Citigroup agreed to pay $7 billion to settle a U.S. government investigation into mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis. Full Article
- Generic drugmaker Mylan Inc said it would buy Abbott Laboratories' specialty and branded generics business in developed markets outside the United States in an all-stock transaction valued at about $5.3 billion.
NEW YORK - Federal prosecutors are developing a criminal fraud case hinged on whether General Motors made misleading statements about a deadly ignition switch flaw, and are examining activity dating back a decade, before GM's 2009 bankruptcy. Full Article
Israel says it shot down a drone from Gaza, the first reported deployment of an unmanned aircraft by Palestinian militants whose rocket attacks have been regularly intercepted. Jillian Kitchener reports.
Airbus’ re-launch of its A330neo wide-body jet is a clear sign their A350 strategy has failed, says Boeing VP Randy Tinseth. Video