Search Results for: FED
The Global Economy’s Groundhog Day
August 8th, 2014
In the movie “Groundhog Day,” a television weatherman, played by Bill Murray, awakes every morning at 6:00 to relive the same day. A similar sense of déjà vu has pervaded economic forecasting since the global economic crisis began a ...
Pfizer faces lawsuits over Lipitor
August 8th, 2014
Pharmaceutical giant Pfizer is facing a large amount of lawsuits from women who claim that the firm was aware that its anti-cholesterol drug Lipitor was causing possible serious side effects. The number of lawsuits has tremendously risen during the ...
Arab Bank Plc in trial in the U.S. for financing Hamas
August 8th, 2014
Arab Bank Plc ARBK.AM faces accusations that it provided material support to the Palestinian group Hamas. The bank will go under trial next week in New York making it the first financing case in the United States. The Jordan-based ...
Hyundai pays $17.35M fine for brake recall delay
August 8th, 2014
The National Highway Traffic Safety Administration announced that a $17.35 million fine was charged to Hyundai due to its delayed respond to report a brake defect in 2009 for 20012 Genesis luxury sedans. NHTSA reported six crashes while the ...
Are banks looking at a shrunken future?
August 7th, 2014
Amid the hundreds of billions of bad-credit write-downs and the multibillion- dollar settlements with government watchdogs since the 2008 financial collapse, it’s easy to lose sight of what good shape banks are in. The leftover business from the crash ...
Lloyds Sued by 220 Investors Over HBOS Takeover ‘Folly’
August 7th, 2014
Lloyds Banking Group Plc (LLOY) was sued by 220 investors who said they were misled into supporting a 2008 takeover of HBOS Plc that prompted a 20 billion-pound ($34 billion) bailout from the U.K. government. Britain’s biggest mortgage lender ...
Wylys Call SEC $750 Million Trial Demand a Miscalculation
August 7th, 2014
The lawyer for Samuel Wyly and the estate of Charles Wyly told a judge they shouldn’t have to pay regulators as much as $750 million after being found liable for using a web of offshore trusts to hide stock ...
ECB set to hold fire on rates, eyes risks from Ukraine conflict
August 7th, 2014
The European Central Bank is set to hold fire on rates on Thursday as it waits for earlier stimulus measures to gain traction, while keeping an eye on emerging risks from the conflict in Ukraine. The ECB cut interest ...
Bank of America, U.S. near record $17B settlement
August 7th, 2014
The Department of Justice and Bank of America have reached a record settlement in principle in which the bank will pay just under $17 billion to resolve allegations related to fraudulent marketing of mortgage-backed securities that helped cause the ...
Banks Must Show They Can Die Quietly
August 6th, 2014
The U.S. Federal Reserve and the Federal Deposit Insurance Corp. have just confirmed what most people already knew: The largest banks are far too complex and opaque for their own good, let alone for the good of the broader ...
