Political fraud case: Lagarde 'under investigation'
2014-08-27 10:55:47 UTC
IMF head Christine Lagarde says she has been placed under formal investigation for negligence in a French fraud case but has not been charged.
She has been questioned several times about her role in a 400m euro ($527m) compensation payout to bu...
Switzerland's Roche to buy US biotech company InterMune
2014-08-25 04:50:00 UTC
The multibillion-dollar consolidation of the global pharmaceutical sector has seen another blockbuster deal after Switzerland's Roche agreed to buy US biotech company InterMune for $8.3bn (£5bn).
Roche, which makes influenza drug Tamiflu, said ...
BoA to pay $17bn settlement over questionable mortgages
2014-08-21 09:24:04 UTC
Bank of America has reached a record settlement of nearly $17bn to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter have said.
FINRA: Don’t Let Ebola Stock Scams “Infect Your Portfolio”
2014-08-15 22:39:27 UTC
Concerns about the Ebola virus and Middle East Respiratory Syndrome (MERS) have spread beyond the places where people have been infected. Wall Street has been exposed to them, so to speak, as investors speculate about where the next big thing is g...
How Pipeline King Richard Kinder Made $1 Billion Today
2014-08-12 00:53:16 UTC
America’s largest pipeline company is eating itself. Well, sort of.
Kinder Morgan (KMI), which operates some 80,000 miles of oil and gas pipelines through a network of separate entities strung together by its billionaire chairman and chief exec...
Putin Readies Retaliatory Measures Against Sanctions
2014-08-05 19:05:21 UTC
President Vladimir Putin said Tuesday the Kremlin is readying retaliatory measures against the Western sanctions imposed on Russia over the conflict in Ukraine, Russian news agencies reported Tuesday.
"This must be done very carefully, to suppo...
Wall Street Frets That You're Getting Paid Too Much
2014-08-05 08:04:38 UTC
Wall Street money managers are worried about two things: that they won’t get paid enough and that ordinary Americans will get paid too much.
The fight over who gets what from the bonus pool is an unseemly annual rite at Wall Street firms. Last ...
US: 200,000 jobs a month for six months in a row
2014-08-01 22:22:00 UTC
The US added another 209,000 new jobs in July, the sixth straight month of 200,000 plus jobs growth, as the unemployment rate inched up to 6.2%.
The figure was slightly weaker than expected but still marks the first time since 1997 that the US ...
Banks accused of rigging silver price
2014-07-28 07:18:06 UTC
Deutsche Bank, HSBC and Bank of Nova Scotia have been accused of attempting to rig the price of silver, in a lawsuit filed in the US.
The plaintiff alleges the banks, which set the price of silver each day, abused their position in the market.
US lifts ban on flights to Tel Aviv
2014-07-24 07:17:03 UTC
The US aviation regulator has lifted its ban on US carriers flying to Tel Aviv's Ben Gurion airport.
But it has warned that the situation with the conflict in Gaza remains "very fluid".
The US Federal Aviation Administration (FAA) first impo...
Expert’s Warning: Israel’s Iron Dome Isn’t Working
2014-07-22 06:19:11 UTC
“We’re not trying to bash Iron Dome,” says weapons scientist Richard Lloyd, author of a research paper that calls into question the effectiveness of Israel’s now famous rocket-defense system. “We’re trying to help Iron Dome. The way to help Iron D...
Microsoft Cuts 18,000 Jobs | Its Biggest Ever Cuts
2014-07-17 14:07:34 UTC
Microsoft confirmed it will cut up to 18,000 jobs over the next year, part of the tech titan's efforts to streamline its business under new CEO Satya Nadella.
In a statement released Thursday, Microsoft says about 12,500 of the professional and...
How Germany's 14-Year Plan Destroyed Brazil
2014-07-11 19:39:40 UTC
By the end it was hard to watch Germany’s 7-1 demolition of Brazil. Poor Andre Schürrle, the substitute who came in at striker for Germany in the second half, couldn’t quite celebrate his two goals the way Thomas Müller had when he scored the firs...
Putin’s Economic Model Showing Strain
2014-06-27 18:50:56 UTC
Russia warned Ukraine today that it faces “grave” economic consequences, including potential new restrictions on trade, after President Petro Poroshenko signed a free-trade agreement with the European Union.
Such retaliation would certainly har...
Barclays bank sued by New York
2014-06-25 22:54:47 UTC
The New York attorney general has sued Barclays, accusing the British bank of misrepresenting the safety of its US-based alternative trading system, or "dark pool", to investors.
Eric Schneiderman said on Wednesday that contrary to its own assu...
US manufacturing grows faster than expected in June
2014-06-24 06:30:33 UTC
The US manufacturing sector grew faster than expected in June reaching levels unseen in four years, according to a key industry report released on Monday.
After shaking off the after effects of the US's unusually harsh winter, financial data fi...
Federal Reserve cuts growth forecasts
2014-06-19 05:38:13 UTC
The Federal Reserve insisted that the US economy is strong enough to withstand a cut to its stimulus program, despite being forced once again to cut its growth forecasts.
In its updated economic forecast on Wednesday, the Federal Reserve's pict...
GM recalls 3.2 million more cars over ignition concerns
2014-06-17 08:33:53 UTC
General Motors (GM) is recalling 3.16 million more cars in the US because of ignition switch problems, and will change or replace keys on the cars, which date from 2000 to 2014.
Switches can move out of the run position if cars are jarred, and ...
EU launches investigation into Apple and Starbucks tax deals
2014-06-11 17:40:22 UTC
The European Union has launched investigations into whether tax deals offered to Apple, Starbucks and Fiat by three EU countries violate competition law. The probes will focus on "transfer pricing."
The European Union's antitrust regulator said...
G7 leaders willing to step up sanctions on Russia
2014-06-05 08:28:31 UTC
The leaders of the Group of Seven (G7) issued their joint statement on Wednesday evening, calling upon Russia to take concrete measures to calm the situation in Ukraine's east - or face the consequences.
"We stand ready to intensify targeted sanc...
After EU elections - Business as usual?
2014-05-28 12:30:14 UTC
The euro barely showed any reaction at all to the outcome of the elections for the EU parliament. At 1.36, the exchange rate for the dollar was almost the same on Monday morning as it was on Friday - two days before the polls.
In fact, most marke...
Russia has signed a long-term deal to supply natural gas to China
2014-05-21 21:49:06 UTC
Gazprom said on Wednesday that the Russian gas company had inked a long-awaited 30-year contract to supply natural gas to China.
"This is the biggest contract in the history of the gas sector of the former USSR," Russian President Vladimir Putin ...
Investors unhappy: AstraZeneca rejects 'final' Pfizer bid
2014-05-19 16:41:35 UTC
AstraZeneca has rejected Pfizer's £69bn takeover approach, saying the bid undervalues the UK company and poses too many risks.
AstraZeneca's shares tumbled 13% to £42.04 on the news, wiping about £8bn off the company's market value as investors...
Hyperinflation Idea: Printing Money for aid
2014-05-12 07:00:58 UTC
In much of the Western world, two highly successful economic policy initiatives are coming to an end. Quantitative easing, the creation of money by central banks to purchase financial assets, is likely to have run its course in most countries by t...
IMF says sanctions are hurting Russian economy
2014-04-30 09:27:57 UTC
<h3>IMF mission chief says 'Russia is experiencing recession now'</h3>(Reuters) - The International Monetary Fund's mission chief to Moscow said on Wednesday Russia was "experiencing recession" and that a resolution of the Ukraine crisis would sig...