Bank of America Corp. may face billions of dollars more in liability for faulty mortgages if a judge agrees with insurer MBIA Inc. that the lender must buy back loans even if the errors didn’t cause a borrower’s default.
Charles Plosser, president of the Federal Reserve Bank of Philadelphia, said the Fed will probably need to raise interest rates before mid-2013 and that policy makers should have waited to see how the economy performed before pledging to hold rates at record lows for two years.
UBS AG senior bankers are heading to Pebble Beach for a golf tournament with clients as a division of the firm draws criticism after a $2.3 billion trading loss, according to a person familiar with the event.
National Pension Service , South Korea’s biggest state fund, has bought Chevron Corp. ’s stake in Colonial Pipeline Co. in partnership with Kohlberg Kravis Roberts & Co. to diversify its investment portfolio.
The trustee liquidating Bernard Madoff’s firm amended his lawsuit seeking $2 billion from UBS AG, claiming the Swiss bank misled regulators in the U.S. and Luxembourg to help hide Madoff’s Ponzi scheme.
A Delaware judge’s public rebuke of Barclays Plc over conflicts of interest in the sale of Del Monte Foods Co. may become a calling card for boutique advisory firms such as Rothschild and Greenhill & Co.
KKR & Co. and Bain Capital LLC, which earned billions of dollars buying and selling companies, are facing a 25 percent discount in the initial public offering of NXP Semiconductors NV after three years of losses.