Receive Breaking News updates as they occur
LONDON (AP) — European Union leaders on Wednesday punctured U.K. optimism about a smooth and mutually beneficial divorce between Britain and the EU, declaring that, no matter what British Prime Theresa May thinks, Britain can't dictate the terms of the separation.
By Karen Freifeld NEW YORK (Reuters) - Credit Suisse formally agreed to pay $5.3 billion to settle with U.S. authorities over claims it misled investors in residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis, the U.S. Department of Justice said on Wednesday. Zurich-based Credit Suisse will pay a $2.48 billion cash penalty and provide $2.8 billion in consumer relief, including loan forgiveness and financing for affordable housing, the Justice Department said in a statement. Credit Suisse, which had announced the agreement in principle on Dec. 23, said in a statement it was "pleased to have reached an amicable settlement that allows the bank to put this legacy matter behind it." Shares of Credit Suisse on the Swiss stock exchange closed down 2.5 percent at 15.28 Swiss francs, a steeper drop than the broader European banking sector.
Denver is starting work Wednesday on becoming the first city in the nation to allow marijuana clubs and public pot use in places such as coffee shops, yoga studios and art galleries. Voters narrowly approved ...