  | | | Citi profit falls, hurt by $7 billion legal settlement | | (Reuters) - Citigroup Inc C.N said on Monday that quarterly earnings fell 96 percent, hurt largely by a $7 billion mortgage settlement, but also by declining income in most of its main businesses including stock trading and retail banking. | | |  | | | Wall Street ends higher on M&A, Citi earnings | | NEW YORK (Reuters) - Stocks rose on Monday, with the Dow Jones industrial average hitting an intraday record high, lifted by strong results from Citigroup Inc and more deals in the healthcare space. | | | |  | | | Mylan to buy Abbott generics, cut taxes, in $5.3 billion deal | | (Reuters) - Generic drugmaker Mylan Inc said on Monday it would buy Abbott Laboratories' branded specialty and generics business in developed markets outside the United States in a $5.3 billion deal that will bolster its product line and also cut its tax bill. | | | |  | | | Citigroup to pay $7 billion to settle U.S. mortgage probe | | (Reuters) - Citigroup Inc has agreed to pay $7 billion to resolve claims it misled investors about shoddy mortgage-backed securities in the run-up to the financial crisis, in a deal that includes the largest civil fraud penalty ever levied by the U.S. Justice Department. | | | |  | | | Shire ready to bow to AbbVie's increased $53 billion offer | | LONDON (Reuters) - London-listed drugmaker Shire Plc succumbed to an increased 31 billion pounds ($53 billion) takeover offer from Abbvie Inc on Monday, signaling the conclusion to a long-running courtship largely motivated by tax. | | | |  | | | Argentine debt holdout urges talks, says deal still possible | | NEW YORK (Reuters) - Aurelius Capital Management, one of the lead holdout creditors seeking to settle with Argentina over sovereign debt payments from its 2002 default, said on Monday the government faces a new crisis on July 30 unless it engages in serious negotiations. | | | |  | | | LightSquared, Dish's Ergen reach settlement deal | | NEW YORK (Reuters) - Bankrupt wireless venture LightSquared and its largest creditor, Dish Network Corp Chairman Charles Ergen, have resolved a long-running dispute over Ergen's treatment under LightSquared's proposed restructuring. | | | |  | | | Ernst & Young to settle U.S. civil charges over lobbying | | WASHINGTON (Reuters) - Accounting firm Ernst & Young will pay $4 million to settle civil charges that it violated auditor independence rules when one of its units lobbied congressional staff on behalf of its audit clients, U.S. regulators said Monday. | | | |  | | | WTO faults U.S. over duties on Chinese, Indian steel goods | | GENEVA (Reuters) - World Trade Organisation judges said on Monday the United States broke its rules in imposing hefty duties on Chinese steel products, solar panels and a range of other goods that Washington argues enjoyed government subsidies. | | | |  |  | | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today | | |  | |  | | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today | | | | | | » MORE NEWSLETTERS | |
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