JPMorgan to face U.S. class action in $10 billion MBS case

NEW YORK - A federal judge on Tuesday said JPMorgan Chase & Co must face a class action lawsuit by investors who claimed the largest U.S. bank misled them about the safety of $10 billion of mortgage-backed securities it sold before the financial crisis.

Recent Business News

Mercer cuts ratings on Pimco funds, more outflows could follow

NEW YORK - Influential pension consultant Mercer Investment Management has downgraded its ratings on five Pimco funds, possibly triggering another wave of institutional investor outflows from the Newport Beach, California, bond fund manager.

7:48pm EDT

U.S. consumer confidence, home prices show weakness

NEW YORK - U.S. consumer confidence fell in September for the first time in five months and home prices in July rose less than expected from a year earlier, underscoring the unsteady nature of U.S. growth.

11:28am EDT

AT&T expects customer usage of NEXT to reach 50 percent in third quarter

WASHINGTON - AT&T Inc expects that customer use of its equipment installment plan will have reached 50 percent in the third quarter, the company said in a regulatory filing on Tuesday, fewer customers than analysts expected.

2:12pm EDT

American Apparel board open to letting Charney stay: Bloomberg

- American Apparel Inc's board is increasingly open to letting its ousted founder, Dov Charney, stay at the company, Bloomberg reported, citing people familiar with the matter.

7:27pm EDT

Microsoft names next operating system 'Windows 10'

SAN FRANCISCO - Microsoft Corp announced its 'Windows 10' operating system on Tuesday to replace the largely unpopular Windows 8, skipping a number to mark a leap toward unifying the way people work on tablets, phones and traditional computers.

Tech, Media 6:33pm EDT


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