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Bank of America seeks to void verdict in $1.27 billion 'Hustle' case

A Bank Of America sign is pictured in the Manhattan borough of New York By Nate Raymond NEW YORK (Reuters) - Bank of America Corp on Thursday asked a federal judge to throw out a jury verdict finding it liable for fraud over defective mortgages sold by its Countrywide unit that resulted in a $1.27 billion penalty. District Judge Jed Rakoff in Manhattan to rule for it as a matter of law or order a new trial, arguing that the evidence at trial did not support the jury's October 2013 verdict. Bank of America said prosecutors were required at trial to prove that loans originated by Countrywide Financial Corp in a process called "Hustle" that were then sold to government mortgage finance giants Fannie Mae and Freddie Mac were not as good as the lender represented. Attorney Preet Bharara, whose office brought the case in 2012, declined comment.


Are You Driving Your Data? Or Is Your Data Driving You?

Are You Driving Your Data? Or Is Your Data Driving You? In business, politics and philanthropy, being data-driven has become a point of pride.Leaders parade decision-making as rational and strategic because they "have the numbers" to support it. The tech revolution with its miraculous information-processing seems to support the idea of data as king.But any software engineer can tell you that...


Ford, IBM win dismissal of 12-year lawsuit over apartheid abuses

The company logo is seen on the bonnet of a Ford car during the media day ahead of the 84th Geneva Motor Show in Geneva By Jonathan Stempel NEW YORK (Reuters) - A Manhattan federal judge has dismissed a 12-year-old lawsuit accusing Ford Motor Co and IBM Corp of encouraging human rights abuses in apartheid-era South Africa, reluctantly concluding that the case does not belong in U.S. District Judge Shira Scheindlin on Thursday said the black South Africans who brought the case did not show "relevant conduct" by Ford and IBM within the United States to justify holding the companies liable. The plaintiffs had accused Ford, IBM and other companies of having between the 1970s and early 1990s aided South Africa's former apartheid government in abuses such as killings and torture, by having made military vehicles and computers for government security forces.


Wall Street loses ground on Ukraine worry

Traders work on the floor of the New York Stock Exchange Ukraine's security and defense council said the border town of Novoazovsk and other areas of Ukraine's south-east had fallen under the control of Russian forces, together with rebels. The Federal Bureau of Investigation said it was investigating media reports that several U.S.


New Clean Energy Jobs Report Something to Celebrate This Labor Day

New Clean Energy Jobs Report Something to Celebrate This Labor Day Here's something to celebrate this Labor Day weekend: The continued growth of clean energy jobs in America.Environmental Entrepreneurs' (E2's) just-released quarterly jobs report shows that the number of new clean energy and clean transportation jobs announced in the second quarter of this year doubled from the previous quarter.More than 12,500...


Has the Consumer Finally Defeated the Worker?

Has the Consumer Finally Defeated the Worker? The tide of the battle that has been playing out for nearly two centuries between the economy and politics, between market forces and democracy, between capitalism and the state, is now turning decisively in favor of the market.


Exclusive: Microsoft CEO Nadella to visit China amid antitrust probe - source

Nadella, Microsoft Corp chief executive, attends the unveil event of the new Microsoft Surface Pro 3 in New York By Gerry Shih and Paul Carsten BEIJING/SEATTLE (Reuters) - Microsoft Corp Chief Executive Officer Satya Nadella is set to visit China in late September, the company said on Thursday, as the Chinese government conducts an antitrust investigation into the world's largest software company. It is not clear if Nadella, who took over as Microsoft CEO in February, will meet with any Chinese government representatives as part of his visit, or try to resolve issues with the State Administration for Industry and Commerce (SAIC), one of China's antitrust regulators.


1.5 Million Opportunities to Strengthen Your Business

1.5 Million Opportunities to Strengthen Your Business When it comes to addressing veteran unemployment, I have experienced both sides of the coin. I know what it is like to trade the structure and familiarity of the military lifestyle for the uncertainty of the civilian workforce. I also know what it is like to recruit, hire, and train new employees -- a transition process with its own challenges...


Leaders: Legal, Ethical or Right?

Leaders: Legal, Ethical or Right? Do you remember playing games as a child when you made up the rules as you went along? Those rules that evolved on such short-notice often proved to be a source of contention!Likewise, for leaders at work. When people decide to disregard their moral compass as the official business handbook, they begin to make up the rules as they go. Anything...


