of E.I. du Pont de Nemours and Co Ellen Kullman to its board of directors, according to a filing

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Goldman names former DuPont CEO Kullman to board of directors

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Volkswagen reaches deal with 80,000 U.S. 3.0-liter vehicle owners

A federal judge said on Thursday that Volkswagen AG has reached an agreement in principle to provide “substantial compensation” to the owners of about 80,000 3.0-liter polluting diesel vehicles, a key hurdle to resolve the German automaker's emissions scandal. U.S. District Judge Charles Breyer did not disclose the amount of owner compensation, which

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Volkswagen reaches deal with 80,000 U.S. 3.0-liter vehicle owners

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U.S. sues Barclays, ex-executives for mortgage securities fraud

The U.S. Department of Justice on Thursday sued Barclays Plc and two former executives on civil charges of fraud in the sale of mortgage-backed securities during the run-up to the 2008-09 financial crisis. The lawsuit was filed after Barclays resisted a penalty the U.S. government had sought in settlement negotiations, a person familiar with the matter said. Major U.S. banks, including JPMorgan Chase & Co and Bank of America Corp , have paid tens of millions of dollars to settle …

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U.S. sues Barclays, ex-executives for mortgage securities fraud

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Argentina, creditors agree $155 million more in default settlement: mediator

Argentina settled with an additional 115 individual creditors holding defaulted sovereign bonds for $155 million, Daniel Pollack, the court-appointed mediator in the long-running case, said in a statement on Friday. Pollack's announcement brings the total amount of settlements agreed in principle with U.S. creditors above $6.5 billion and moves Latin America's No. 3 economy closer to ending a festering 14-year legal battled …

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Argentina, creditors agree $155 million more in default settlement: mediator

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BofA raises share buyback by up to $800 million

(Reuters) – Bank of America Corp said its board has authorized share repurchase of up to $800 million, in addition to the $4 billion share buyback announced earlier. The No. 2 U.S. bank by assets said the buyback was meant to offset the share count dilution resulting from equity incentive compensation awarded to retirement-eligible employees.

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BofA raises share buyback by up to $800 million

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Major U.S. banks raise prime rates after Fed rate hike

(Reuters) – Major U.S. banks raised their prime rates, a benchmark for a wide range of consumer and commercial loans, for the first time since 2006 on Wednesday, following a rate hike from the Federal Reserve. Banks including Wells Fargo & Co , JPMorgan Chase & Co and Bank of America Corp raised their prime rates

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Major U.S. banks raise prime rates after Fed rate hike