Financial news on April 21, 2012

Business and Financial news
Amid Proxy Fight, Canadian Pacific Profit Rises

The Canadian Pacific Railway reported Friday that it had a first-quarter profit of 142 million Canadian dollars, a 318 percent increase from the same period a year before. Read more..

By IAN AUSTEN - The New York Times

Bank of America Accord in Lawsuit Is Challenged

Plaintiffs leading a class-action lawsuit in Delaware against the directors of Bank of America over its purchase of Merrill Lynch challenge a settlement in a parallel suit in Manhattan; Delaware plaintiffs claim that lawyers in the Manhattan case, who have agreed to settle the matter for $20 million even though damages in the case could reach $5 billion, engaged in collusion. Read more..

By GRETCHEN MORGENSON - The New York Times

Earnings Help Markets, but Day Ends Mixed

Stock market suffers moderate declines as a downturn in bank and technology shares is partially offset by solid earnings from McDonald’s, General Electric and Microsoft. Read more..

By REUTERS - The New York Times

Google Ordered to Stop Copyright Violations on YouTube

A judge in Germany said in his ruling that Google was not directly responsible for material uploaded illegally, but said it should create a filter to eliminate violations. Read more..

By KEVIN J. O'BRIEN - International Herald Tribune

Home-Sharing? Don’t Ignore Liability

Ron Lieber Your Money column explores the benefits of renting out homes to out-of-town guests; notes that industry, in which company Airbnb is a major player, has promise, but warns that many insurance policies contain clauses exempting the insurer from liability if homes are rented out. Read more..

By RON LIEBER - The New York Times

Retail Sales Recover, Mostly, From Recession

Floyd Norris Off the Charts column explores the ramifications of Census Bureau report finding that seasonally adjusted retail sales increased by 0.8 percent in March; argues that American consumers seem to be spending again, except on products dependent on home sales. Read more..

By FLOYD NORRIS - The New York Times

Tackling Real Estate in a Do-It-Yourself Approach to I.R.A.’s

Paul Sullivan Wealth Matters column evaluates the merits of using a self-directed IRA that invests in real estate; concludes that strategy offers an opportunity to earn more money for retirement, but requires more work by the investor and close attention to tax rules. Read more..

By PAUL SULLIVAN - The New York Times

US Airways Strikes Deal While It Eyes American

US Airways announces that it has reached an agreement with the three main labor unions at American Airlines to support a potential merger between the carriers; move is largely symbolic, intended to inject US Airways chief executive Doug Parker into American's bankruptcy proceedings, and to present the merger as an alternative plan for the company's creditors. Read more..

By JAD MOUAWAD - The New York Times

Wal-Mart Hushed Up a Vast Mexican Bribery Case

Confronted with evidence of widespread corruption in Mexico, top Wal-Mart executives focused more on damage control than on rooting out wrongdoing, an examination by The New York Times found. Read more..

By DAVID BARSTOW - The New York Times

See what else happened on April 21, 2012