Search Results for: regulators
U.S. Sues Southwest to Recover Civil Penalty Tied to Aircraft Maintenance
November 5th, 2014
Typically Airlines, FAA Negotiate to Reduce Penalties, But Sides Couldn’t Agree in This Case The Justice Department sued Southwest Airlines Co. in an effort to recover a $12 million civil penalty proposed by aviation regulators in July related to allegations of ...
Sprint’s CEO faces mounting challenges to turn company around
November 5th, 2014
When Marcelo Claure took the top job at Sprint Corp (S.N) two months ago, he faced an uphill climb in turning around the No. 3 U.S. cellular provider. On Monday, it became clear quite how steep that road to ...
Sysco shares fall as merger hits a snag
November 4th, 2014
Sysco, US’s biggest food distributor to restaurants, is trying to save its $3.5 billion merger with its closest rival US Foods. The company is in talks with the No. 3 distributor, Blackstone Group-owned Performance Food Group, about selling it ...
P&G Suit, Apple, U.K. Museums, GE: Intellectual Property
November 4th, 2014
Procter & Gamble Co. (PG) has settled a patent-infringement case with makers and distributors of tooth-whitening strips, according to an Oct. 31 filing in federal court in Cincinnati. In the filing, the parties agreed that tooth-whitening strips made by ...
JPMorgan: Feds pursue criminal forex probe
November 4th, 2014
JPMorgan said it faces a criminal probe of its foreign exchange business and boosted its legal budget by $1.3B. JPMorgan Chase (JPM) disclosed Monday that the New York-based global bank is in talks with the Department of Justice over ...
China Expands Access to $4.3 Trillion Interbank Bond Market
November 3rd, 2014
China is opening its 26.31 trillion yuan ($4.3 trillion) interbank bond market to non-financial firms after tightening trading rules following a crackdown on illegal transactions. Qualifying participants will require minimum net assets of 30 million yuan and use a ...
HSBC sets aside $378 million for FX probe settlement
November 3rd, 2014
HSBC Holdings (HSBA.L) set aside $378 million to pay a potential fine from the UK regulator for alleged manipulation of currency markets, as Europe’s biggest bank reported a 12 percent fall in underlying earnings after costs rose. HSBC on ...
RBS Leans Towards Naming EY As New Auditor
October 31st, 2014
Royal Bank of Scotland (RBS) is leaning towards appointing the smallest of the big four accountancy firms as its new auditor, a move that would spell the end of its relationship with Fred Goodwin’s erstwhile employer. RBS is closing ...
Sterling Lads Chats Show FX Traders Matching Fix Orders
October 30th, 2014
“Any fix quid?” a currency trader at Barclays Plc asked a counterpart at HSBC Holdings Plc at 2:25 p.m. on June 23, 2011. “Get 50 cable on fix,” he said as he tried to sell British pounds. “Nothing as ...
Barclays Third-Quarter Profit jumps, sets aside FX probe
October 30th, 2014
Barclays Plc (BARC), the U.K.’s second biggest bank by assets, said third-quarter profit unexpectedly rose in the third quarter as the bank set aside 500 million pounds ($799 million) to settle probes into currency markets. Adjusted pretax profit rose ...
