Business News: Mega Millions worth $400 million

(CBS) - You may want to get a lottery ticket, tonight's Mega Millions lottery drawing is worth an estimated $400 million dollars.

That's the second largest Mega-Millions total ever and the 5th largest lottery jackpot in U.S. history.

In October, the Mega Millions lottery revamped the game in order to produce larger jackpots.



(CBS) - Merrill Lynch will pay nearly $132 million dollars to settle charges that it misled investors about risky mortgage bonds.

The Securities and Exchange Commission accuses the Wall Street bank of marketing the mortgage bonds with misleading materials in 2006 and 2007.

The SEC claims those bad investments helped spark the 2008 financial crisis. 

(CBS) - The debate over cell-phone use on planes has expanded.

The FCC voted yesterday to hear public comment on the issue for a month before making its decision.

Meanwhile the transportation department, which oversees aviation, is considering a rule that would ban cell-phone calls, but allow passengers to surf the web or send and receive texts and e-mails.


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