U.S. News
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New York and California agreed to join more than 40 other U.S. states in settling a 16-month investigation of abusive bank foreclosure practices that followed the collapse of the housing bubble, a person familiar with the matter said.
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U.S. stocks rose and a gauge of global equities entered a bull market as investors awaited the outcome of negotiations on steps to tame Greece’s debt crisis. The euro and Treasuries were little changed.
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Diamond Foods Inc. will restate earnings for the past two years and replace its top two executives after the board found the company booked payments to walnut growers in the wrong periods. The shares plunged.
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Cisco Systems Inc., the biggest maker of networking equipment, beat profit and sales estimates, defying concerns that delays in network upgrades by phone and cable companies would drag down revenue.
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