The trustee liquidating Lehman Brothers Holdings Inc's brokerage unit has agreed with Pacific Investment Management Co unit to resolve $187.4 million of the money management firm's customer claims, likely at a fraction of their estimated value.
The White House will soon announce a nominee to the Federal Reserve Board, a person familiar with the matter said on Friday, in a move that would begin the process of filling one of the Fed's two empty seats in Washington.
Brazil's state-run oil firm Petrobras said on Tuesday it may increase the number of foreign companies it works with after banning several Brazilian contractors because police have implicated them in a kickback scheme at the company.
BP reviewed the activities of its in-house foreign exchange traders, the British oil and gas group said on Tuesday, after the Financial Times reported that BP was investigating whether its traders were involved in rigging the currency market.
