A look at bank scandals since the financial crisis
12/19/2012 5:01am
Swiss bank UBS AG agreed Wednesday to pay some $1.5 billion in fines to international regulators following a probe into the rigging of a key global interest rate.
German prosecutors charge ex-Porsche chiefs
12/19/2012 6:17am
German prosecutors have charged two former Porsche executives with market manipulation in connection with the sports car company's failed takeover of Volkswagen AG, officials said Wednesday.
Fitch says 'fiscal cliff' may cost US 'AAA' rating
12/19/2012 6:34am
Fitch warned that the U.S. is more likely to lose its top-notch "AAA" rating if lawmakers cannot agree on how to cut the deficit and avoid the broad government spending cuts and tax increases that go into effect next year if no deal is reached.
ECB restores use of Greek bonds as collateral
12/19/2012 6:35am
The European Central Bank says it will once again accept Greek government bonds as collateral for loans to banks.
France wants to split banks' trading, lending ops
12/19/2012 7:48am
France's government proposed a bill Wednesday that would split banks' risky trading activities from their more traditional lending operations as part of a Europe-wide effort to shore up a fragile industry that contributed to the continent's financial crisis.
By their chat, UBS employees exposed their scam
12/19/2012 8:26am
"Just be careful Dude," a manager at Swiss bank UBS cautioned a trader.
Italian judge convicts 4 foreign banks of fraud
12/19/2012 8:38am
An Italian judge has found four international banks guilty of fraud in a case involving the sale of derivatives to the city of Milan and ordered the confiscation of (EURO)88 million ($117 million).
EU seeks move toward tougher smoking laws
12/19/2012 9:15am
The European Union's health chief on Wednesday called for bigger warnings on cigarette packs and bans on certain flavorings like menthol, strawberry and vanilla, which can draw youngsters to smoking.
Czech parliament approves austerity measures
12/19/2012 9:21am
The Czech Republic's lower house of parliament has approved unpopular austerity measures that had threatened to cause the downfall of the center-right coalition government.
News Summary: Dr Pepper expands 10-calorie lineup
12/19/2012 9:23am
TEN IS THE NEW ZERO: Dr Pepper Snapple Group Inc. is rolling out 10-calorie versions of Sunkist, 7-Up, Canada Dry, RC Cola and A&W Root Beer. The drinks build on last year's launch of Dr Pepper Ten, which was marketed as a better-tasting diet alternative for men.
News Summary: Artisans thrive again in Haiti
12/19/2012 10:10am
MAKING IT IN HAITI: Three years after a devastating earthquake, there's still not much economic traction in this impoverished Caribbean country, but arts and crafts have taken off.
No more Government Motors: US selling GM shares
12/19/2012 10:42am
The U.S. government's foray into the car business is slowly coming to an end.
UBS to pay $1.5 billion over rate-rigging scandal
12/19/2012 10:55am
Swiss bank UBS agreed Wednesday to pay $1.5 billion in fines for trying to manipulate a key interest rate that affects borrowers around the world.
Ally Financial repays $4.5B of debt owed to gov't
12/19/2012 10:57am
Ally Financial has repaid $4.5 billion of debt owed to the government after it helped bail the company out during the 2008 banking industry meltdown.
GM shifts some auto production to US from Canada
12/19/2012 11:12am
General Motors is moving production of the next version of its Camaro sports car from its Canadian operation in Oshawa, Ontario to a plant in Michigan.
News Summary: Markel buying Alterra in $3B deal
12/19/2012 11:12am
THE TRANSACTION: Insurer Markel Corp. is purchasing Alterra Capital Holdings Ltd. for nearly $3 billion in cash and stock in order to diversify its business.
ShopperTrak cuts holiday forecast
12/19/2012 11:17am
ShopperTrak, which analyzes customer traffic at U.S. stores, is cutting its holiday sales forecast as shopping has limped along since the Thanksgiving weekend buying frenzy.
News Summary: UBS to pay $1.5B over LIBOR probe
12/19/2012 11:18am
THE PUNISHMENT: Swiss bank UBS will pay $1.5 billion in a settlement with U.S., British and Swiss regulators for trying to rig a key interest rate. Two traders have also been charged with conspiracy, and the bank's Japan unit will plead guilty to felony wire fraud in the U.S.
