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
  • No Respite for Battered Saudi Stocks as IPO Pipeline Shrinks

    Add this to the reasons why 2016 isn’t the year for Saudi stocks: the IPO pipeline is drying up.

    Bloomberg
  • US guidelines on self-driving cars get good reception at G-7

    U.S. Transportation Secretary Anthony Foxx said Sunday that his counterparts in the Group of Seven nations welcomed U.S. guidelines on regulating self-driving cars and have agreed to work together on creating ...

    Associated Press
  • Yahoo hack is latest major cyber-attack

    The massive hacking attack on Yahoo revealed Thursday is one of biggest thefts of online users' personal information ever, affecting some 500 million accounts. For Tanguy de Coatpont, head of the French and North African divisions of Kaspersky Lab, a computer security company, it is "the biggest in…

    AFP
  • 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
  • Play

    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
  • 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
  • Former employees file class action against Wells Fargo

    Two former Wells Fargo & Co employees have filed a class action in California seeking $2.6 billion or more for workers who tried to meet aggressive sales quotas without engaging in fraud and were later demoted, forced to resign or fired. The lawsuit on behalf of people who worked for Wells Fargo in…

    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
  • 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
  • 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
  • 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
  • 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
  • Here's How to Find the Best Dividend Stocks -- The Motley Fool

    Picking the right income stocks isn't easy, but this simple checklist can stop you from buying the wrong ones.

    The Motley Fool
  • 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
  • Play

    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
  • 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
  • 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
  • Sahara chief Roy gets temporary relief from Indian court

    NEW DELHI (Reuters) - India's Supreme Court extended embattled Sahara conglomerate chief Subrata Roy's parole by a week on Friday, temporarily staying an order it had issued just hours before that he be taken back into custody. Roy was first arrested in March 2014 after Sahara, a household name in…

    Reuters