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An $18 million settlement to partially cover losses in prepaid funeral plans has been distributed to Illinois funeral directors after being tied up in a lawsuit for nearly two years.
The state Department of Insurance announced the distribution Friday, but its news release did not mention that the settlement terms had been changed. Get the full story »
Further quantitative easing by the U.S. Federal Reserve could push oil prices to an average of $83 next year even if demand remains weak, analysts at Bank of America Merrill Lynch said on Friday. Get the full story »
Bank of America Corp. and former Chief Executive Kenneth Lewis denied civil fraud charges brought by New York’s attorney general over the bank’s takeover of Merrill Lynch & Co. amid the 2008 financial crisis.
In court papers filed Wednesday, Lewis said the state’s prosecutor Andrew Cuomo had no basis in his lawsuit to allege a conspiracy to mislead the public and shareholders about Merrill’s deteriorating finances and Bank of America’s desire for government assistance. Get the full story »
The parent company of Ameristar Casino Hotel East Chicago in Hammond, Ind., confirmed Wednesday it is exploring strategic alternatives, including a possible sale of the company.
The company said it retained Lazard and Bank of America Merrill Lynch as its financial advisers and Gibson, Dunn & Crutcher LLP as its legal adviser in the process. Get the full story »
Goldman Sachs Group Inc. is the bank many Americans love to hate, but one group just plain loves it: its employees.
The firm’s employees are among the most fiercely loyal in the financial services industry, according to a survet by glassdoor.com, a career Web site. And Goldman Chief Executive Lloyd Blankfein had the highest approval rating of any CEO in the financial sector. Get the full story »
