WASHINGTON - U.S. Justice Department investigators have identified criminal wrongdoing in General Motors Co's failure to disclose a defective ignition switch, and they are negotiating what is expected to be a record penalty, the New York Times reported on Friday.
- A proposed $19 million settlement between MasterCard Inc and Target Corp over the retailer's 2013 data breach fell through after not enough banks accepted the deal, the credit card company said on Thursday.
WASHINGTON - The U.S. Senate on Friday rejected a push to beef up rules against currency manipulation in a key trade bill, avoiding a clash with the Obama administration and U.S. trade partners.
LONDON - U.S. bank Citigroup Inc failed on Friday in a bid to win an order from a London court that would force trade house Mercuria to pay about $270 million in potential losses for metals financing deals in China hit by suspected fraud.
- A federal appeals court on Friday made it easier for consumers to challenge interest rates in debt collection cases, as it revived a lawsuit in New York against units of Encore Capital Group Inc, one of the largest U.S. debt collectors.
LONDON - Global regulators meet in London next month to try to tighten their grip on markets after banks were fined billions of dollars for manipulating interest rates and currencies, Britain's top financial supervisor said.
LONDON - Britain's financial markets watchdog will for the first time investigate whether banks are offering firms a fair and transparent service for the billions they earn in fees for arranging mergers and bond and share sales.
BRUSSELS - The European Commission rejected a request by Italy to authorize a value-added tax (VAT) measure for large retailers that was expected to have raised 700 million euros ($800 million) and reduced tax evasion.
LONDON - The European Union's financial services chief said on Friday he has asked the bloc's insurance watchdog to look at ways to change EU insurance rules to help encourage investment.
HONG KONG - Hong Kong's Securities regulator warned investors on Friday against trading stocks whose valuations bear little resemblance to their underlying business, in a week in which the financial hub has seen three spectacular stock meltdowns of companies fitting that pattern.
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- Healthcare: CORRECTED-UPDATE 1-U.S. bird flu causes egg shortage, emergency measures
- Consumer: Sea lion rescued from Santa Barbara oil spill dies at SeaWorld
- Energy: UPDATE 2-Safety measures ordered for failed oil pipeline in California
- Industrials: U.S. Senate passes two-month transportation spending patch
- M&A: Fiat Chrysler CEO approached GM about a merger, was rebuffed -NYT
- Bankruptcy: BRIEF-Creditors accept insolvency settlement proposal of Pescanova 10 units
- IPOs: New Issue- CPUK Finance prices a dual tranche deal
- Private Capital: Arch Coal in talks with restructuring advisers to cut debt -WSJ
- Hedge Funds: Star hedge fund trader Rokos hires Vladimirov from Graticule - source