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Archive: News / Biz / Business & Finance (36 Stories)

HSBC settles US money laundering case for $1.9B

12/11/2012 12:02am
HSBC says it's paying $1.9 billion in penalties to settle a U.S. money laundering probe.

A look at bank scandals since the financial crisis

12/11/2012 1:49am
HSBC's record $1.9 billion payment to settle a U.S. investigation into money laundering that involved Mexican drug cartels and nations such as Iran is a new setback for the reputation of banks after a series of headline-grabbing scandals.

Ahead of the Bell: US trade deficit

12/11/2012 5:54am
The U.S. trade deficit likely grew in October because a slowing global economy is cut demand for American-made goods.

Spectra to buy Canada-Illinois pipeline for $1.25B

12/11/2012 7:17am
Pipeline operator Spectra Energy Corp. said Tuesday that is buying the 1,700-mile Express-Platte pipeline system for $1.25 billion in cash to build its oil transportation network.

China overtakes US in number of patent filings

12/11/2012 7:24am
GENEVA _ The U.N. says the Chinese filed the most patent applications in the world last year, overtaking the U.S. for the first time.

Exxon: US energy revival has staying power

12/11/2012 7:27am
Exxon says the energy renaissance in the U.S. has staying power and predicts that North America will become a net exporter of oil and gas by the middle of the next decade.

UK authorities arrest 3 in LIBOR rate probe

12/11/2012 8:24am
British police arrested three people Tuesday as part of their investigation into the manipulation of a key benchmark interest rate _ the first British arrests in a scandal that's had global ramifications.

WebMD to eliminate 250 jobs in cost-cutting push

12/11/2012 8:25am
Health website operator WebMD Health Corp. plans to cut about 14 percent of its workforce as part of a push to reduce costs.

Summary Box: WebMD to cut 250 jobs

12/11/2012 8:34am
THE CUTS: Health website operator WebMD Health Corp. said Tuesday it plans to cut about 14 percent of its workforce as part of a push to reduce costs. The cuts amount to about 250 positions for the New York company, which expects to reduce annual operating expenses by about $45 million.

News summary: Small biz optimism dives in November

12/11/2012 8:52am
SAGGING SPIRITS: The National Federation of Independent Business, which lobbies on behalf of small businesses, says a survey of its members showed they grew more pessimistic in November after the election and Superstorm Sandy.

Analyst raises rating for Monster Beverage

12/11/2012 8:55am
Shares of Monster Beverage rose nearly 3 percent Tuesday after an analyst upgrading his rating, saying that regulatory concerns are overstated.

EU approves common patent rules

12/11/2012 9:17am
BRUSSELS (AP) _ The European Union approved a new common patent system on Tuesday designed to cut red tape and streamline patent procedures across much of Europe.

US trade deficit grows to $42.2 billion in October

12/11/2012 9:41am
The U.S. trade deficit increased in October because exports fell by a larger margin than imports, a sign that slower global growth could weigh on the U.S. economy.

US: Afghans resisting efforts to track cash exodus

12/11/2012 9:46am
A U.S. watchdog agency said Tuesday that Afghan officials were resisting U.S. efforts to help track billions of dollars being flown out of Kabul airport every year, some likely linked to crime and drugs.

News Summary: UK told to rethink surveillance plan

12/11/2012 10:25am
SUPER SNOOPERS: British lawmakers demanded the government water down plans to keep track of phone calls, email and Internet activity _ a bill critics dub a "snooper's charter."

News Summary: Strauss-Kahn, maid settle lawsuit

12/11/2012 10:36am
DUST SETTLING? A settlement has ended the last legal fallout from the sexual assault allegation that sank the political career of former International Monetary Fund leader Dominique Strauss-Kahn.

Exxon: US energy revival has staying power

12/11/2012 11:46am
Exxon says the energy renaissance in the U.S. will continue and predicts that North America will become a net exporter of oil and gas by the middle of the next decade.

UK regulator steps up compliance rules for HSBC

12/11/2012 11:54am
Britain's financial regulator says it is taking steps to force HSBC to improve its legal compliance after the bank agreed to pay $1.9 billon to settle a U.S. money laundering probe.

Diller steps aside at TripAdvisor; sells stake

12/11/2012 12:35pm
Barry Diller is stepping down as chairman of TripAdvisor and selling his stake in the travel-website owner to Liberty Interactive.

