Units of 13 major Wall Street firms, including JPMorgan and UBS, improperly sold bonds from Puerto Rico's landmark March junk deal to retail investors who may not have understood the debt's riskiness, the U.S. Securities and Exchange Commission said on Monday.
When the U.S. Congress returns to work next week after Tuesday's midterm elections, one of its first tasks will be dealing with dozens of expired corporate tax breaks, whose renewal and extension are seen as likely though not guaranteed.
U.S. Supreme Court justices raised doubts on Monday about an appeals court ruling that revived securities class-action claims against Omnicare Inc over whether the top U.S. provider of pharmacy services to the elderly misled investors prior to a public stock offering.
Procter & Gamble said on Monday it had temporarily suspended operations in Argentina after the country's tax authority, which has accused the company of tax fraud, said it started meetings with the world's No.1 household products maker.
