MBIA Inc. (MBI) announced Monday that it and its subsidiaries MBIA Insurance Corp. and National Public Finance Guarantee Corp. agreed to the terms of a comprehensive settlement agreement with Bank of America (BAC) and certain of its subsidiaries. MBIA Corp. will receive a net payment of about $1.7 billion.
MBIA spiked sharply to the upside around midday Monday and finished with a gain of 4.46 at $14.29 on the highest volume of the year. The stock surged past resistance and set a new high for the year.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.