Blackstone settles Extended Stay lawsuit for $10 million
(Reuters) – Blackstone Group LP agreed to pay $10 million to settle a lawsuit that had sought $8.4 billion for its role in the sale and subsequent bankruptcy of hotel chain Extended Stay Inc.
Testing shows big improvement in Lockheed unmanned minehunter
(Reuters) – An unmanned minehunting vehicle developed by Lockheed Martin Corp has shown improved reliability in new tests, moving it a step closer to use on U.S. warships, Navy officials said on Thursday.
Madoff trustee cannot sue big banks, U.S. court rules
NEW YORK (Reuters) – The trustee seeking money for Bernard Madoff’s victims suffered a big defeat as a federal appeals court rejected his bid to recover nearly $30 billion from JPMorgan Chase & Co. and other banks he accused of aiding in the swindler’s fraud.
Facebook rolls out video for Instagram
(Reuters) – Facebook Inc introduced video for its popular photo sharing application Instagram in an attempt to go to head-to-head with rival Twitter.
Perelman company reaches another settlement with government
(Reuters) – A company owned by Ronald Perelman has agreed to pay $720,000 to settle Department of Justice charges over a stock purchase, the second time this month that the billionaire financier agreed to penalties to resolve civil charges by the feder…
VW’s Audi swaps R&D chiefs as criticism grows: source
BERLIN (Reuters) – Volkswagen’s Audi unit will swap development chiefs for a second time in less than a year, causing a stir at the luxury carmaker as it fights to close the gap with rival BMW.
SEC charges China MediaExpress, CEO with fraud
WASHINGTON (Reuters) – The Securities and Exchange Commission charged defunct company China MediaExpress and its chief executive officer on Thursday with misleading investors, the agency’s latest case alleging fraud at a U.S.-listed China-based company…
Health insurers to pay $500 million in rebates this summer
(Reuters) – Insurers will pay $500 million in rebates to employers and individuals this summer because of President Barack Obama’s healthcare law, about half the amount they paid last year.
New Heinz owners shake up management after takeover
(Reuters) – H.J. Heinz Co announced the departure of 11 executives on Thursday in a management shakeup less than two weeks after its new owners, 3G Capital and Berkshire Hathaway Inc , closed their $28 billion acquisition.
Plane makers squeeze suppliers as sales soar
PARIS (Reuters) – It should be a bonanza for suppliers: $135 billion in new orders booked by Boeing and Airbus at the Paris Airshow this week.
