Swansea City are through to the last 32 of the Europa League despite producing a lacklustre performance in losing 1-0 to St Gallen in Switzerland on Thursday. The Welsh side knew that a point in would secure their qualification for the knockout stages from Group A but instead a second-half Marco Mathys goal allowed the already-eliminated hosts to bow out on a high. Nevertheless, the defeat did not prevent the Swans from advancing as Kuban Krasnodar failed to get the victory they required away to Valencia in Spain to stand a chance of grabbing second place. Paraguayan Lorenzo Melgarejo scored to earn the Russians a 1-1 draw after Paco Alcacer put group winners Valencia ahead at the Mestalla, but Kuban bowed out.
Bank of America agreed to pay $131.8 million for Merrill Lynch misleading investors about mortgage-linked securities in 2006 and 2007, the federal regulators announced Thursday. The charges announced by the Securities and Exchange Commission applied to Merrill Lynch, before it was acquired by Bank of America in 2009. According to the SEC, Merrill Lynch did not disclose to investors that a hedge fund, Magnetar Capital LLC, had significant input in the selection of collateral for a pair of complex security vehicles Merrill structured and marketed to investors. The SEC also charged Merrill with keeping inaccurate records about its participation in a third investment vehicle.