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Bank of America Corporation (NYSE:BAC): According to The Gibbs & Bruns law firm, which is the law firm that reached a major settlement with Bank of America (NYSE:BAC) regarding allegedly defective mortgage bonds, stated that both Wells Fargo (NYSE:WFC) and Morgan Stanley (NYSE:MS) were not successful in performing their duties servicing $73 billion in securities, Reuters reports.
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Alexandria Real Estate Equities Inc. (NYSE:ARE) has announced that Roche Holding Ltd intends to establish its new Translational Clinical Research Center (TCRC) at the Alexandria Center for Life Science, located in New York City. This is to be the mission-critical presence for Roche Pharma Research and Early Development (PRED) in the U.S. The TCRC is located in the center of the East Side Medical Corridor, and the Alexandria Center for Life Science intends to give Roche critical adjacency in New York City to the nine major academic medical centers along with its various continuing clinical trials. An 11-year lease has been signed by Roche, which anticipates the moving of its TCRC team to the nearly 421,000 square foot West Tower of the Alexandria Center for Life Science, predicted to be delivered in 4Q 2013.
Toyota Motor Corporation (NYSE:TM): General Motors (NYSE:GM) continues its attempts to catch up to Toyota as far as customer retention goes, according to The Detroit News, noting that GM predicts that for every 1 percent increase in retention there would be a $700 million net revenue gain. Toyota’s loyalty rate is nearly 58 percent, when it is compared to GM’s rate which has not been specified but was suggested as being near the industry average of 52 to 53 percent.
GMAC LLC (NYSE:GOM) prepares to bid during the week for Ally Financial Inc. (ALLY)’s auto-lending arms located in Europe and Latin America, according to three individuals with knowledge of the matter. GM will not pursue an offer for either Ally’s Canadian operations or its Mexican auto insurer. In May, Ally placed its non-U.S. operations for sale to assist in the repayment of a U.S. government bailout. Ally requested that companies submit bids by Sept. 21 after it received nearly 30 indications of interest during July. General Motors Co. owned Ally Financial Inc.’s predecessor, GMAC, until 2006, when the automaker sold 51 percent of it to Cerberus Capital Management LP. An acquisition of the units would double GM Financial’s asset.
Apple Inc. (NASDAQ:AAPL): Unwired Planet, Inc. (UPIP) announced the filing of patent infringement complaints against both Apple and Google (NASDAQ:GOOG) in the U.S. District Court for the District of Nevada. These suits were filed by Unwired Planet for the protection of its intellectual property licensing business. There are two separate complaints filed in Reno, Nevada, and Unwired Planet charges Apple on both with infringing upon 10 patents, and it alleges that Google infringed upon 10 different patents. The two cases together charge that there has been infringement on a total of 20 patents in relation to smart mobile devices, cloud computing, digital content stores, push notification technologies, and location-based services like mapping and advertising.
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