SunEdison at risk of bankruptcy, unit says; shares plummet 60 percent
(Reuters) – U.S. solar energy company SunEdison Inc , whose aggressive acquisition strategy has saddled it with almost $12 billion of debt, is at “substantial risk” of bankruptcy, one of its two publicly listed units warned on Tuesday.
Wall Street hits 2016 high after Yellen delivers
(Reuters) – The S&P 500 closed at its highest in 2016 on Tuesday after Federal Reserve Chair Janet Yellen called for caution on raising interest rates – music to Wall Street’s ears.
Exclusive: Novartis investigating $85 million bribery allegations in Turkey
LONDON (Reuters) – An anonymous whistleblower has accused Swiss drugmaker Novartis of paying bribes in Turkey through a consulting firm to secure business advantages worth an estimated $85 million, according to a Feb. 17 email seen by Reuters.
Wells Fargo to pay $8.5 million for California privacy violations
(Reuters) – A Wells Fargo & Co unit will pay $8.5 million to California and five of the state’s counties to settle charges that it violated customers’ privacy by recording their calls without first notifying them, state prosecutors said on Tuesday.
Probe of Exxon’s climate change disclosures expands
WASHINGTON (Reuters) – The attorneys general of Massachusetts and the U.S. Virgin Islands said on Tuesday they will investigate whether Exxon Mobil Corp misled investors and the public about the risks of climate change, joining counterparts in New York…
Casino agent in Philippines says high-rollers brought in heist money
MANILA (Reuters) – A Chinese junket operator in Manila said on Tuesday that two high-rollers from Beijing and Macau were responsible for bringing $81 million stolen by hackers from Bangladesh’s central bank into the Philippines.
Deere acquires stake in U.S. leader in high-clearance sprayers
(Reuters) – Deere & Co said on Tuesday it has acquired a majority stake in Hagie Manufacturing, allowing the farm and construction machinery manufacturer to enter the high-clearance sprayer market.
U.S. FTC sues Volkswagen over diesel advertising claims
WASHINGTON (Reuters) – The U.S. Federal Trade Commission on Tuesday sued Volkswagen Group of America, saying the U.S. arm of the German automaker falsely advertised more than a half million diesel vehicles as environmentally friendly when it knew they …
NBC sells $1 billion in ads for Rio Olympics
(Reuters) – NBC, a unit of Comcast Corp , said it had sold $1 billion in national ads for the Summer Olympics in Rio de Janeiro, as the network prepares to broadcast a rare Games where some of the most high-profile contests will air live in prime time …
Exclusive: UBS, Credit Suisse interested in advising on Russia privatization – sources
MOSCOW (Reuters) – Swiss banks UBS and Credit Suisse are interested in advising the Russian government on several privatizations as long as the deals do not violate sanctions, three banking sources told Reuters.
