Bank of America (NYSE:BAC) nears a settlement with the Justice Department, and Google (NASDAQ:GOOGL) teams up with Barnes & Noble (NYSE:BKS) to take on Amazon.com (NASDAQ:AMZN).
Markets closed in the green just slightly on Wednesday. The Dow closed almost 14 points higher as geopolitical tensions continue to impact financial markets around the globe. Meanwhile, government bonds have climbed to record highs.
Bank of America is close to a settlement with the DOJ. The banking giant is expected to pay up to $17 billion to settle allegations that it marketed fraudulent mortgage backed securities, which helped cause the financial crisis.
The Wall Street Journal reports that if the deal goes through, this would be the largest ever civil settlement between the government and a company. The settlement is said to offer more than $7 billion in so-called relief to consumers.
And Google joins forces with Barnes & Noble. Bookworms in parts of Los Angeles, San Francisco and New York City can get same-day book delivery from Barnes & Noble stores through Google Shopping Express. It’s free for people who subscribe to the Google service. Otherwise it costs $4.99 per delivery.
This could be just what Barnes & Noble needs to fight sagging revenue numbers. The retailer has shut down 63 stores in the last five years.