News Summary: Sirius XM names Meyer interim CEO
12/19/2012 11:39am
RADIO HEAD: Satellite radio company Sirius XM Radio Inc. has promoted James Meyer to interim CEO as it looks for a replacement for Mel Karmazin. Meyer, president of sales and operations, is also joining the board.
Dr Pepper maker fills out 10-calorie lineup
12/19/2012 11:58am
When it comes to the calories in diet soda, Dr Pepper thinks 10 is the new zero.
As a community and a nation, time to engage
12/19/2012 12:16pm
Businesses and citizens alike are discouraged, because of the dysfunction in Washington. Policymakers have faced challenges before and the process isn't always smooth, but the impact of inaction or improper action seems to be greater as of late.
Vertex drug label to warn on possible fatal rash
12/19/2012 12:17pm
The Food and Drug Administration is attaching a black box warning to the Vertex Pharmaceuticals hepatitis C treatment Incivek over a potentially fatal rash.
Ghana releases Argentine ship held since October
12/19/2012 12:31pm
A port official in Ghana says an Argentine naval ship held since October because of a financial dispute is now setting sail.
Sector Snap: homebuilders mixed
12/19/2012 1:03pm
Shares of homebuilders were mixed on Wednesday, which an analyst said could be related to a bit of profit-taking by investors following continued signs of improvement in the sector.
At a glance: Gasoline drops to $3.23 a gallon
12/19/2012 1:06pm
The national average for a gallon of regular gasoline fell 1 cent overnight to $3.23, a low for the year. The price is less than a penny more than at this time last year.
French president wants new era with Algeria
12/19/2012 1:49pm
French President Francois Hollande announced a new era with Algeria on Wednesday _ a strategic partnership among equals _ during a state visit to this North African nation that was once a prized colony in the French empire.
Sanofi-Aventis to pay $109M kickbacks settlement
12/19/2012 3:08pm
The U.S. subsidiaries of French pharmaceutical giant Sanofi will pay $109 million to settle allegations they gave kickbacks to induce doctors to buy and prescribe Hyalgan, a knee injection.
SandRidge Energy to sell some Permian Basin sites
12/19/2012 3:12pm
SandRidge Energy Inc. is selling its Permian Basin properties in Texas to privately held Houston oil and gas company Sheridan Production Partners for $2.6 billion in cash.
Getco buying Knight Capital in $1.4B deal
12/19/2012 3:39pm
Nearly five months after a major software malfunction at Knight Capital roiled financial markets, the trading firm has agreed to sell itself to a competitor, Getco, in a cash-and-stock deal that the companies value at $1.4 billion.
FDA chief renews push for specialty pharmacy rules
12/19/2012 3:53pm
The head of the Food and Drug Administration renewed her push Wednesday for new laws to help police pharmacies like the one that triggered a deadly meningitis outbreak, even as members of Congress expressed little interest in cooperating with the agency.
Union: American, US Airways execs meet with pilots
12/19/2012 5:12pm
Top leaders at American Airlines, US Airways, and their pilot unions are meeting to discuss a merger, one of the unions said Wednesday.
Watchdog: Fannie, Freddie may have lost over $3B
12/19/2012 5:17pm
A federal watchdog has found that government-controlled Fannie Mae and Freddie Mac may have lost more than $3 billion from big banks' alleged rigging of a key interest rate.
News Summary: Kodak sells patents for $525 million
12/19/2012 5:27pm
STEPPING STONE: Eastman Kodak is selling its digital imaging patents for about $525 million, money the struggling photo pioneer says will help it emerge from bankruptcy protection in the first half of 2013.
Chinese ad firm to leave US stock market in buyout
12/19/2012 8:46pm
A Chinese advertising company says it has agreed to be taken private and removed from U.S. stock markets in the biggest transaction of its kind for China.
UBS faces Hong Kong interest rate probe
12/19/2012 9:24pm
Hong Kong financial authorities said Thursday that they are investigating Swiss bank UBS over possible misconduct related to the Asian financial center's benchmark interest rate.
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