BofA-SEC bonus settlement rejected
A federal judge on Monday rejected Bank of America Corp's and the U.S. Securities and Exchange Commission's $33 million settlement over Merrill Lynch & Co bonuses as a contrivance that deprives shareholders of the truth. Read Full Article here.
Obama tries to reinvigorate Wall Street reform
President Barack Obama, marking a year since Lehman Brothers collapsed, urged financial firms on Monday not to fight regulatory reform and called on Congress to pass his proposals by the end of the year. Read Full Article here.
Lilly cutting 5,500 jobs before Zyprexa lapse
Eli Lilly and Co said on Monday it plans to cut 5,500 jobs, or 13.5 percent of its workforce, as it girds for generic competition by 2011 on its Zyprexa schizophrenia drug and Gemzar cancer treatment. Read Full Article here.
Sprint shares soar on T-Mobile USA tie-up talk
Sprint Nextel Corp shares jumped 14 percent on speculation that the No. 3 U.S. mobile service might be bought by Deutsche Telekom even as many analysts said such a deal would be very difficult to pull off. Read Full Article here.
SEC: protecting long-term investors a priority
The first responsibility of the U.S. Securities and Exchange Commission is to protect long-term investors if their interests conflict with short-term traders, the head of the SEC said in a letter revealed on Monday. Read Full Article here.
Intel restructures, senior exec leaves for EMC
Intel Corp, the world's top chipmaker, announced a reorganization of its major product divisions and said an executive who helped run a division that rang up more than half its sales last year left the company. Read Full Article here.
Tax evaders rush to beat amnesty deadline
Rich Americans who have evaded taxes by hiding foreign holdings have about a week to turn themselves in to an Internal Revenue Service amnesty program or gamble they will not be caught. Read Full Article here.