Goldman mortgage deal with federal agency could reach $1.25 billion: source

NEW YORK - A deal to resolve a U.S. regulator's claims against Goldman Sachs Group Inc over mortgage-backed securities sold to Fannie Mae and Freddie Mac leading up to the financial crisis could cost the bank between $800 million and $1.25 billion, according to a person familiar with the matter.

Recent Business News

Swiss banks face lower fines than feared in U.S. tax case: paper

ZURICH - About 80 of the 106 Swiss banks that signed up for a deal with U.S. tax authorities could be fined less than they had feared for their role in helping wealthy Americans cheat on their taxes, but must widen their cooperation, a Swiss newspaper reported.

8:29am EDT

Tyson Foods to shut three factories, cut 950 jobs

(The third paragraph quote in this July 25 story has been corrected to make timeline clear)

12:36pm EDT

Apple iPhones allow extraction of deep personal data, researcher finds

SAN FRANCISCO - Personal data including text messages, contact lists and photos can be extracted from iPhones through previously unpublicized techniques by Apple Inc employees, the company acknowledged this week.

Tech, Media 25 Jul 2014

Wall St. Week Ahead: Even modest GDP bounce may support market

NEW YORK - Even if data next week shows a mediocre rebound in U.S. economic growth, that might be enough to keep the stock market aloft at record highs and the Federal Reserve steadfast in its winding down of stimulus through bond purchases.

25 Jul 2014

Merck aims to hike revenues in China to 1 billion euro by 2018

FRANKFURT - Merck will start offering non-prescription drugs in China as part of a push to double revenues in the region to 1 billion euros ($1.3 billion) by 2018, Chief Executive Karl-Ludwig Kley told German weekly Wirtschaftswoche.

7:48am EDT


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Sector Summary

Millennials: forever renters or just delayed homeowners?

The White House wants to help you move out of your parents’ basement. That was the message from Jason Furman, the chairman of the White House’s Council of Economic Advisers, at the Zillow Housing Forum in Washington yesterday.