Hired-gun hacking played key role in JPMorgan, Fidelity breaches
NEW YORK/SAN FRANCISCO (Reuters) – When U.S. prosecutors this week charged two Israelis and an American fugitive with raking in hundreds of millions of dollars in one of the largest and most complex cases of cyber fraud ever exposed, they also provided…
GE options volume surges on Synchrony swap
NEW YORK (Reuters) – General Electric options have dominated the market this week, as traders have been using a complex trading strategy to take advantage of the conglomerate’s tender offer for Synchrony Financial shares to make a small profit.
Higher spend on essentials, online bargains hit U.S. dept stores
(Reuters) – Slumping same-store sales at upscale U.S. department store operator Nordstrom Inc could point to more than a glut in retailers’ inventories, not just a longer-than-usual spell of warm weather and fewer spendthrift tourists.
Oil dives 3 percent, heads for biggest weekly drop in eight months
NEW YORK (Reuters) – Oil fell as much as 3 percent on Friday, extending the week’s loss to the largest in eight months, with prices pressured by swelling storage of crude on land and sea.
VW brand chief says no evidence of more cheating
BERLIN (Reuters) – Volkswagen’s top brand executive said he saw no evidence of further misconduct at the carmaker beyond diesel-emission and carbon-dioxide manipulations, as it reported a drop in sales for the first full month since the scandal broke.
J.C. Penney a case of ‘good results, bad timing’ as shares plunge
(Reuters) – J.C. Penney Co Inc reported better-than-expected quarterly net sales and a smaller-than-expected loss, helped by demand for home products and footwear and a strong performance by the growing number of Sephora beauty shops in its stores.
AstraZeneca’s potential $3 billion cancer pill wins early approval
LONDON (Reuters) – A new lung cancer pill from AstraZeneca , designed for patients whose disease has worsened after treatment with other therapies, won early U.S. approval on Friday, in a boost for the British drugmaker.
Standard Chartered to pay $6.3 million in Swiss program deal
(Reuters) – Standard Chartered Bank’s Swiss unit [STANB.UL] will pay a $6.3 million penalty as part of a deal it reached with the U.S. Justice Department to avoid possible prosecution for helping Americans evade taxes, the department said on Friday.
VW labor boss says emissions scandal could involve 100 people
BERLIN (Reuters) – Volkswagen works council chief Bernd Osterloh does not know whether diesel emission manipulations committed by the company involved 10, 50 or even 100 people, he told German news agency DPA in an interview published on Friday.
Ford Detroit workers back pact with new product pledge: UAW official
DETROIT (Reuters) – United Auto Workers members at a Detroit-area Ford Motor Co plant to be kept open thanks to a new product promised in a proposed labor contract overwhelmingly approved the pact, a UAW official said on Friday.
