Verizon Communications Inc., the second-largest U.S. phone company, raised its quarterly dividend by 3 percent to 51.5 cents a share, the sixth consecutive year of increases after wireless bills and customers rose last quarter.
Options traders are charging the biggest premium since March to protect against losses in Chinese companies on signs that a slowdown in the world’s second-largest economy is worse than economists estimated.
Rajat Gupta, the former Procter & Gamble Co. director indicted last year for insider trading, illegally tipped now-convicted hedge fund manager Raj Rajaratnam about P&G’s 2008 sale of Folgers Coffee Co. to J.M. Smucker Co., federal prosecutors said.
Watson Pharmaceuticals Inc., the generic-drug maker, will pay $79 million and Novartis AG’s Sandoz unit will pay $66 million to resolve claims they defrauded U.S. and state governments by causing Medicaid to overpay for drugs.
Federal Deposit Insurance Corp. nominee Thomas Hoenig told lawmakers that large financial firms must be accountable for their own capital and risk-taking and shouldn’t count on government help in the event of a collapse.