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.
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WASHINGTON - Bank of America Corp's banking unit agreed to pay $16.6 million to resolve allegations that it processed transactions for drug traffickers who are subject to U.S. sanctions, the U.S. Treasury Department said on Thursday.
NEW YORK - U.S. stocks opened slightly higher on Thursday, following a record close on the S&P 500 index, lifted by strong job market data in the United States and overseas factory readings, while better than forecast results sent Facebook shares rallying.
Facebook is becoming a P&G-style brand holding company that sucks ad dollars from phones around the world.