The amount Rabobank is paying includes $325 million in an agreement with the U.S. Justice Department that allows the bank to avoid criminal prosecution in exchange for its continued cooperation in the investigation of major banks' conduct regarding LIBOR.
The authorities said Tuesday that Rabobank, one of the world's largest banks, engaged in rigging of the London interbank offered rate, or LIBOR, from 2005 to 2011.
Health insurer Aetna's 3Q profit rises 4 percent
A multi-billion dollar deal helped fuel third-quarter earnings growth for Aetna Inc., but the performance missed expectations, and shares slid Tuesday after it became the latest big health insurer to warn about challenges that lie ahead.
Chairman and CEO Mark Bertolini told analysts that the Hartford, Conn., insurer is committed to growing operating earnings next year, and it expects the floor for its performance to be around where it finishes this year.
But Aetna also expects to pay about $600 million toward a health insurance fee required as part of the health care overhaul, and it faces a Medicare Advantage funding cut also mandated by the law, which aims to fund coverage for millions of uninsured people over the next few years.
LinkedIn posts 3Q net loss but revenue grows
NEW YORK (AP) a¿¿ LinkedIn Corp. posted a loss for the third quarter on Tuesday, but the results were stronger than expected as the professional networking service boosted its user base and increased its revenue.
Such results have become routine for the company. LinkedIn has surpassed Wall Street's expectations in all of its quarters as a publicly traded company and this one was no exception. But its outlook was below estimates and its shares fell in extended trading.
LinkedIn booked a loss of $3.4 million, or 3 cents per share, in the July-September period. It had earned $2.3 million, or 2 cents per share, in the same period a year earlier. Adjusted earnings were 39 cents per share in the latest quarter, beating analysts' expectations by 7 cents.