No deal yet

Iowa Attorney General Tom Miller said a deal with the five biggest US mortgage servicers to resolve a probe of foreclosure practices won’t be reached this week.

BofA cuts

Bank of America Corp. may reduce annual costs by as much as an additional $3 billion in the next stage of CEO Brian T. Moynihan’s efficiency plan. The lender has already targeted $5 billion in expense cuts.

Inside deal

Diamondback Capital Management agreed to pay the SEC more than $9 million to settle charges of insider trading at the Stamford, Conn. hedge fund, and to avoid prosecution by the Justice Dpartment.

Tablet fever

The number of Americans owning a tablet computer or e-reader nearly doubled over the holidays, a Pew study found.

Stanford trial

Opening arguments are expected today in the oft-delayed Houston trial of financier R. Allen Stanford, accused of bilking investors out of $7 billion in a vast Ponzi scheme.