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Jobs, housing data show economy has some muscle

WASHINGTON - The number of Americans filing new claims for unemployment benefits fell last week, pointing to resilience in the labor market despite belt-tightening by Washington.

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U.S. prosecutors sought testimony from top SAC executives: WSJ

NEW YORK - U.S. prosecutors are seeking testimony from three senior executives of the $15 billion hedge fund SAC Capital Advisors, the Wall Street Journal reported on Thursday.

1:58pm EDT

JPMorgan names Barry Sommers to head consumer bank

- JPMorgan Chase said it has appointed Barry Sommers, under whom the bank expanded its services to wealthy clients, to head its Chase consumer bank business.

1:50pm EDT

Ally to pay $2.1 billion to settle claims tied to ResCap

- Ally Financial Inc agreed on Thursday to pay $2.1 billion to settle legal claims tied to its bankrupt Residential Capital LLC unit, nearly triple the amount it initially offered to creditors of the subprime mortgage business.

1:37pm EDT

Large U.S. retailers sue Visa, MasterCard over card fees

- A group of U.S. retailers, including Macy's Inc. and Target Corp. , sued Visa Inc. and MasterCard Inc. on Thursday, breaking off from a proposed $7.2 billion settlement reached last year over fees to process credit card transactions.

1:30pm EDT

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