Bank of America ordered to pay $1.27 billion for Countrywide fraud 2:56pm EDT

NEW YORK - A federal judge on Wednesday ordered Bank of America Corp to pay $1.27 billion of damages after a federal jury found the second-largest U.S. bank liable for fraud over defective mortgages sold by its Countrywide unit.

U.S. Federal Reserve Chair Janet Yellen testifies on the economy before the Joint Economic Committee on Capitol Hill in Washington May 7, 2014. REUTERS/Jonathan Ernst

Fed presses forward with bond buying

WASHINGTON - The Federal Reserve pressed ahead with its plan to wind down its bond-buying stimulus and upgraded its assessment of the U.S. economy, while reaffirming it is in no rush to raise interest rates.  Full Article 

An armed pro-Russian separatist looks back next to a vehicle of the Organisation for Security and Cooperation in Europe's (OSCE) monitoring mission in Ukraine, on the way to the site in eastern Ukraine where the downed Malaysia Airlines flight MH17 crashed, outside Donetsk, July 30, 2014. REUTERS/Sergei Karpukhin

Moscow fights back after sanctions

MOSCOW/KIEV - Russia fought back over new U.S. and EU sanctions imposed over Ukraine, where fighting between Moscow-backed rebels and government troops has intensified since a Malaysian airliner was shot down.  Full Article 

Medical staff working with Medecins sans Frontieres (MSF) prepare to bring food to patients kept in an isolation area at the MSF Ebola treatment centre in Kailahun July 20, 2014. REUTERS/Tommy Trenchard

Fighting Ebola: A matter of trust

The size of this Ebola outbreak can be blamed on understaffed hospitals, a shortage of drugs and a lack of trust in foreign doctors.  Commentary 

Argentina's President Cristina Fernandez arrives at a Mercosur summit in Caracas July 29, 2014.  REUTERS/Jorge Silva

Argentina debt talks go down to the wire

BUENOS AIRES/NEW YORK - Argentina was in a race against time to cut a deal by the end of the day with holdout investors suing it or win a reprieve from a U.S. court.  Full Article 

A person holds a magnifying glass over a computer screen displaying Twitter logos, in this picture illustration taken in Skopje September 10, 2013.  REUTERS/Ognen Teofilovski

Twitter's surge revives valuation debate

The surge in Twitter's shares has revived debate about whether the stock warrants a valuation that is five times that of Facebook, its biggest rival in social media.  Full Article 

Report
Yet more missiles rain down on Gaza as death toll nears 1300

Emergency workers fought through smoke to find victims of an Israeli air strike on a day that saw the death toll in Gaza edge closer to 1300. Deborah Gembara reports.

A miner covered in coal dust sits inside a mine in Choa Saidan Shah, in Pakistan's Punjab province, April 29, 2014. REUTERS/Sara Farid

Mining, curfews and couch potatoes

Baltimore preps for a curfew and a new study assesses how much TV-watching makes us happy. Heather Struck highlights coverage you may have missed.   Full Article