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GM's profit falls on recall costs, victims' compensation fund

DETROIT - General Motors Co reported a much lower second-quarter profit on Thursday due to numerous recalls and the expected cost of at least $400 million for a compensation fund for those killed or injured by a defective ignition switch linked to at least 13 deaths. | Video

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Hershey warns of sticker shock from chocolate price hike

NEW YORK - Hershey Co, one of the world's best known names in chocolate, expects its first price hike in three years to crimp short term sales, but over the long haul the popularity of chocolate will prevail, the company's chief executive said on Thursday.

2:45pm EDT

Barclays files to dismiss New York lawsuit against 'dark pool'

NEW YORK/LONDON - Barclays Plc urged the dismissal on Thursday of a lawsuit from the New York attorney general alleging the bank lied to clients about its high-speed trading venue, saying the complaint had "fatal flaws" because Barclays' customers were never misled.

U.S. airlines focus on investor returns as industry profits

- Major U.S. airlines posted earnings gains on Thursday, aided by higher airfares and summer demand, and the two largest carriers announced moves to return more cash to investors.

12:38pm EDT

Morgan Stanley to pay $275 million penalty for misleading RMBS investors

NEW YORK/WASHINGTON - The U.S. Securities and Exchange Commission said on Thursday it had charged Morgan Stanley with misleading investors about two residential mortgage-backed securities it issued before the 2008 financial crisis, and that the bank would pay $275 million to settle the case, according to a press release.

Bank of America to pay $16.6 million to resolve U.S. sanctions violations

WASHINGTON - Bank of America Corp's banking unit agreed to pay $16.6 million to resolve allegations that it processed several hundred transactions for drug traffickers who are subject to U.S. sanctions, the U.S. Treasury Department said on Thursday.

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