Bank Of America Corporation
In a deal that could be worth more than $8.4B, the bank has agreed to
settle claims brought by state attorneys general regarding certain
risky loans originated by Countrywide Financial. The deal will cover
nearly 400,000 borrowers.
Ebay Inc
The Internet auctioneer plans to cut its global workforce by 10%,
affecting about 1,000 employees and several hundred temporary workers.
The reduction is expected to result in pretax restructuring charges of
approximately $70M to $80M.
General Electric Company
The share price of the industrial and commercial conglomerate, a
bellwether of the U.S. economy, hit its lowest point in more than 11
years as a sell-off pulled down broader markets.
Wachovia Corp
Wells Fargo appears to have the upper hand in the Wachovia acquisition.
The Wall Street Journal reported that a North Carolina court issued a
temporary restraining order preventing Citi from enforcing a claimed
exclusivity agreement.