Search Results for: EC
AIG settles bailout-era lawsuit for $960m
August 5th, 2014
AIG agreed to pay $960m to resolve a shareholder lawsuit that had demanded compensation for the collapse in the insurance group’s value when it was bailed out by the US government in 2008. Shareholders led by the state of ...
Asia stocks steady after Wall Street rally, dollar off peaks
August 5th, 2014
Asian stocks slipped on Tuesday after a survey showed China’s services sector growth fell to a record low, souring the positive mood from upbeat U.S. earnings and relief over Portugal’s rescue of its largest bank. Spreadbetters saw Europe faring ...
LinkedIn, U.S. Labor Dept settle overtime case for $6 million
August 5th, 2014
LinkedIn Corp (LNKD.N) agreed to pay about $6 million in back overtime and damages to 359 current and former employees after a U.S. Department of Labor investigation found the online career networking company violated the country’s wage law. In ...
Alibaba Has a Computing Cloud, and It’s Growing, Too
August 5th, 2014
Alibaba, the Chinese e-commerce giant, has a growing cloud computing business and a hunger for American companies. And soon, it will most likely have a large amount of cash. Will it take on the American cloud giants? It would ...
JPMorgan’s Top Retail Banking Lawyer Biben Said to Depart
August 5th, 2014
Matthew Biben, general counsel for JPMorgan Chase & Co. (JPM:US)’s retail-banking operations, has left after three years at the firm, a person with knowledge of the move said. Jill Centella, global litigation head for the New York-based lender, was ...
Summer Gas Prices Down Despite Geopolitical Turmoil, Higher Demand
August 5th, 2014
The American Automobile Association (AAA) has reported that the average pump price of a gallon of gasoline was $3.52 at the end of July, the lowest since March. In fact, July prices dropped more than they have in six ...
Walgreens CFO exits ahead of tax inversion news
August 5th, 2014
Walgreens announced Monday that the company is replacing Chief Financial Officer Wade Miquelon, a move that comes just as the Deerfield, Ill., drugstore chain plans to announce a decision on whether they will nominally move its headquarters overseas to ...
PayPal co-founder Levchin, Affirm want to disrupt credit biz
August 5th, 2014
If you’ve got your eye on a purchase that your credit score says you can’t quite afford, Max Levchin may be able to help. After a brief stint as a Google executive, the PayPal co-founder is back in the ...
HSBC bank’s half-year profits fall by 12%
August 4th, 2014
HSBC’s pre-tax profits fell by 12% in the first half of 2014 compared with the same period a year before. Profits were $12.34bn (£7.33bn), from $14.071bn twelve months earlier. During the half-year, the bank also put aside some $234m ...
Credit Suisse AG pays $88,400 infringement notice penalty
August 4th, 2014
The Australian Securities and Investments Commission has published the following announcement regarding a fine charged against Credit Suisse AG: Credit Suisse AG (“Credit Suisse”) has paid a penalty of $88,400 to comply with an infringement notice given to it ...
