A congressional committee has announced reviving testing of Apple and FBI on Tuesday. Apple’s general counsel and an FBI official will testify on behalf of respective sides. Lawmakers consider the debate centering public interest as important and summoned the disagreed parties to testify before the lawmakers.
A regulatory filing by Yahoo Inc. on Thursday suggests that the tech giant has changed its employee severance plan. The new plan confirms severance payments even after acquisition of the tech giant. Analysts consider the filing as its preparation for selling entire or at least part of its core business.
Microsoft has sued the US Department of Justice on Thursday for alleged secret intervention of the government agencies to individual’s information. Through searching secretly, the US government is violating the Fourth as well as First Amendment, alleges the lawsuit. Microsoft believes, this practice has gone too far and hence seeks court intervention to address the situation.
A US appeal court has verdict on Wednesday upholding previous ruling by the District Judge regarding lifting injunction for Argentina in entering global capital market. The ruling allows the South American nation to enter the capital market just after 15 years. It appears as a great success for the incumbent Argentine President who has come to power with promise to settle the default debt status.
Wall Streel indexes continued to stay in positive territory as financial sector was catching up. Global stock market responded and climbing to the highest level in 2016.
Department of Justice filed lawsuit against ValueAct Capital last week, related to Halliburton and Baker Hughes merger. Meanwhile, ValueAct on Monday claimed no wrongdoing and will defend its position.
Medical marijuana will be legalized after Gov. Wolf signs the bill on Sunday after the 149-46 vote in favor of marijuana legalization. However, it will take about two years before sufferers of acute ailment can get advantage of the benefits because of the several processes including regulatory and growing process.
Deutsche Bank has primarily agreed settling lawsuit centering ‘Silver Fix’ scam on Wednesday. Under the agreement, the German bank will have to count monetary penalty while helping the plaintiff investors in suits with other banks. Both the agreed parties have declined to elaborate terms and conditions for this accord.
WP29 on Wednesday was calling for changes in the commercial data transfer agreement between US and EU. The agency said it does not provide enough protection for privacy for European users.
US safety regulator announced Wednesday that Takata still need to recall its defective airbags. NHTSA said unless Takata proved them to be safe, all remaining airbags in US vehicles must be recalled eventually.
SEC has filed a lawsuit against former ConvergEx exec Basilly on Tuesday on the allegation of defrauding traders. Prior to that, ConvergEx has admitted wrongdoing through its several units and counted penalty of $150 million to the regulators. However, his lawyer claims innocence rejecting all allegations and cites that Bassily has acted as per ConvergEx approved business model.
The largest coal miner in the US has sought protection under bankruptcy law on Wednesday ending speculations over its future. The filing has been acknowledged as the largest bankruptcy case by liabilities during this year. With this filing, a century old publicly traded company is going to shutting down its operations in the US.
GAO suggested financial regulators to disclose more information on their crisis policy framework. While five large banks do not have enough plan to manage operation during crisis.
McCormick will no longer acquire Premier Foods as it cannot provide the offer acceptable to the latter. Due to failure of the said talks, Premier was left to "fend for itself" for the company's success while seeking alliance with Japan's Nissin Food Corporation.
Two other Fed presidents suggested the US central bank to raise interest rate. San Fransisco's John Williams said two or three rate hike in 2016 is reasonable. While Dallas' Rob Kaplan reminded to be patient.