WASHINGTON (AP) — A person familiar with the matter says Bank of America has agreed to pay between $16 billion and $17 billion to settle an investigation into its sale of mortgage-backed securities before the financial crisis. MOSCOW (AP) — Russian President Vladimir Putin on Wednesday hit back hard against countries that have imposed sanctions over the Ukraine crisis, ordering trade cuts that an official said would include a ban on all imports of agricultural products from the United States. Walgreen, the nation's biggest drugstore chain, said Wednesday that it would no longer consider a so-called inversion, which has become popular among large, multi-national health care companies looking to cut U.S. taxes. NEW YORK (AP) — Sprint's new owner is replacing its longtime CEO with a Bolivian billionaire and entrepreneur after dropping its bid for rival wireless carrier T-Mobile US. Sprint shares fell 19 percent Wednesday after its chairman and incoming CEO talked about adopting aggressive tactics to compete with AT&T and Verizon, likely including price cuts. DETROIT (AP) — Chrysler remained on the comeback trail with a 22 percent second-quarter profit increase, but U.S. investors may not get a chance to buy shares of the company if a planned merger with Fiat gets scuttled. In a conference call, CEO Irene Rosenfeld said Mondelez raised prices to make up for rising costs for ingredients such as cocoa and dairy products. WASHINGTON (AP) — Pfizer will pay $35 million to resolve allegations by 42 states that its subsidiary, Wyeth Pharmaceuticals, illegally marketed an organ transplant drug for unapproved uses. LOS ANGELES (AP) — Internet radio leader Pandora has come to its first-ever direct licensing deal with artists, a wide-ranging agreement with independent label group Merlin that both said would mean higher payments to artists and more play for them on Pandora stations. MINNEAPOLIS (AP) — Target Corp. is adding its name to a legal defense of gay marriage, joining other large companies that are taking a stand, just four years after the retailer came under criticism for supporting a strident opponent of same-sex unions. PITTSBURGH (AP) — Environmental investigators faulted Chevron Inc. site managers in a report released Wednesday on a natural gas well fire in western Pennsylvania that killed one worker. The Pennsylvania Department of Environmental Protection report said that a contract worker with no oil field experience worked on the well, contrary to company policy, and that the February fire may have been caused by human error when a lock screw was ejected from the well, allowing high-pressure methane gas to escape.
Reported by SeattlePI.com 2 hours ago.
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