NEW YORK/CHARLOTTE, N.C (Reuters) – A group of mortgage-backed securities investors says Bank of America Corp failed to buy back more than $30 billion in loans from investors after the bank modified the mortgages to reduce borrower payments. The allegation, made in a letter sent to a New York state judge on Friday, is the latest legal volley over a proposed $8.5 billion settlement that would help the bank, No. 2 in the United States by assets, resolve investor claims from its 2008 purchase of subprime lender Countrywide Financial. …
In Israel raid, Syria options severely constrained
BEIRUT (AP) -- Syria's defense minister signaled Monday that his country won't hit back at Israel over an airstrike inside Syria, claiming the Israeli raid was actually in retaliation for his regime's offensive against rebels he called "tools" of the Jewish state. Peru seeks to save a little fish with big impact
CALLAO, Peru (AP) -- The ocean off Peru boasts the world's richest fishing grounds, but Taurino Querevalu is returning to port empty again after a hunt for Peruvian anchovy, cursing his empty nets and an increasingly stingy sea. U.S. court says won't expedite Apple appeal versus Samsung
SAN FRANCISCO (Reuters) – A U.S. appeals court on Monday rejected Apple Inc's request to fast-track its bid for a sales ban on several Samsung Electronics Co Ltd phones, ruling the iPhone maker could not argue its case to the full appeals court right away. A lower court judge had rejected Apple's bid for a permanent injunction following a blockbuster trial last year. In its ruling on Monday, the Federal U.S. Circuit Court of Appeals in Washington, D.C. … French daredevil climbs Havana hotel without net
HAVANA (AP) -- A French daredevil who has scaled some of the world’s tallest buildings conquered Cuba’s famous Habana Libre hotel on Monday without ropes or a safety net -- climbing to the top in about half an hour as hundreds of awed onlookers gasped and cheered from the streets below.
U.S., states plan civil charges against S&P over ratings: WSJ
(Reuters) – Federal and state prosecutors intend to bring civil charges against Standard & Poor's for wrongdoing in its rating of mortgage bonds prior to the 2008 financial crisis, The Wall Street Journal said on M onday, citing people familiar with the matter. Allegations against the McGraw-Hill Cos unit will center on the model used to rate the bonds and will be made in lawsuits to be filed as soon as this week, the newspaper said, citing the people. A move by U.S. … Monti promotes women's rights on Berlusconi sex trial day
ROME (Reuters) – Italian Prime Minister Mario Monti spoke of the importance of women's rights on Monday, while his election rival Silvio Be rlusconi sought to have his latest hearing in a trial for underage prostitution postponed. Berlusconi's "Bunga Bunga" sex scandal was one of the factors that cut short his last spell as prime minister in late 2011 at the height of the euro zone debt crisis. … Simon Property results easily beat Wall Street views again
(Reuters) – Simon Property Group Inc reported a 21.9 percent increase in a key earnings measure for the fourth quarter, easily beating analysts’ estimates, as rents and sales rose at its malls and outlet centers. The No. 1 U.S. mall and outlet center owner also raised its dividend on Monday for the sixth straight quarter. “They just continue to defy gravity,” said Uniplan Investment Counsel President Richard Imperiale, whose fund owns Simon shares. “When you think they’re going to flatten out just because there’s no more room on the upside, they continue to churn out good operating results. …
Man doesn't remember smashing windows in post-game Vancouver riot:court
VANCOUVER – The first trial involving the Stanley Cup riot in Vancouver has heard a 26-year-old man doesn’t remember smashing windows during the melee.
Pirates seize French tanker, 17 crew off Ivory Coast
ABIDJAN (Reuters) – Suspected Nigerian pirates have hijacked a French-owned Luxembourg-flagged tanker along with its 17-member crew off Ivory Coast, Ivorian officials and the International Maritime Bureau said on Monday. The Gulf of Guinea area is second only to the waters off Somalia for piracy and there has been a spate of violent attacks in vessels in recent days, prompting the bureau to issue a security alert for the region. The Gascogne was the second vessel to be seized off Ivory Coast in less than three weeks and the first to have been taken so far from shore. …
Argentina freezes prices to break inflation spiral
BUENOS AIRES, Argentina (AP) -- Argentina announced a two-month price freeze on supermarket products Monday in an effort to break spiraling inflation.
RBC CEO Nixon's pay rises 25 percent to Canadian dollar 12.6 million
TORONTO (Reuters) – Royal Bank of Canada gave Chief Executive Gordon Nixon a 25 percent raise, paying him C$12.6 million ($12.61 million) in 2012, a year in which the company posted a record net profit. Nixon's pay includes a base salary of C$1.5 million, a cash bonus of C$2.85 million, stock options of C$1.65 million and C$6.6 million in deferred share units. The bank, Canada's largest, said his pay was 12 percent above the bank's original target level due to RBC's strong performance on the year. RBC earned a record C$7.5 billion in 2012, up 17 percent from the previous year. … Israeli, Palestinian schoolbooks flawed: study
JERUSALEM (AP) -- A new study weighed in on one of the hot-button subplots of the Israeli-Palestinian conflict Monday, saying schoolbooks of both sides largely present one-sided narratives but rarely resort to demonization. Belgian child killer requests early release
BRUSSELS (Reuters) – Belgium’s most notorious killer launched a bid for early release on Monday, despite little chance of getting parole. Marc Dutroux, who was convicted of the kidnapping and rape of six girls and the murder of four of them in the 1990s, put his case to judges in a closed-door hearing in Brussels. The case touches a nerve in Belgium because of the horrific nature of the murders, and the fact that Belgian police visited one of Dutroux’s houses while two victims, both eight years old, were being held there without finding them. …
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