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

NEW YORK - Barclays Plc called for 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, calling it unjustified 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 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.

China probes food businesses; Hong Kong bans imports in meat safety scare

SHANGHAI - China's food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan.

6:42am EDT

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