Ellison gives up $500 million potential payout to settle Pillar suit
SAN FRANCISCO (Reuters) – Oracle Corp Chief Executive Larry Ellison has agreed to give up a potential payout of around $500 million to settle accusations of a conflict of interest in the 2011 acquisition by Oracle of a company he controlled, according …
Loose monetary policy needed to counter Washington gridlock: Fed officials
SAN DIEGO/ATLANTA (Reuters) – U.S. monetary policy is being kept easier to help offset the harm caused by political fighting in Washington, according to two senior Federal Reserve officials who warned on Thursday of damaging consequences if the nation …
Cohen’s SAC in talks to sell reinsurance business: sources
NEW YORK (Reuters) – Steve A. Cohen’s SAC Capital Advisors is in discussions to sell its reinsurance business as the $14 billion hedge fund deals with the fallout of a long-running insider trading probe, four people familiar with the discussions said o…
Exclusive: Security firm says iPhone bug can thwart device wiper
BOSTON (Reuters) – A German security company has uncovered a bug in the new iPhone’s software that it said enables hackers to overcome a safeguard allowing users to remotely wipe stolen or lost phones.
Tesla grapples with impact of battery fire in U.S.
DETROIT (Reuters) – Two days after a video of a burning Tesla electric car went viral, the “green car” maker grappled with ways to contain the damage as investors shaved $2.4 billion off the company’s market value.
Wall Street ends lower as shutdown continues for third day
NEW YORK (Reuters) – U.S. stocks dropped on Thursday as investors worried that a budget stalemate in Congress would become entangled with much more critical legislation to raise the federal borrowing limit.
Britain’s fraud prosecutor sees no conflict in Autonomy probe
LONDON (Reuters) – Britain’s Serious Fraud Office (SFO) said on Thursday it had found no conflict of interest in its investigation into Autonomy, the British software company accused of accounting irregularities by its U.S. owners Hewlett-Packard.
Fed’s Lockhart says government shutdown to hurt fourth quarter U.S. growth
ATLANTA (Reuters) – The partial shutdown of the U.S. government after Congress failed to agree on a plan to fund operations will hurt growth in the last quarter of this year, a top Federal Reserve official said on Thursday.
Portugal EU/IMF creditors approve bailout review, goals unaltered
LISBON (Reuters) – Portugal’s international lenders approved the country’s performance under a bailout in their latest review on Thursday, but rejected government requests to ease fiscal goals.
MF Global trustee plans to return more customer funds
(Reuters) – The trustee liquidating the brokerage unit of MF Global Holdings Ltd has asked a federal bankruptcy judge for permission to return remaining funds to commodity trader customers affected by the firm’s 2011 collapse.
