Business

Raytheon Company developing two-foot missiles that could arm small drones within months

July 13, 2012

“That would open new worlds of possibility for the U.S. drone arsenal. Alternatively, the existing, large killer drone fleet could carry far more weapons than they currently do.”

Read the full article →

Wells Fargo agrees to pay $175 million to settle a discrimination lawsuit brought by minority borrowers

July 12, 2012

“The DOJ accused Wells Fargo, the nation’s largest residential home mortgage originator, of pushing African-American and Hispanic borrowers into more costly subprime loans or charging them higher fees than comparable white borrowers.”

Read the full article →

Data breach leads to the theft of 450,000 Yahoo Voice passwords

July 12, 2012

“Even worse, all the passwords were stored unencrypted, or in “plaintext,” right out there for anyone to read.”

Read the full article →

Report: Over 20 banks in 7 countries have been implicated in the LIBOR rigging scandal

July 7, 2012

“Investigations by regulators in several countries, including Canada, America, Japan, the EU, Switzerland and Britain, are looking into allegations that LIBOR and similar rates were rigged by large numbers of banks.”

Read the full article →

Wells Fargo Regional Chief Invesment Officer: June Jobs numbers put Quantitative Easing 3 back on the table

July 6, 2012

“The stock market, where futures had been essentially flat before the jobs number was released at 8:30 am ET, fell sharply, though that disappointment could be tempered by hopes of more stimulus from Washington.”

Read the full article →

Report: Countrywide Financial Corp made hundreds of discount loans to buy influence in the U.S. Government

July 6, 2012

“The report, obtained by The Associated Press, said the discounts – from January 1996 to June 2008 – were not only aimed at gaining influence for the company but to help Fannie Mae.”

Read the full article →

Britain’s Serious Fraud Office opens an investigation into attempts to fix the LIBOR

July 6, 2012

“The FSA has been providing information to the SFO and has already made it clear that Barclays is not the only bank under investigation for civil sanctions such as fines of the kind imposed on Barclays.”

Read the full article →

The City of Detroit considers a Zombie Theme Park to revitalize tourism

July 5, 2012

“The zombie theme park of Detroit is the brainchild of entrepreneur Mark Siwak, who believes that “radical thinking” and “creativity” could help bring much-needed jobs and tourists to the city.”

Read the full article →

Regulators release “living wills” for banks to help resolve the “too big to fail” problem

July 4, 2012

“The banks generally state in their resolution summaries that — in the unlikely situation they don’t have enough capital in subsidiaries to cover claims — money could be raised “by divesting in any of our lines of business,” as the summary for JPMorgan Chase stated.”

Read the full article →

Twitter to publish biannual reports about U.S. and Foreign Governments’ demands for user information

July 4, 2012

“The first batch of data posted Monday on Twitter’s website shows the online messaging service processed 849 government requests about its users during the first half of this year. Twitter says it gave officials at least part of what they wanted 63 percent of the time.”

Read the full article →

General Motors shares close at $19.57, the lowest price in 2012, raising taxpayers’ loss to $35 billion

July 3, 2012

“The Treasury still owns 26.5% of GM, or 500 million shares. Taxpayers are still out $26.4 billion in direct aid. Shares would have to hit $53 for the government to break even.”

Read the full article →

Purdue Pharma seeking FDA approval to label the painkiller OxyContin for use by children as young as 6

July 3, 2012

“The pharmaceutical company earned an estimated $2.8 billion in revenue last year from sales of the powerful opioid, part of the same drug family as morphine and heroin.”

Read the full article →

Pharmaceutical Corporation GlaxoSmithKline settles a healthcare fraud case for $3 billion

July 2, 2012

“GSK targeted the antidepressant Paxil to patients under age 18 when it was approved for adults only, and it pushed the drug Wellbutrin for uses it was not approved for, including weight loss and treatment of sexual dysfunction.”

Read the full article →

News Corp board approves plan to split the company into two separate entities

June 29, 2012

“Murdoch will serve as chairman of both new companies and CEO of the entertainment company. The Murdoch family, which controls nearly 40 percent of the voting shares in News Corp., is expected to maintain control of both companies.”

Read the full article →

Britain’s Financial Services Authority (FSA) fines Barclays Bank £59.5 million ($93.5 million) for misconduct

June 27, 2012

“This is the largest fine ever imposed by the FSA.”

Read the full article →
Page 20 of 42« First...10...1819202122...3040...Last »