Top 3 Mistakes Newbie Entrepreneurs Make and Their Solutions

Top 3 Mistakes Newbie Entrepreneurs Make and Their Solutions In the current entrepreneurship boom we are experiencing nowadays, it is quite common that novice business owners -- as well as those with more experience -- make very frequent mistakes due to a lack of legal counseling and experience.The top three legal mistakes entrepreneurs usually make are: 1. Not registering the company from the beginning:...


Telefonica prevails in battle for Vivendi's Brazil unit GVT

Telecom Italia tower in Rome By Leila Abboud PARIS (Reuters) - French media company Vivendi picked Telefonica for exclusive talks over the sale of its Brazilian broadband unit GVT, spurning a rival bid from Telecom Italia . Telefonica will fold GVT into its Brazilian mobile phone carrier Vivo to create the country's biggest telecom group. Vivendi's decision deals a blow to Telecom Italia, which needed GVT to shore up its own Brazilian mobile business Tim Participações , which lacks a fixed-line network. For Vivendi, the GVT sale caps a tumultuous two-year overhaul in which it sold three telecom businesses and its video games arm to pay down debt and focus more on media and content.


From Crane Operator to Artist: How a Homeless Man Is Transforming His Life

From Crane Operator to Artist: How a Homeless Man Is Transforming His Life As my mailbox becomes inundated with flyers advertising extravagant Labor Day sales, I can't help but think about all of the people who became unemployed in the recession. How have their lives transformed over the last six years? Where are they now? Meet Scott Benner. He has a striking resemblance to Santa. His curly white beard and level of...


IMF board likely to back Lagarde during French probe: sources

File photo of International Monetary Fund (IMF) Managing Director Christine Lagarde holding a news conference in Washington By Anna Yukhananov WASHINGTON (Reuters) - The International Monetary Fund's board is likely to stand behind the global lender's leader, Christine Lagarde, who is facing a criminal investigation in France tied to a political corruption probe, sources close to the board said. The 24-member board, which has the power to hire and fire the IMF's managing director, has not yet been briefed on the latest turn in the case dating from 2008, but three sources said it was unlikely to view the investigation as something that would interfere with Lagarde's duties. French magistrates on Wednesday put Lagarde under formal investigation for "negligence" after questioning her in Paris for a fourth time. The long-running saga concerns allegations that tycoon Bernard Tapie won a large arbitration payout due to political connections when Lagarde was French finance minister.


Dollar General margins fall in tough discount market

A price sign at a Dollar General store in Arvada, Colorado Dollar General Corp reported lower margins and slower-than-expected growth in quarterly same-store sales, reinforcing the need for consolidation among deep-discount retailers as it vies to take over its closest rival. Chief Executive Rick Dreiling said Dollar General would not relinquish its pursuit of Family Dollar Stores Inc , even though the No. 1 U.S. "We truly hope that Family Dollar will come to the table," Dreiling said on a post-earnings conference call on Thursday. Dollar General's shares rose 1.8 percent, Family Dollar's were marginally higher and Dollar Tree's were up 1 percent.


5 Reasons You Should Keep Pushing Past Your Doubts

5 Reasons You Should Keep Pushing Past Your Doubts For some insane reason, many people believe that entrepreneurs have life all figured out. That we are happy go lucky all of the time and our business is full of rainbows that pop out magical Skittles. They seem to think that we don't know what it's like to doubt ourselves. They believe we don't understand that feeling of not knowing which...


U.S. second-quarter growth strengthens

Gross domestic product expanded at a 4.2 percent annual rate instead of the previously reported 4.0 percent pace, the Commerce Department said on Thursday. Both business spending and exports were revised higher, while a buildup in business inventories was smaller than previously estimated - a mix of growth that provides a stronger underpinning for the remainder of the year. "The economy is in good shape and getting better," said Joel Naroff, chief economist at Naroff Economic Advisers in Holland, Pennsylvania.

How do you Define a Social Business?

How do you Define a Social Business? Let's define a social business and how it is evolving. It's not just "being social" with your customers (having social profiles where you know they hang out); it's about being more connected in your business processes as well. Stop thinking in terms of silos of information and people, and start thinking about ways to connect everyone.For...


The Business of Business Culture: Shift From Blame to Brave

The Business of Business Culture: Shift From Blame to Brave Sometimes client work runs counter to your established company principles. After successfully working with a client for many months, one of my employees came to me seeking advice on how to handle a peculiar situation. Essentially, the client lead wanted us to conduct a user research project using the wrong strategy. We knew this strategy was...


Pending home sales point to stronger market

A real estate sales sign sits outside of a house for sale in Phoenix, Arizona Americans signed more contracts in July to buy previously-owned homes than in any month in almost a year, suggesting the housing market was pulling out of its slump more quickly than expected. The National Association of Realtors (NAR) said on Thursday its Pending Home Sales Index, based on contracts signed last month, rose 3.3 percent to 105.9, the highest level since August 2013.


