LEGAL



FTC says it has settled Intel antitrust case



Computer chip giant Intel has settled its antitrust case with the Federal Trade Commission, according to the agency, which will announce the specifics of the deal Wednesday morning.

Rather than go to trial, the two sides have agreed to a settlement. The agency sued Intel in December, charging that the firm illegally used its dominance in the chip market to strong-arm computer makers into using their microprocessors, rather than those made by rivals including Advanced Micro Devices.

Intel spokesman Chuck Mulloy declined to comment Tuesday.

Late last year, Intel reached a $1.25 billion settlement with AMD in a private lawsuit that alleged antitrust and patent-licensing violations.

-- Jia Lynn Yang

LENDING

Ally posts profit, expects 2011 IPO



Ally Financial said Tuesday it expects to hold an initial public offering next year after posting a second-quarter profit of $565 million, driven by improvements in its home mortgage business and more demand for auto loans.

The results compare with a loss of $3.9 billion in the second quarter last year, said the consumer lender, which is 56 percent owned by the U.S. government. Ally's operations are seen by the government as vital to General Motors and Chrysler, which also received billions of dollars in federal aid.

Ally, formerly called GMAC Financial Services, reported a profit at its mortgage operations following a staggering loss of $1.34 billion last year. Its automotive financing and insurance lines posted higher income. Net revenue rose by 67 percent to $2.1 billion.