Business News

  • After an assault trial, alleged victim faces her own lawsuit

    SACRAMENTO, Calif. (AP) — As Yee Xiong prepared to leave the sentencing hearing for a man she said sexually assaulted her at an off-campus apartment when they were students, she felt ready to finally put the case behind her after four years. Then, she was handed a $4 million defamation lawsuit.

    Associated Press
  • AT&T agrees to pay $450,000 to settle U.S. probe

    The U.S. Federal Communications Commission said on Friday that AT&T Inc has agreed to pay a $450,000 fine for unauthorized operations of fixed wireless stations and will not engage in repeat behavior, resolving a lengthy government investigation. Over a four-year-period, AT&T operated many…

    Reuters
  • Wells Fargo scandal shows the next bank crisis is coming

    There’s never just one cockroach. If you see one in the open, you know many more are still hiding. Call the exterminator.

    Yahoo Finance
  • Apptio CEO: Now the right time for IPO

    It’s been a slow year for initial public offerings. Among the new issues investors seemed eager to snap up in the last few days: Apptio. The tech company, which makes cloud software to help manage IT, surged more than 40% on its first day of trading.

    Jen Rogers
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    Preparing for President Trump

    William Lee, Citigroup, head of North American Economics, discusses what a Donald Trump presidency would look like and if investors are prepared.

    CNBC Videos
  • Takata failed to report 2003 air bag rupture to U.S. road authority

    WASHINGTON/TOKYO (Reuters) - Japanese air bag supplier Takata Corp (7312.T) said it failed to inform the U.S. auto safety agency of a 2003 rupture of one of its air bag inflators in Switzerland, according to an internal Takata report released by U.S. regulators on Friday. Takata also said in the…

    Reuters
  • China's Huawei to start India smartphone production in Oct

    MUMBAI/BEJING (Reuters) - Chinese telecoms giant Huawei Technologies Co Ltd [HWT.UL] will start making smartphones in India next month, the company said on Friday, joining a wave of compatriots setting up plants in the world's third-biggest mobile market. The plant will be operated with the Indian…

    Reuters
  • Brazil pharmacy Raia Drogasil focused on new stores not M&A: CEO

    Raia Drogasil SA, Brazil's biggest drugstore chain, will sit out expected consolidation of the national market, the company's chief executive said in an interview, because its own rapidly expanding network is proving increasingly efficient. CVS Health Corp entered Brazil with an acquisition in 2013…

    Reuters
  • Twitter initiates talks with tech companies over sale - source

    Twitter Inc has initiated talks with several technology companies to explore selling itself, a person familiar with the matter said on Friday, signalling the start of what is likely to be a slow-rolling auction of the high-profile but money-losing social media company. A sale of Twitter has been…

    Reuters
  • Federal Reserve proposes new limits on Wall Street energy bets

    WASHINGTON/NEW YORK (Reuters) - The Federal Reserve on Friday outlined a plan to limit Wall Street bets on the energy sector by forcing companies like Goldman Sachs and Morgan Stanley to hold more capital against such investments. Under current law, Goldman Sachs Group Inc and Morgan Stanley may…

    Reuters
  • Wall Street falls as energy lags; shares post gains on week

    Energy was the worst-performing major S&P sector, dropping 1.3 percent. Oil prices tumbled 4 percent on signs Saudi Arabia and Iran were making little progress on a bilateral agreement ahead of talks by crude exporters aimed at freezing production. Facebook shares fell 1.6 percent and were one of…

    Reuters
  • Rave Restaurant Group reports 4Q loss

    The The Colony, Texas-based company said it had a loss of 21 cents per share. Losses, adjusted for asset impairment costs and to account for discontinued operations, came to 13 cents per share. The pizza ...

    Associated Press
  • With U.S. drone rules set, firms race for flight data

    UPS's test flight was handled by drone maker CyPhy Works, in which it owns a stake. "The technology for drones is there and it's moving extremely fast," said CyPhy founder Helen Greiner. The UPS-CyPhy test comes amid a burst of U.S. drone activity, including companies focusing on package delivery.

    Reuters
  • U.S. judge tells CFTC he won't 'rubber stamp' Deutsche Bank deal

    A federal judge has ordered the U.S. Commodity Futures Trading Commission to justify why a settlement with Deutsche Bank AG in a case over the bank's handling of swap reporting is fair and in the public interest. U.S. District Judge William Pauley in Manhattan said in an order on Thursday that…

    Reuters
  • Former employees file class action against Wells Fargo

    The lawsuit on behalf of people who worked for Wells Fargo in California over the past 10 years, including current employees, focuses on those who followed the rules and were penalized for not meeting sales quotas. "Wells Fargo fired or demoted employees who failed to meet unrealistic quotas while…

    Reuters
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    Cramer's game plan: October could be big for internationa...

    Jim Cramer prepares investors for the events and stocks he will be watching next week, including China PMI numbers.

    CNBC Videos
  • SpaceX blast investigation suggests breach in oxygen tank's helium system

    By Irene Klotz DALLAS (Reuters) - A SpaceX rocket that burst into flames on its launch pad at the beginning of this month likely suffered a large breach in its upper-stage helium system, the company said on Friday. SpaceX, owned and operated by technology entrepreneur Elon Musk, was fueling a…

    Reuters
  • Yahoo faces growing scrutiny over when it learned of data breach

    By Dustin Volz WASHINGTON (Reuters) - Yahoo on Friday faced pointed questions about exactly when it knew about a cyber attack that exposed the email credentials of 500 million users, a critical issue for the company as it seeks to prevent the breach from affecting a pending takeover by Verizon Inc.…

    Reuters
  • Ex-N.Y. Governor Paterson, executive fined by U.S. securities regulators

    Former New York Governor David Paterson and entertainment industry executive Charles Koppelman were charged by U.S. regulators on Friday for failing to report in a timely manner their stock trades in a startup film company that is now at the heart of an alleged fraud scheme. The U.S. Securities and…

    Reuters