SAC's first public statement after pleading guilty was criticized for lack of contrition. SAC Capital Advisors was criticized for its lack of contrition after pleading guilty on four counts of securities fraud and one count of wire fraud.
North America
Bank of America and executive to pay damages for shoddy loans under the 'Hustle' program
The Hustle, as it was known, rewarded volume instead of quality for mortgages sold by Bank of America to Fannie Mae and Freddie Mac.
Samsung vs. Apple takes a new turn
A new issue had arisen between the epic patent infringement battle between Samsung and Apple. A judge has found that Samsung violated a court ordered agreement as to the secrecy of Apple documentation filed on the case.
After the recent shutdown costs, the bare numbers were reported by US government
The highest cost is the back pay for the furloughed employees according the US government data. Ironically, the sixteen day government shutdown and government service interruptions had actually helped the job situation in the United States, not hurt it as earlier expected.
Post shutdown, US businesses boost economy
Employment, salaries, automotive and other industries grow after the sixteen day US government furlough.
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Investors were positive that BlackBerry can make a comeback, but in the meantime stakeholders especially employees are taking the brunt of the crisis.
Lawyers for Major League Baseball and Alex Rodriguez argue as to jurisdiction of the case, if it were in federal court or state court.
The New York Department of Financial Services and the Manhattan District Attorney's Office are conducting inquiries and may subject both AIG and MetLife to fines.
Depending on their risk interpretation of the current debt situation of JCPenney under new CEO Mike Ullman.
Billionaire investor Wilbur Ross spent USD100 million to acquire vessels hauling dry commodity. Wilbur Ross, billionaire investor and owner of WL Ross &Co.
Intel Corporation acquired e-learning software company Kno. Intel Corporation recently acquired software company Kno. The latter began as a hardware company that later pivoted into producing eTextbooks and eBooks for college and K-12 students and publishers.
Data storage company Box, one of Silicon Valley's highly anticipated IPO candidates, has selected Morgan Stanley, Credit Suisse and JPMorgan Chase & Co to lead a proposed initial public offering, according to three people familiar with the matter.
BlackBerry rejected proposals to break-up and sell all or parts of the Canadian company. BlackBerry Ltd's board rejected proposals to break-up the Canadian smartphone company, saying that it is currently not in the best interest of all of its stakeholders.
The following bids, mergers, acquisitions and disposals were reported on Friday. The following bids, mergers, acquisitions and disposals were reported on Friday:- Healthcare conglomerate Danaher Corp has teamed up with Blackstone Group LP BX.
