Gjeldskrisen i EU
Story has been updated with Monday opening prices for Ford and GM.Detroit (TheStreet) -- Forecasters say July auto sales will likely reach their highest level since 2006, as the sector's growth continued to outpace the economy. Meanwhile, a Standard & Poor's credit analyst said the rapid sales are fueling a potential crisis for recovery ratings in debt financing by secondary auto suppliers. Those ratings now lag the U.S. corporate average. Shortly after Monday's opening bell, GM shares were trading down 5 cents at $35.02. Shares are down about [...]
Rolling coverage of the latest economic and financial news, as we get a health-check on the worlds major manufacturing sectors ... ...and 2.18pm BST Eric Holder, United States Attorney General, is telling reporters that the $16.65bn settlement with Bank of America is the largest civil settlement with a single entity in history. 2.08pm BST WATCH LIVE: U.S. Justice Department press conference on Bank of America settlement: 2.08pm BST Breaking: Bank of America has reached a $16.65bn settlement with US regulators including the Department of Justice. [...]
With sums ranging from $968m to $8.94bn, banking giants have paid out big money since the 2008 financial crisis The $16bn settlement by Bank of America is the latest in a long line of legal resolutions that banking giants have made since the 2008 financial crisis. Last year, JP Morgan Chase, the biggest bank in the US, agreed a $13bn (£7.8bn) settlement following months of tense negotiations with the justice department over a string of investigations into home loan bonds between 2005 and 2008.