Justice Department Blocks GE, Electrolux Deal

The Justice Department filed an antitrust lawsuit to stop Electrolux from buying GE’s appliance business. Official says “proposed acquisition would leave millions of Americans vulnerable to price increases.”

WSJ: J.P. Morgan Said to Offer U.S. $3B to Settle Cases

The Wall Street Journal reported that J.P. Morgan Chase and the Justice Department have expanded settlement talks to include multiple pending probes, with the bank offering to pay about $3 billion, according to people familiar with the discussions.

WSJ: U.S. Challenges Merger of AMR, US Airways

The WSJ reported that the DOJ challenged the $11 billion merger of American Airlines and US Airways Group. The lawsuit filing said the deal would hurt airline competition due to the recent waves of consolidation.

JPMorgan Faces Criminal Probe Tied to MBS Sales

Bloomberg reported that JPMorgan is under federal criminal investigation for practices tied to sales of mortgage-backed bonds that the Justice Department has already concluded broke civil laws.

S&P Investigation Tagged With Codename ‘Alchemy’

In a speech announcing the U.S. government’s lawsuit against S&P, Acting Associate Attorney General Tony West provides background and insights into the investigation that was tagged with the codename “Alchemy” by the Justice Department.