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Author Archives: Bloomberg News

Wealthy investors shrug at Facebook IPO

Wealthy investors aren’t clamoring for a piece of Facebook Inc.’s initial public offering because some own the stock through private transactions while others shy away from risky technology deals, according to advisers.

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At Yale, 52 sexual misconduct incidents in six months

Yale University, under federal investigation over how it handles sexual harassment, investigated 52 incidents of alleged sexual misconduct between July and December, according to the school.

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Impasse may provoke payroll tax cut extension

Senate Finance Committee Chairman Max Baucus said lawmakers may have to agree to another short-term extension of a payroll tax cut for workers if they can’t reach a deal on covering the measure’s cost.

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Proposed 50-state foreclosure accord deadline is Feb. 3

State attorneys general have until Friday to decide whether to sign a proposed nationwide settlement of foreclosure wrongdoing with banks including JPMorgan Chase and Citigroup that may total as much as $25 billion.

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U.S. forms mortgage fraud unit

A new U.S. government unit will investigate misconduct in the bundling of mortgage loans into securities that fueled the housing bubble and contributed to the financial crisis, Attorney General Eric Holder said.

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President Obama answers with refinancing plan

President Barack Obama answered Ben S. Bernanke’s appeal for more action to fix the U.S. housing market that’s restraining the economic recovery by proposing a plan to help borrowers reduce their monthly mortgage payments.

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J&J unit didn’t hide drug risks, lawyer says

Johnson & Johnson properly warned of the risks of its antibiotic Levaquin and shouldn’t be held liable for tendon injuries sustained by a 78-year-old man, a company lawyer said at the end of a trial in Minneapolis.

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GOP considers confirmation boycott

The U.S. Senate’s confirmation of a federal judge may be one of the last of President Barack Obama’s nominees cleared as Republicans consider whether to retaliate against his recess appointments.

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Hostess trial set for March

The labor unions and benefit plans that dominate Hostess Brands Inc.’s official committee of unsecured creditors will face a challenge in a trial set to begin March 5 on whether the company can terminate existing pensions and retiree benefits.

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Meeting planned to rally for foreclosure accord

State attorneys general are being invited to meet with U.S. Housing and Urban Development Secretary Shaun Donovan and a Justice Department official to rally support for a proposed settlement with banks over foreclosure practices, the Iowa Attorney General’s Office reported.

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