Bond insurer MBIA Inc and Bank of America Corp have reached a settlement in an ongoing legal dispute, and BofA will pay MBIA $1.6 billion, sources familiar with the matter said on Monday.

Bond insurer MBIA Inc and Bank of America Corp have reached a settlement in an ongoing legal dispute, and BofA will pay MBIA $1.6 billion, sources familiar with the matter said on Monday.

A wind-driven wildfire raged along the California coast north of Los Angeles early on Friday, threatening some 3,000 homes and prompting evacuations of a university campus and several residential areas.

Warren Buffett is an avowed avoider of high technology, but even the world's most famous investor cannot dodge Twitter.

Warren Buffett is an avowed avoider of high technology, but even the world's most famous investor cannot dodge Twitter.

Ambac says it could exit bankruptcy this week after it received court approval of a $101.9 million settlement with the IRS.

Ambac says it could exit bankruptcy this week after it received court approval of a $101.9 million settlement with the IRS.

Bond insurer MBIA is working with law firm Weil Gotshal & Manges as it seeks to avoid possible rehabilitation of its structured finance unit by a New York regulator, says a source familiar with the matter.