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BofA posts second-quarter loss on mortgage settlement

CHARLOTTE, North Carolina (Reuters) – Bank of America Corp posted a second-quarter net loss after agreeing to an $8.5 billion settlement with mortgage bond investors. The largest U.S. bank by assets reported on Tuesday a net loss of $8.8 billion, or 90 cents per share, compared with net income of…

German spy chief admits HQ blue prints stolen

BERLIN — Germany’s foreign intelligence chief Ernst Uhrlau Tuesday admitted that blueprints for his service’s new headquarters in Berlin had been stolen, but played down the danger posed by the loss. The missing blueprints are those of a parking area and of a “power generating centre”, not those “at the…

Electronics giant Sony expects to post losses near $3.2 billion

TOKYO (AFP) – Japan’s Sony on Monday said it expected to post a $3.2 billion net loss for the fiscal year ended March, after delaying its corporate results to gauge damage from the March 11 earthquake and tsunami. The expected third-straight annual loss for Sony comes as it tries to…

US in rush to sell off GM stake: report

NEW YORK — The United States plans to sell off much of its remaining shares in General Motors this summer despite the lackluster performance of the company’s stock, the Wall Street Journal has reported. The newspaper said the sale within the next six months would “almost certainly” mean that US…

Two-drug obesity therapy finds success in initial study

PARIS (AFP) – A new treatment for obesity that combines two existing drugs resulted in twice as much weight loss as the only approved long-term anti-obesity medication, according to a study released Monday. A mix of Phentermine and topiramate, sold under the brand name of Topamax, was shown in clinical…

Angle: Shocked by loss, has political ‘options’

Republican Sharron Angle weighs political future; lashes out at urban voters, GOP detractors Republican Sharron Angle says she was shocked by her Nov. 2 loss to Senate Majority Leader Harry Reid, but in looking forward has “lots of options” to weigh as she decides her next political step. “I will…

Christine O’Donnell says Republican ‘cannibalism’ cost her her job

A day after a major loss in her bid to be the next senator from Delaware, Christine O’Donnell said Republican leadership was to blame for her defeat. “This, honestly, what I think it was is it’s a symptom of Republican cannibalism,” O’Donnell told CNN’s Kiran Chetry Wednesday. “Had the leadership…

Kucinich on WikiLeaks: ‘American people have a right to know’

Congressman Dennis Kucinich (D-OH) responded to the WikiLeaks release on Friday with a statement saying, “We need a true accounting of the war in Iraq. The American people have a right to know how many innocent civilians were killed in a war based on lies.” “We must remember that the…

BP replaces CEO Hayward, reports $17 billion loss

BP to replace CEO Hayward with American Robert Dudley, posts $17 billion quarterly loss. BP’s much-criticized CEO Tony Hayward will be replaced by American Robert Dudley on Oct. 1, the company said Tuesday as it reported a record quarterly loss and set aside $32.2 billion to cover costs of the…

SEC suit: Bank of America failed to disclose ‘staggering financial losses’ to shareholders

Federal regulators sued Bank of America Corp. on Tuesday, accusing the company of failing to disclose “staggering financial losses” at Merrill Lynch before shareholders approved a combination of the companies. The lawsuit filed by the Securities and Exchange Commission in U.S. District Court in Manhattan sought an order requiring Bank…

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