Money Market Account News
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Michael Dell’s plan to take his computer company Dell Inc. private may hinge in part on whether he’s able to exploit one of the company’s most valuable assets: as much as $14.2 billion of cash and bonds outside the U.S.
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A federal judge threw out a lawsuit claiming MetLife Inc. unfairly profited from the account of a policy beneficiary, while saying the company-described money- market account the life insurer uses to pay claims has an “inherently deceptive” name.
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The package arrived at Cindy Lohman’s home in Great Mills, Maryland, just two weeks after she learned that her son, Ryan, a 24-year-old Army sergeant, had been killed by a bomb in Afghanistan. It was a thick, 9-inch-by- 12-inch envelope from Prudential Financial Inc ., which handles life insurance for the Department of Veterans Affairs.
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Life insurers are secretly profiting from death benefits owed to the survivors of service members and other Americans.
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In 12 years as a retail financial consultant for Charles Schwab, George Pennock thought he had seen every kind of market. Then, on May 6, he and his 250 clients lived through something new.
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Bank of America Corp., JPMorgan Chase & Co. and three other banks agreed to pay $25 million to New York to resolve some monetary claims over the use of a mortgage database after reaching a $25 billion national settlement over foreclosure practices.
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Bank of New York Mellon Corp. filed a court petition seeking approval of an $8.5 billion settlement with Bank of America Corp. over residential mortgage- securitization trusts.
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Regulators in three U.S. states have started or widened examinations of how life insurers pay beneficiaries after a federal judge described MetLife Inc. ’s marketing of asset accounts as “inherently deceptive,” even as he dismissed the underlying suit against the company.
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Galleon Group LLC co-founder Raj Rajaratnam’s arrest for insider trading in October 2009 made a former Advanced Micro Devices Inc. employee afraid the U.S. suspected him of passing tips to the fund, he said.
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Duke Energy Corp., Ford Motor Co. and General Electric Co. are enticing a growing number of individuals to buy their debt through investments pitched as higher-yield alternatives to checking accounts and money funds.
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