Madoff victims to recoup $1.42 billion in two payouts
NEW YORK (Reuters) – Victims of Bernard Madoff’s Ponzi scheme can expect to soon receive about $1.42 billion to help cover their losses, after two U.S. judges on Wednesday authorized the payouts.
Treasury Dept. to tighten corporate tax inversion rules
WASHINGTON (Reuters) – The U.S. Treasury Department will clamp down further this week on corporate income tax-avoiding “inversion” deals by U.S. companies with foreign rivals, according to a letter seen by Reuters on Wednesday.
Monsanto CEO: data science key part of long-term growth
ST. LOUIS (Reuters) – Monsanto Co’s long-term growth plans, which include new crop-boosting technologies and expansion into new markets, relies heavily on data science, the “glue that holds the pieces together,” Chief Executive Hugh Grant said on Wedne…
Volkswagen says 120,00 U.S. diesel owners will get gift cards, repairs
(Reuters) – Volkswagen of America said on Wednesday that 120,000 owners of diesel cars that have violated U.S. emission standards will receive $500 gift cards and $500 toward vehicle repairs.
Fed officials again flag December; see smooth rates liftoff
NEW YORK (Reuters) – Federal Reserve officials on Wednesday continued to flag December as a likely time for interest rates to rise after seven years near zero, with two expressing confidence they will be able to pull off a rate hike smoothly despite fe…
Wall St. rallies after Fed minutes solidify December rate hike bets
(Reuters) – U.S. stocks closed higher on Wednesday and investors appeared positively inclined toward higher rates after minutes from the Federal Reserve October meeting showed a solid core of officials rallied behind a possible December rate hike.
UAW says it has been approved for labor vote at Volkswagen in Tennessee
DETROIT (Reuters) – Volkswagen AG skilled trades workers at the company’s lone U.S. auto assembly plant will vote on Dec. 3 and Dec. 4 whether to be represented by the United Auto Workers, the union said on Wednesday. Volkswagen, which had earlier been…
U.S. housing starts hit seven-month low; setback seen as temporary
WASHINGTON (Reuters) – U.S. housing starts in October fell to a seven-month low, weighed down by a steep decline in the construction of multi-family homes, but a surge in building permits suggested the housing market remained on solid ground.
Ford-UAW contract passage in doubt as voting nears end
DETROIT (Reuters) – Leaders of the United Auto Workers union scrambled Wednesday to salvage a proposed labor agreement with Ford Motor Co , warning rank-and-file members that a rejection of the deal could jeopardize investments that would sustain U.S. …
Barclays to pay $150 million more to New York regulator in forex probe
(Reuters) – Barclays Plc will pay an additional $150 million to New York State’s financial regulator to resolve allegations that it rigged foreign exchange trading by putting the bank’s interests ahead of those of its clients, the regulator said on Wed…