Benmosche says he sped up exit amid year-to-live prognosis: Bloomberg

Benmosche arrives at the White House in Washington (Reuters) - Robert Benmosche, the outgoing Chief Executive of American International Group Inc , sped up his exit from the insurer after learning that he had at most a year to live, Bloomberg reported. "You know what, I'm not going to play the odds" Benmosche said at his villa in Croatia.


Market Basket Drama Ends As Deal Reached To Sell New England Supermarket Chain To Former CEO

Market Basket Drama Ends As Deal Reached To Sell New England Supermarket Chain To Former CEO BOSTON (AP) — As Arthur T. Demoulas made a triumphant return Thursday to lead the Market Basket supermarket chain, it was the words of his employees that summed up their fierce loyalty to him that led to a remarkable workers' revolt that nearly crippled the New England chain but eventually put him back on top."We did it for you!" one employee...


Alex Salmond's Kamikaze Negotiating is a Millstone Round Scotland's Neck

Alex Salmond's Kamikaze Negotiating is a Millstone Round Scotland's Neck Image courtesy of goforchrisJohn Swinney, the Finance Secretary for Scotland has repeated the SNP government's threat to walk away from Scotland's share of the UK debt. Let me repeat that again: the man who is currently in charge of Scotland's economy, who in an independent Scotland would be charged with selling Scottish government debt to the...


This Is How The Super Rich Can Effectively Give Back

This Is How The Super Rich Can Effectively Give Back Once accomplished individuals, including CEOs, business owners, high-profile athletes and entertainers, achieve a certain level of success there inevitably comes a time when they begin to ask themselves, “What’s next?”They have worked tirelessly their whole lives, built a long and distinguished resume of professional achievements, along...


Want to Move From Functioning to Flourishing at Work?

Want to Move From Functioning to Flourishing at Work? Do you ever feel like there's a blanket of greyness snuffing all the color out of your life? Instead of feeling full of energy, enthusiasm and enjoyment most days you drag yourself around feeling deflated, disillusioned and disappointed. And you can't help but wonder if: "Surely there's more to life than this."For many years this was my daily...


Justine Angelli: Serial Entrepreneur Helping You Fundraise for Anything

Justine Angelli: Serial Entrepreneur Helping You Fundraise for Anything An Interview with Justine Angelli, CEO and founder of ShareagiftThis interview is part of a series on Trailblazing Women role models from around the world.Justine Angelli is the CEO and founder of Shareagift, set to become the eBay of gifting occasions. Shareagift essentially provides crowdfunding technology for gifts.


The Bottom Line Impact of Wellbeing in the Workplace

The Bottom Line Impact of Wellbeing in the Workplace Work practices, culture, well-being programs and relationships within workplaces are key determinants, not only of whether people feel valued and supported in their work roles, but also of individual health, well-being, productivity and most importantly to the bottom line of any companies profits. Well-designed and well-managed workplaces can...


Transactional and Marketing Emails Are the Perfect Pair for Winning the Game of Customer Love

Transactional and Marketing Emails Are the Perfect Pair for Winning the Game of Customer Love Transactional emails -- such as order confirmations and shipping notifications -- are the long lost (revenue) loves for businesses. Transactional emails are a terrific opportunity to increase revenue by establishing new and long-term relationships, and courting customers with sweet gifts like rewards, promotions and sales. But most companies...


7 Decision Making Styles

7 Decision Making Styles What is your style? I don't mean the way you dress, I'm thinking deeper. Specifically, what style drives your choices? Every day, we are confronted with decisions that determine who we will become and what we will be known for in culture. Most decisions simply come down to two simple words: yes or no. But what are the drivers and how do you...


Offer Incredible Value and Your Customers Won't Turn It Down

Offer Incredible Value and Your Customers Won't Turn It Down Wednesday morning I was checking my emails that came through overnight, like I do first thing every morning, and I saw an email with the subject, "Order Boom Going On Now | 5 Days Left to Enter for Vegas!" from TigerFitness.com. Naturally I clicked on it and before I knew it I had my wallet out.Wait, what just happened?The order boom! It got...


Why We Should All Vacation At The Exact Same Time

Why We Should All Vacation At The Exact Same Time It may be summertime, but the living isn't exactly easy.Vacations are increasingly being squeezed by our inability to disconnect and the pile of work we return to after the holiday ends. And our colleagues who stay behind aren't faring much better. Scrambling to cover for absent employees, they try to keep productivity up even as someone...


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