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JPMorgan ends WaMu disputes with FDIC, to receive $645 million

JPMorgan Chase & Co on Friday said it will receive $645 million in a settlement of litigation with the Federal Deposit Insurance Corp and Deutsche Bank AG arising from its purchase of Washington Mutual Inc's banking operations during the financial crisis in 2008. According to a regulatory filing, JPMorgan will collect the cash payment from the estate of Washington Mutual Bank, for which the FDIC acts as receiver.

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JPMorgan ends WaMu disputes with FDIC, to receive $645 million

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SolarCity slashing costs, including CEO pay

SolarCity Corp on Wednesday said it would cut operating costs, including slashing its chief executive's salary, to bring expenses in line with its reduced solar installation outlook. The company said Chief Executive Officer Lyndon Rive and his brother, Chief Technology Officer Peter Rive, had asked to have their annual salaries reduced to $1

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SolarCity slashing costs, including CEO pay

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Revenue growth lifts UPS profit, confirms 2016 outlook

By Nick Carey CHICAGO (Reuters) – United Parcel Service Inc reported a higher quarterly net profit on Friday that met analyst expectations as revenue grew across its business units, and the company reaffirmed its full-year earnings outlook despite global economic uncertainty. Like other package delivery companies, UPS has benefited from a rapid rise in ecommerce, but has also struggled to bring down the extra costs associated with making stops at individual residential addresses rather than at businesses. …

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Revenue growth lifts UPS profit, confirms 2016 outlook

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Oil rally to resume later this year, demand to offset glut: Reuters poll

A survey of 29 economists and analysts forecast Brent crude will average $45.51 per barrel in 2016, up marginally from last month's forecast of $45.20, and about $3.55 higher than the $41.96 average so far this year.     “We project solid global demand growth in 2016 (1.4 million barrels per day), and a reasonable growth in 2017 (+1.1 MMBbl/d), mostly driven by China, India and Africa. As such, demand should help to drive prices higher,” said Raymond James analyst Luana Siegfried.

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Oil rally to resume later this year, demand to offset glut: Reuters poll

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Credit Suisse to create U.S. banking business for billionaire

Credit Suisse Group AG , which exited its U.S. private wealth business last year, is building out a new investment banking group in the region to serve billionaires. Switzerland's second-biggest bank has hired Charlie Buckley from rival UBS Group AG to work with

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Credit Suisse to create U.S. banking business for billionaire

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Global investment banks have slowest first half since 2012

By Anjuli Davies LONDON (Reuters) – Global investment banking fees fell by nearly a quarter in the first half of 2016 from a year earlier as market volatility hit capital markets and M&A deal making, Thomson Reuters data published on Monday showed. Global fees for services ranging from merger and acquisitions advisory services to…

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Global investment banks have slowest first half since 2012

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Exxon CEO back at Russia shindig after hiatus over Ukraine: sources

By Denis Pinchuk MOSCOW (Reuters) – Exxon Mobil Chief Executive Rex Tillerson is to attend a major investment forum in Russia this week, two industry sources said, ending a two year absence from the event that began when sanctions were imposed on Russia over the crisis

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Exxon CEO back at Russia shindig after hiatus over Ukraine: sources

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Exclusive: EU set to clear unconditionally Marriott, Starwood deal – source

U.S. hotel chain Marriott International is on track to win unconditional EU antitrust approval for its cash and share purchase of Starwood Hotels and Resorts Worldwide Inc , a person familiar with the matter said on Tuesday. The deal, currently worth $12.5 billion, will put Marriott's brands including the Ritz-Carlton and Starwood's Sheraton and Westin…

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Exclusive: EU set to clear unconditionally Marriott, Starwood deal – source

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Verizon, unions agree to pay raises, new jobs to end strike

One analyst called the deal “very rich” for workers at Verizon, the No. 1 U.S. wireless provider, which reached the tentative pact with the Communications Workers of America (CWA) on Friday. The CWA said Verizon agreed to provide a 10.9 percent raise over four years while Verizon put the increase at 10.5 percent. According to the CWA, both numbers are correct, with the union's

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Verizon, unions agree to pay raises, new jobs to end strike

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More than 25,000 Madoff victims now eligible for $4 billion fund

The overseer of a $4 billion U.S. Department of Justice fund for victims of Bernard Madoff's Ponzi scheme said he expected to recommend payouts for at least 25,280 claimants with nearly $4 billion in fraud losses. Richard Breeden, special master of the Madoff Victim Fund, said in an update on his website this week that his office was “substantially” finished with the initial claims review process, having analyzed 63,580 claims covering $67.8 billion of alleged losses…

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More than 25,000 Madoff victims now eligible for $4 billion fund

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