NEW YORK (Reuters) - Money manager Ezra Merkin has agreed to pay $410 million to settle a lawsuit brought by the New York attorney general that accused Merkin of steering client money to Ponzi schemer Bernard Madoff, a person familiar with the settlement said on Sunday.
Reuters
Analysis: Be afraid: Some in U.S. see shades of 2008 in euro crisis
These are the words some prominent American investors and strategists are using to describe the worsening debt crisis in the euro zone and its impact on the global economy.
Factory, jobs data highlight struggling recovery
WASHINGTON/NEW YORK (Reuters) - U.S. manufacturing grew at its slowest pace in 11 months in June and the number of Americans filing new applications for unemployment aid fell only slightly last week, further evidence the economy was weakening.
Moody's cuts ratings of 15 banks
CHARLOTTE, N.C./LONDON (Reuters) - Ratings agency Moody's downgraded 15 of the world's biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities, but banks criticized the move as backward looking.
