Financial Crisis, Real Estate | featured news

The Justice Department and state prosecutors plan to file civil charges against Standard & Poor’s Ratings Service, accusing the firm of fraudulently rating mortgage bonds that led to the financial crisis, people briefed on the plan said.

Citigroup said on Wednesday that it had agreed to pay $590 million to settle a class action lawsuit brought by shareholders who contended that they had been misled about the bank’s exposure to subprime mortgage debt on the eve of the financial crisis.

In Vietnam’s major cities, a once-booming property market has come crashing down, adding to an economic slowdown that is being compared to the 1997 Asian financial crisis.