Big banks accused of interest rate-swap fixing in class action suit

NEW YORK (IFR/Reuters) - A class action lawsuit, filed Wednesday, accuses 10 of Wall Street’s biggest banks and two trading platforms of conspiring to limit competition in the $320 trillion market for interest rate swaps.

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FanDuel, DraftKings fight threatened shutdown in New York

NEW YORK Daily fantasy sports companies DraftKings and FanDuel urged a New York judge on Wednesday to spare them from a potentially crippling shutdown in one of their top markets by ruling that their contests do not constitute illegal gambling. | Video

6:23pm EST

HP Inc plunges after printer business underwhelms

Shares of HP Inc, which houses former Hewlett-Packard Co's legacy hardware business, plunged 16.3 percent on Wednesday after the company's lackluster results fueled concerns about its ability to weather a slowdown in the printer and PC markets.

6:52pm EST

Fed gives largest U.S. banks extra year for debt rule calculation

NEW YORK The Federal Reserve said on Wednesday that bigger U.S. banks would have an extra year to calculate a capital requirement known as the supplementary leverage ratio for stress testing.

3:58pm EST

NXP wins U.S. antitrust approval to buy Freescale Semiconductor

WASHINGTON NXP Semiconductors N.V. has won U.S. antitrust approval to buy Freescale Semiconductor Ltd, a deal worth $11.8 billion, on condition that it sell its radio frequency power business, the Federal Trade Commission said on Wednesday.

VW maintains $7 billion of provisions despite simple emissions fix

WOLFSBURG, Germany Volkswagen will not lower planned provisions of 6.7 billion euros ($7.1 billion) for the costs of its diesel emissions scandal, though the technical fix for 8.5 million cars in Europe have turned out to be simpler than expected.


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