GM ignition-switch plaintiff retains criminal attorney mid-trial
NEW YORK (Reuters) – An Oklahoma man suing General Motors in the first trial in federal litigation over its massive engine switch recall has hired a criminal defense attorney after the carmaker accused him and his wife of making misleading statements i…
Lockheed releases stand-alone financial data for Sikorsky
WASHINGTON (Reuters) – Lockheed Martin Corp released data on Wednesday for Sikorsky Aircraft that showed the company it acquired from United Technologies Corp for $9 billion in November generated a net profit in the first three quarters of 2015.
Wall Street tumbles to 2014 low as oil prices sink
(Reuters) – Wall Street’s recent selloff deepened on Wednesday, with the S&P 500 closing at its lowest in over a year as U.S. oil prices plummeted to 2003 lows.
Viacom cut pay for Redstone, CEO Dauman in 2015
BOSTON (Reuters) – Media giant Viacom Inc said on Wednesday it cut the compensation of its top two executives, Executive Chairman Sumner Redstone and Chief Executive Philippe Dauman, as the company faced business pressures and a sharp drop in its share…
Oil plumbs new lows below $27 as oversupply woes persist
NEW YORK (Reuters) – U.S. oil prices crashed below $27 dollars a barrel on Wednesday for the first time since 2003, caught in a broad slump across world financial markets with traders also worried that the crude supply glut could last longer.
U.S. congressional committee subpoenas ex-drug CEO Shkreli
WASHINGTON/NEW YORK (Reuters) – A U.S. congressional committee has demanded that former drug executive Martin Shkreli appear at a hearing on drug prices to testify about his former company’s decision to raise the price of a lifesaving medicine by more …
Kinder Morgan swings to loss on $1.15 billion charge
(Reuters) – U.S. pipeline giant Kinder Morgan Inc swung to a fourth-quarter loss, hurt by a $1.15 billion in impairment charges due to falling commodity prices.
News Corp denies rumors of Twitter bid
(Reuters) – Rupert Murdoch’s News Corp said rumors about the company’s interest in buying microblogging site Twitter Inc or building a stake in it were untrue.
Weak U.S. inflation, housing data lower March rate hike chances
WASHINGTON (Reuters) – U.S. consumer prices unexpectedly fell in December as the cost of energy products and food declined, offering signs of weak inflation that further diminish expectations of a Federal Reserve interest rate hike in March.
DoubleLine’s Gundlach: Stock, credit declines suggest margin calls
NEW YORK (Reuters) – Jeffrey Gundlach, co-founder and chief executive of DoubleLine Capital, said on Wednesday that the major declines in equity and credit markets could suggest that “margin calls are going on.”
