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Citi agrees to pay $7 billion to settle securities investigation

- Citigroup Inc said it agreed to pay $7 billion to settle a U.S. government investigation into mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis.

Recent Business News

Plateau in smoking suits helps Reynolds-Lorillard deal

NEW YORK - Smoking-related lawsuits against U.S. tobacco giants are leveling off, making it more likely that a merger between rivals Reynolds American Inc and Lorillard Inc will go through, analysts who follow the industry said.

12:05am EDT

Boeing says well-placed in wake of Airbus revamp plan

FARNBOROUGH England - U.S. planemaker Boeing said its range of aircraft meant it was well-placed to compete in the latest stage of a long-haul battle against European rival Airbus , which earlier stole the limelight with a plan to revamp its A330 jet.

7:40am EDT

Samsung halts business with supplier in China on child labor concern

SEOUL - Samsung Electronics Co Ltd said it halted business with a supplier in China over suspected use of child workers, the first time it has taken such a step, after criticism that its monitoring of labor practices at suppliers was inadequate.

2:58am EDT

China charges GSK-linked investigators for illegally obtaining private information

SHANGHAI - Prosecutors in China have filed charges against British investigator Peter Humphrey and his American wife, the official Xinhua news agency said on Monday, after the couple were detained last year following work they did for British drugmaker GlaxoSmithKline Plc.

Ford, Toyota halt some South African output due to strike

CAPE TOWN - U.S. motor company Ford has suspended production at one of its South African plants and Japanese car-maker Toyota plans to follow suit as a manufacturing workers' strike hits suppliers of car components.

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Sector Summary

A Cynking ship

The weird movements in Cynk’s stock was first flagged by the finance blog Zero Hedge on Monday, and throughout the week went from a joke about the heights of the tech bubble in certain corners of the finance internet to a legitimate news story.

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