Judge dismisses suit claiming JPMorgan knew of Madoff fraud
NEW YORK (Reuters) – A U.S. federal judge on Wednesday dismissed a shareholders’ lawsuit claiming JPMorgan Chase & Co board members knew about Bernard Madoff’s Ponzi scheme and ignored red flags signaling his massive fraud.
Standard Chartered dismisses media rumors on succession plans
(Reuters) – Standard Chartered Plc dismissed media rumors that its chairman was working on a succession plan amid shareholder pressure.
American Apparel appoints RadioShack CEO to board
(Reuters) – American Apparel Inc , a U.S. retailer dealing with high debt and management upheaval, said on Wednesday that the chief executive of another money-losing retailer would join its reshuffled board.
Judge dismisses suit claiming JPMorgan knew of Madoff fraud
NEW YORK (Reuters) – A U.S. federal judge on Wednesday dismissed a shareholders’ lawsuit claiming JPMorgan Chase & Co board members knew about Bernard Madoff’s Ponzi scheme and ignored red flags signaling his massive fraud.
Seven arrests made in $1.6 million StubHub cyberfraud case
NEW YORK (Reuters) – Police have arrested seven people on charges they were tied to an international ring that defrauded eBay Inc’s StubHub online ticketing service of some $1.6 million, the latest in a string of high-profile cybercrime busts in recent…
Facebook beats Wall Street targets, stock hits record high
SAN FRANCISCO (Reuters) – Facebook Inc’s fast-growing mobile advertising business helped drive a 61 percent increase in revenue during the second quarter, beating Wall Street’s financial targets and sending shares to a record-high in after-hours tradin…
Yum cuts ties to owner of China meat plant after scandal
SHANGHAI/LANGFANG China (Reuters) – Yum Brands Inc severed ties with OSI Group after Shanghai police detained five people from the supplier’s China meat-processing factory at the center of a food-safety scare that has ensnared several major Western bra…
Apple pushes S&P 500 to record close; Boeing hits Dow
NEW YORK (Reuters) – Stocks ended mostly higher on Wednesday, with the S&P 500 closing at a record on Apple’s bullish results, though Boeing weighed on the Dow and conflicts in Ukraine and the Gaza Strip kept the broader market’s gains in check.
Wal-Mart loses bid to keep documents on bribery probe from shareholder
(Reuters) – The Delaware Supreme Court affirmed on Wednesday a lower court ruling that ordered Wal-Mart Stores Inc to provide a shareholder with documents related to the company’s internal probe of allegations the retailer had paid bribes in Mexico.
AT&T’s new device financing plan weighs on revenue
WASHINGTON (Reuters) – AT&T Inc’s quarterly revenue rose a weaker than expected 1.6 percent as cheaper service plans offered to customers who forgo subsidized cellular phones cut into margins.
