Bank of America Corp. and the New York Stock Exchange were among dozens of exchanges, brokerages and traders sued over high-frequency trading by the city of Providence, Rhode Island, over claims they rigged securities markets to divert billions of dollars from buyers and sellers of shares.
Boston Marathon bombing suspect Dzhokhar Tsarnaev’s lawyers, seeking to spare him from the death penalty, lost a bid to force the U.S. to turn over evidence that may show his older brother radicalized him and led the attack.
Columbia University Professor and Nobel laureate Joseph Stiglitz said high-frequency trading gives an unfair advantage to a select group of investors and could be taxed as a way to discourage the practice.
President Barack Obama thanked Kathleen Sebelius for helping pass the 2010 health-care law and named Sylvia Mathews Burwell his new health secretary, calling her “a proven manager” who knows how “to deliver results.”
A U.S. House committee voted to hold former Internal Revenue Service official Lois Lerner in contempt of Congress for refusing to testify about her role in scrutinizing Tea Party groups seeking tax exemptions.