U.S. authorities extend deadline for Swiss banks in tax case
ZURICH (Reuters) – The U.S. Department of Justice on Thursday extended for one month the deadline for so-called category two Swiss banks suspected of helping wealthy Americans evade taxes to turn over information by one month.
Bank of America could pay at least $12 billion to settle probes: report
(Reuters) – Bank of America Corp could pay more than $12 billion to settle probes by the Justice Department and a number of states into the bank’s alleged handling of shoddy mortgages, the Wall Street Journal said on Thursday, citing people familiar wi…
GM top executives spared in internal report on safety failure
WARREN Mich. (Reuters) – General Motors Co on Thursday issued a report detailing how for 11 years it turned a blind eye to an ignition-switch problem linked to at least 13 deaths but largely pinned the blame on what the report described as incompetent …
Dow, S&P close at new records; payrolls in focus
NEW YORK (Reuters) – The Dow and the S&P 500 ended at a new record on Thursday after the European Central Bank cut rates to record lows and pledged to do more if needed to fight off the risk of deflation.
ECB hurls cash at sluggish euro zone economy, says not done yet
FRANKFURT (Reuters) – The European Central Bank cut interest rates to record lows on Thursday, launched a series of measures to pump money into the sluggish euro zone economy, and pledged to do more if needed to fight off the risk of Japan-like deflati…
Obama deflects French pressure to intervene in BNP dispute
PARIS/BRUSSELS (Reuters) – President Barack Obama dismissed on Thursday any prospect that he might intervene to help BNP Paribas bank , which risks losing one of its most senior executives over U.S. allegations of sanctions busting.
SEC chair plots major rules for high-speed traders, dark pools
(Reuters) – The top U.S. securities regulator said on Thursday her agency is developing rules that target high-speed traders, less transparent trading venues and order-routing practices, to make equity markets more stable and fair for all investors.
For Samsung heirs, little choice but to grin and bear likely $6 billion tax bill
SEOUL (Reuters) – The heirs of ailing Samsung Group patriarch Lee Kun-hee face one of the biggest inheritance tax bills ever, and appear to have little option but to pay up.
Michigan AG charges Chesapeake with racketeering and fraud
ATLANTA (Reuters) – The state of Michigan filed felony racketeering and fraud claims against Chesapeake Energy Corp on Thursday, in the latest legal fallout from Chesapeake’s ambitious attempt to acquire drilling rights amid the U.S. fracking boom.
UAW’s Williams to U.S. automakers: ‘no more concessions’
DETROIT (Reuters) – Newly elected United Auto Workers President Dennis Williams on Thursday warned major U.S. automakers who negotiate with the union next year that he supports the financial health of the companies, but that “enough is enough” when it …
