Bank settles

Morgan Stanley agreed yesterday to a nearly $103 million settlement with Massachusetts investiga tors who alleged the in vestment bank backed subprime lending that it knew to be risky.

Retail vet

Authentic Brands Group — an investment firm focused on con sumer labels that was re cently formed by Jamie Salter — has named retail veteran Perry Wolfman as its president and COO.

Freddie falls

Freddie Mac said yes terday that almost all mortgage rates fell to re cord lows with the 30-year fixed-rate mort gage at 4.69 percent, with an average 0.7 point for the week ending June 24.

Stocks tumble

US stocks fell, sending the S&P 500 to its longest losing streak in seven weeks, down 18.35 to 1,073.69. The Dow Jones industrial average fell 145.64, to 10,152.80 and the Nasdaq tumbled 36.81 to 2,217.42.

Twitter suit

The FTC said yester day popular social-net working service Twitter agreed to settle charges that it deceived consum ers and put their privacy at risk by failing to safe guard their personal in formation.