The accountant in Bernard L. Madoff’s giant Ponzi scheme, David G. Friehling, received a relatively light sentence of home detention but no additional prison time Thursday because of his cooperation with prosecutors.
Moody’s Investors Service said that it was upgrading the ratings of four of the largest U.S. banks after the company determined that some creditors would suffer fewer losses if those banks were to fail.
The New York Stock Exchange is preparing a new plan to make it easier to buy or sell the shares of thousands of listed companies, an effort to counter the slow midday trading and uneven liquidity plaguing U.S. stock markets.
Rick Santorum’s entry to the presidential field offered the latest example of Republicans’ looking to broaden their appeal to an electorate facing unease over stagnant living standards for middle-class Americans.
The business of remaking Abercrombie & Fitch Co. is costly. The company’s first-quarter loss was dragged down by a series of charges aimed at revitalizing the company by dialing back its sex-infused image.