Fort Washington News
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The Standard & Poor’s 500 Index is approaching the cheapest level ever compared with bonds as Federal Reserve Chairman Ben S. Bernanke’s zero-percent interest rates drive investors and companies from cash.
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Valuations for U.S. equities have been stuck below the five-decade average for the longest period since Richard Nixon’s presidency, a sign investors don’t trust earnings even after a three-year bull market.
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Treasuries and commodities rose for a second day after the Federal Reserve yesterday pledged to keep interest rates low and said it is considering more bond purchases. U.S. stocks retreated from a six-month high, while Europe’s benchmark equity index entered a bull market.
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Bank of America Corp. will pay a record $335 million to compensate Countrywide Financial Corp. borrowers who were charged more for home loans based on race and national origin.
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Johnson & Johnson , the world’s biggest maker of health-care products, was cited by U.S. regulators over violations at a plant where the company suspended over-the-counter drug production earlier this year.
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U.S. stocks fell, after a two-week rally, as Moody’s Investors Service and Fitch Ratings said last week’s summit did little to ease pressure on Europe’s struggling governments and Intel Corp. cut its revenue forecast.
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Stocks, the euro and commodities tumbled as Moody’s Investors Service and Fitch Ratings said last week’s summit did little to ease pressure on Europe’s struggling governments. Intel Corp. led a retreat in technology companies after cutting its fourth-quarter revenue forecast.
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Johnson & Johnson, the world’s largest health products company, must defend a lawsuit claiming it misled investors about quality control-failures at manufacturing plants that led to recalls, a judge ruled.
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Johnson & Johnson , the world’s biggest health products maker, will face more scrutiny from U.S. regulators after its McNeil unit was charged with violating federal laws following multiple recalls in the past year of over-the-counter drugs such as Tylenol.
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Johnson & Johnson’s flood of product recalls last year stemmed from poor management, staffing cuts and breakdowns in integrating the consumer unit it bought from Pfizer Inc., J&J said in court papers.
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