Debevoise & Plimpton LLP named Mary Beth Hogan co-chairwoman of the firm’s litigation department, replacing Mary Jo White, who was confirmed by the U.S. Senate last month to lead the Securities and Exchange Commission.
Fraudulent claims for asbestos exposure are shortchanging companies and legitimate victims, former judge and McCarter & English attorney Peggy L. Ableman testified today in support of legislation aimed at curtailing false claims on an estimated $30 billion in assets.
Owens Corning Inc., the largest U.S. maker of insulation, rose the most in eight months in New York after posting first-quarter profit and sales that topped analysts’ estimates and increasing its earnings forecast.
Building-supply stocks such as USG Corp., in which Warren Buffett holds a 16 percent stake, and Eagle Materials Inc. that more than doubled last year are poised to rise further as the U.S. housing market extends its recovery.
Chrysler Group LLC is hiring more than 1,100 new workers at its sprawling Toledo, Ohio, manufacturing complex. JPMorgan Chase & Co. is looking for hundreds of bankers in Columbus. And the Cleveland Clinic has been adding registered nurses at such a clip that it rented out the Cleveland Browns football stadium for a job fair.
Companies that faced the biggest pension deficits ever last year are narrowing the gap at a record pace as gains in assets and a rise in corporate bond yields in March trimmed liabilities last quarter.
U.S. stocks rose, rebounding from the biggest drop since February, as higher-than-estimated earnings and the Federal Reserve’s pledge to keep interest rates at a record low overshadowed a downgrade of Spain’s debt rating.