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Bank of America Corp., the second-largest lender in the US, is on the verge of settling a high-profile probe into whether its Countrywide Financial unit violated fair-lending practices. The settlement, reportedly in the works with the US Justice Department, would make Bank of America the largest financial institution to settle
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The Motion Picture Association of America (MPAA) has issued a statement criticizing draft legislation on online piracy proposed by Representative Darrell Issa and Senator Ron Wyden. The legislation aims to address content theft by foreign criminal enterprises, but the MPAA claims it fails to provide an effective way to target
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The US Department of Justice's bid to block AT&T's purchase of T-Mobile USA has significant backing from top-ranked analyst Craig Moffett, who asserts that the deal faces low probability of success. In a Bloomberg TV interview, Moffett stated that the DOJ's push
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The current debate in the U.S. Congress on extending the payroll tax cut has highlighted the need for fiscally responsible measures to strengthen the economy in the near term while making steps towards long-term fiscal sustainability. Alan Kruger, the chairman of the Council of Economic Advisers, emphasized the importance
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Facebook, the popular social networking site, is reportedly contemplating an initial public offering (IPO) by the end of the year, according to multiple media sources. The company is said to be seeking to raise $10 billion, which would value the company at over $100 billion. This valuation is significantly higher
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As the US Super Committee's failure to reach a budget agreement looms, Jack Ablin, CIO of BMO Harris Private Bank, shares his insights on the implications for the market and the economy. In a recent interview on Bloomberg TV, Ablin expressed his optimism about the market's
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Former Secretary of State George Shultz has known the late Ted Forstmann well, having served on the board of Gulfstream with him. In a November 21, 2011, Bloomberg TV interview, Shultz recalled the time he spent with Forstmann, highlighting his exceptional leadership, business acumen, and philanthropic efforts. Shultz praised Forstmann&
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A TransCanada executive has acknowledged that new pipelines are needed to transport oil from the Cushing hub in Oklahoma to key market areas along the southern US coast. The decision by Enbridge Inc. and Enterprise Products Partners to reverse the flow of the Seaway pipeline to carry oil from Cushing
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Former Senator John Sununu believes that the conservative candidate base is looking for an alternative to Mitt Romney, attributing Newt Gingrich's campaign resurgence to his articulate communication of conservative principles. Sununu, a key supporter of Romney but not an official endorser himself, suggests that Gingrich's conservative
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Regulators are examining the safety of lithium-ion batteries used in electric vehicles after a Chevrolet Volt caught fire at a National Highway Traffic Safety Administration testing center in Wisconsin. The investigation has raised concerns about the risk of fires in vehicles equipped with these batteries. All major automakers, including General
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Ford Motor Company is investing $200 million to build a new engine in Cologne, Germany, which will be available in European models of the Ford Focus and other vehicles worldwide. CEO Alan Mulally joins Bloomberg TV to discuss the company's decision to invest in Europe, despite the region&
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As Greece's government called a referendum on its latest bailout package, European stocks suffered their largest decline in five weeks. The Stoxx Europe 600 Index plummeted 3.5 percent, with national benchmark indexes dropping at least 2 percent in all 16 western European markets. Credit Suisse and Danske
