World’s largest electronics manufacturer, Samsung, and six other LCD screen manufacturers have settled claims they conspired to fix prices. The firms were accused in 8 US states of working together to raise the price of screens for TVs and computers.

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US consumer confidence rose for the second month in a row, to an eight-month high in December, new data suggests. The Conference Board Consumer Confidence Index rose almost 10 points to 64.5 in December, up from a revised 55.2 in

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Sears Holdings, the department store group which owns the two major retail chains, blamed falling sales. In the eight weeks to Christmas Day, sales at Kmart fell 4.4% and by 6% at Sears. The company, which has 2,200 outlets in the US, says

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Stores may have attracted shoppers early with fat discounts last week, but the shopping bonanza came with a price, according to data released by a research firm late Thursday. ShopperTrak, a Chicago-based firm, said more customers shopped

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Massachusetts is suing five major banks alleging “illegal” and “deceptive” conduct in the way they seized homes during the financial crisis. Bank of America, JP Morgan, Wells Fargo, Citigroup, and GMAC must pay for the “harm” caused, the writ says.

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India’s biggest drugmaker, Ranbaxy, has won an approval from authorities to sell its version of the world’s best-selling medicine in the US. The US Food and Drug Administration (FDA) has granted it permission to sell a generic version of anti-cholesterol drug Lipitor.

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