Exxon: US energy revival has staying power

12/11/2012 12:59pm
Exxon says the energy renaissance in the U.S. will continue and predicts that North America will become a net exporter of oil and natural gas by the middle of the next decade.

News Summary: Italian premier defends austerity

12/11/2012 1:39pm
NO MAGIC, MAN: Italian Premier Mario Monti defended his government's austerity measures as necessary to restore confidence in Italy's financial future, and warned voters to beware "magic solutions" from candidates in upcoming elections.

News Summary: Virgin Atlantic stake boosts Delta

12/11/2012 2:12pm
LIKE A VIRGIN: For $360 million, Delta Air Lines Inc. gets 49 percent of Virgin Atlantic.

Fidelity cutting fees at 8 index mutual funds

12/11/2012 2:30pm
Fidelity Investments is trimming fees at its largest index mutual funds and making some of its lowest-cost options accessible to a larger number of fund shareholders, including those with as little as $2,500 to invest.

Delta Air Lines-Virgin Atlantic deal at a glance

12/11/2012 2:41pm
Delta Air Lines is paying $360 million for a 49-percent stake in Virgin Atlantic, a move at making it more competitive in the lucrative New York-to-London. The airlines hope to sell seats on each other's flights and coordinate schedules on key routes. American Airlines has a similar deal with British Airways.

News Summary: Treasury sells its final AIG shares

12/11/2012 2:51pm
FINAL SHARES SOLD: The Treasury Department said Tuesday that it has sold all of its remaining shares of American International Group Inc. That wrapped up the government's biggest bailout of the 2008 financial crisis.

News Summary: Record number of reporters jailed

12/11/2012 2:56pm
RECORD: The U.S.-based Committee to Protect Journalists said 232 journalists are jailed around the world as of Dec. 1, a record number since the group began counting in 1990.

DuPont gives 2013 outlook, plans $1B stock buyback

12/11/2012 3:13pm
Chemicals giant DuPont Co. says it should reach the high end of its net income guidance in 2012 and its profit will grow in the low- to mid-single digits in 2013.

A look at Exxon's energy predictions through 2040

12/11/2012 3:24pm
ExxonMobil, the biggest investor-owned energy company in the world, released its annual outlook Tuesday in which it shared its outlook for energy supply and demand through 2040.

News Summary: US trade deficit widened in October

12/11/2012 3:41pm
DEFICIT HIGHER: The U.S. trade deficit grew 4.8 percent in October from September to $42.2 billion. The deficit increased because exports fell by a larger margin than imports.

LifeCare files for Ch. 11 bankruptcy protection

12/11/2012 3:44pm
Overwhelmed with $576 million in debt, hospital operator LifeCare has filed for Chapter 11 bankruptcy protection, and plans to sell itself.

News Summary: Storm drags down airlines' grades

12/11/2012 3:46pm
DELAYED: Only 80.2 percent of flights operated by U.S. airlines arrived on time during October, down from 85.5 percent in October 2011, according to the federal government.

Chesapeake sells midstream assets for $2.16B

12/11/2012 4:35pm
Chesapeake Energy Corp. will sell most of its remaining midstream assets for $2.16 billion as the company aims to strengthen its balance sheet and tighten its focus.

Delta grabs bigger share of key NY-London route

12/11/2012 4:53pm
Delta Air Lines is grabbing a bigger share of the world's most important travel route: New York to London.

US defends $1.9B deal with British banking giant

12/11/2012 5:28pm
American authorities on Tuesday cited "astonishing" dysfunction at the British bank HSBC and said that it had helped Mexican drug traffickers, Iran, Libya and others under U.S. suspicion or sanction to move money around the world.

Duke Energy CEO apologizes to regulator over probe

12/11/2012 6:58pm
The head of Duke Energy said he regrets that officials with the nation's largest electric company went too far in their criticism of North Carolina regulators responsible for setting rates in its top power market, according to a letter released Tuesday.

BHP sells Australia gas stake to PetroChina

12/11/2012 7:34pm
BHP Billiton Ltd. said Wednesday it has agreed to sell its stake in a proposed Australian gas project to Chinese state-owned energy producer PetroChina for $1.6 billion.
 
   
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