Exclusive: Prosecutors' case against GM focuses on misleading statements

NEW YORK - Federal prosecutors are developing a criminal fraud case hinged on whether General Motors made misleading statements about a deadly ignition switch flaw, and are examining activity dating back a decade, before GM's 2009 bankruptcy, according to multiple sources familiar with the investigation.

Recent Business News

Airbus confirms launch of A330neo aircraft

PARIS - European planemaker Airbus confirmed on Monday that it would sell revamped versions of its A330 wide-body jet powered by Rolls-Royce Trent 7000 engines and offering 14 percent fuel savings.

2:19am EDT

Swiss chocolate maker Lindt agrees to buy Russell Stover

ZURICH - Swiss chocolate maker Chocoladefabriken Lindt & Spruengli said it had agreed to acquire family-owned U.S. candy business Russell Stover, making it the no.3 chocolate manufacturer in North America.

2:22am EDT

Insurers struggle to get grip on burgeoning cyber risk market

PARIS/BOSTON - Insurers are eagerly eyeing exponential growth in the tiny cyber coverage market but their lack of experience and skills handling hackers and data breaches may keep their ambitions in check.

Tech, Cyber Crime, Media 1:10am EDT

Top Alibaba executives, investors may expand board after IPO: filing

SAN FRANCISCO - A group of 27 top executives and investors in Alibaba Group Holding Ltd, including co-founder Jack Ma, can appoint another two directors to the company's board once it goes public, according to a U.S. regulatory filing on Friday.

Tech, Media 12:11am EDT

Australia's David Jones shareholders back Woolworths takeover

SYDNEY - Shareholders of iconic Australian retailer David Jones Ltd on Monday approved a $2 billion takeover from South Africa's Woolworths Holdings Ltd, voting overwhelmingly to create a southern hemisphere department-store giant.

Deals, Africa 2:16am EDT


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Sector Summary

A Cynking ship

The weird movements in Cynk’s stock was first flagged by the finance blog Zero Hedge on Monday, and throughout the week went from a joke about the heights of the tech bubble in certain corners of the finance internet to a legitimate news story.

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