Category > Business

Former Oprah agent sells penthouse for $3.67M
Elite Street: Attorney Jeffrey Jacobs, who for 18 years was Oprah Winfrey's agent, manager and adviser, on Monday sold his 13-room, duplex penthouse co-op apartment in east Lincoln Park for $3.675 million.
Source: Chicago Tribune

States Agree on $25B Foreclosure 'Robo-Signing' Deal
Officials from more than 40 states have signed a record $25 billion settlement with the five biggest banks related to foreclosure abuses including "robo-signing" of documents..
Source: ABC

Goldman's Blankfein to Get Smaller Bonus
Goldman Sachs CEO Lloyd Blankfein's bonus will be cut to $7 million this year from $12.6 million the year before, according to Equilar, an executive compensation data firm. Goldman's heaviest hitters, as as group, will see their bonuses reduced by almost half. They are but the most recent group of traders to feel the bite of Wall St. pay cuts.
Source: ABC

Toyota Talks Up Despite Down Quarter
Toyota lifted its full-year net income forecast, but expects its earnings to come in at nearly half the level of last year, and below the profitability projections of its main Japanese rivals.
Source: Wall Street Journal

Dubai May Sell Asia Shipping Arm
Drydocks World, Dubai's shipyard arm, is considering the sale of its entire Southeast Asian ship-building and repair operations in an effort to advance the restructuring of $2.2 billion of the company's debt.
Source: Wall Street Journal

Spain's Banks Set Property Buffer
Spain's three largest banks said they would set aside ?7.54 billion in additional provisions for property risk this year in order to comply with a new government plan to clean up the country's financial sector.
Source: Wall Street Journal

BP Raises Dividend on Profit Increase
BP raised its dividend for the first time since it resumed payouts in the wake of the Deepwater Horizon tragedy, as the U.K. energy giant reported earnings that beat expectations.
Source: Wall Street Journal

U.K. Sets Up Leadership School for Civil Servants
The U.K. government is setting up an academy to hone the leadership skills of its top civil servants to make sure they deliver state infrastructure projects on time and on budget.
Source: Wall Street Journal

India Cuts Growth Forecast to 6.9%
India again cut its economic growth forecast for the current fiscal year to 6.9%, which will be the slowest in three years, as aggressive monetary tightening at home and a shaky global economy crimped industrial activity.
Source: Wall Street Journal

Xstrata, Glencore Agree to Merger Terms
Anglo-Swiss miner Xstrata outlined the terms of its proposed $90 billion deal with Glencore International, with investors set to receive 2.8 Glencore shares for each Xstrata share owned.
Source: Wall Street Journal