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As oil plows through $45 a barrel, U.S. producers rush to lock in prices
The flurry of dealing kicked off when prices pierced $45 per barrel earlier in April. While it was not clear if oil prices will remain at current levels, it may also be a sign producers are preparing to add rigs and ramp up output. This More here: As oil plows through $45 a barrel, U.S. producers rush to lock in prices Read More →
United Airlines cuts COO Hart’s pay by $1 million over Port Authority probe
The 2015 annual incentive pay of Chief Operations Officer Greg Hart was reduced by $1 million in connection with a probe into the No.3 U.S. airline's relationship with the Port Authority of New York and New Jersey. The internal probe focused on whether United added flights to Columbia, South Carolina More here: United Airlines cuts COO Hart’s pay by $1 million over Port Authority probe Read More →
U.S., EU officials say they will not settle for limited trade deal
By David Lawder NEW YORK (Reuters) – U.S. and European Union trade officials said on Thursday they would not settle for a limited trans-Atlantic free trade deal that ignores deep divisions on agricultural products, services, public procurement and dispute resolution. In separate briefings during the latest negotiating round in New York, the U.S. and EU officials said they would … Read... [Read more]
Mitsubishi says U.S. mileage ratings for its cars are correct
(Reuters) – Mitsubishi Motors Corp, which has admitted manipulating fuel economy tests for mini-vehicles in Japan, on Wednesday said its vehicles for the model years 2013 to 2017 sold in the United States have correct mileage ratings. Mitsubishi said it has gone back and re-tested the models from those model years sold in the U.S. market. “Our findings confirm that fuel economy testing... [Read more]
Exclusive: SWIFT network says aware of multiple cyber fraud incidents
The disclosure came as law enforcement authorities in Bangladesh and elsewhere investigated the February cyber theft of $81 million from the Bangladesh central bank account at the New York Federal Reserve Bank. SWIFT has acknowledged that the scheme involved altering SWIFT software on Bangladesh Bank's computers to hide evidence of fraudulent transfers. Monday's statement… Originally... [Read more]
Panama raids Mossack Fonseca property, seizes shredded papers
Panamanian investigators on Friday raided a property used by Mossack Fonseca, the law firm at the center of a massive leak of offshore financial data, removing bags full of shredded documents as evidence, a local prosecutor said. “We have secured a large amount of evidence found in the location,” said organized crime investigator Javier Caraballo. In a statement, Mossack Fonseca said it... [Read more]
Solar developer SunEdison in bankruptcy as aggressive growth plan unravels
SunEdison Inc, once the fastest-growing U.S. renewable energy company, filed for Chapter 11 bankruptcy protection on Thursday after a short-lived but aggressive binge of debt-fueled acquisitions proved unsustainable. In its bankruptcy filing, the company said it had assets of $20.7 billion and liabilities of $16.1 billion Original post: Solar developer SunEdison in bankruptcy as aggressive growth... [Read more]
OPEC stands aloof of oil price regulation: Russian energy minister
MOSCOW (Reuters) – Decision-making within the OPEC has become more complicated and since 2008 the international oil cartel has taken no action to regulate the global oil market, Russian Energy Minister Alexander Novak said on Wednesday. Novak, in remarks at an energy forum, said he View post: OPEC stands aloof of oil price regulation: Russian energy minister Read More →
EU charges Google with abusing market dominance of Android
Google found itself under fire again on Wednesday from EU antitrust regulators who say it abused the dominant position of its Android mobile operating system, a move which could hit a key money-spinner for the company. Google is already facing EU charges of promoting its own shopping service in Internet searches at the expense of rival products, a case which has dragged on since… Go here to... [Read more]
Fed’s Kashkari favors higher capital requirements, smaller banks
“I agree that many current reform efforts are headed in the right direction, particularly those that make banks stronger with additional capital, deeper liquidity and stress testing,” Kashkari said. Kashkari, who during the financial crisis ran the government's $700 billion bank bailout program, has been campaigning for solutions to the nation's “too… Original post: Fed’s... [Read more]