Author Archives
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U.S. Federal Judge rules bitcoins are funds
The case relates to hacking attacks at dozens of companies including JPMorgan which resulted in exposing the personal information of more than 100 million people. In a ruling which recognises the legitimacy of bitcoins as money, a federal judge has… Read More ›
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Britain could lose financial might in Brexit’s wake
Passporting rights in the EU give Britain much of its financial clout. Brexit has now cast its long shadow over it. In a statement that could shed further light on the stakes of the on-going negotiations between London and EU,… Read More ›
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Hanjin Shipping likely to sell most of its ships – WSJ
Hopes of the company’s revival are dim. The Wall Street Journal has reported citing sources familiar with the matter at hand that Hanjin Shipping Co Ltd is considering a restructuring plan which is likely to see it sell more than… Read More ›
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Bild am Sonntag reports suspension of VW’s Audi R&D head
Heads are beginning to roll as VW negotiates its exit from the diesel emission scandal. German newspaper Bild am Sonntag has reported citing sources familiar with the matter at hand, Audi’s head of development will be suspended following the investigation… Read More ›
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Apple’s iTunes unit in Japan shells out $118 million in taxes
Tokyo’s Regional Taxation Bureau had detected that the company had underreported its income to the tune of $118 million and had ordered the company to pay its dues. Apple has responded to the order by promptly paying its dues. The… Read More ›
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DOJ demands $14 billion fine for settling Deutsche Bank’s mortgage-backed securities case
Even at $7 billion the settlement amount would be absurdly high. Incidentally Deutsche Bank has been one of the most successful European players on Wall Street. This success has however led to a slew of lawsuits being filed against it,… Read More ›
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GE wins $1.9 billion contract from U.K
GE’s contract relates to the country’s Hinkley Point nuclear power plant. In what is likely to be a fallout of Britain’s decision to leave the European Union, the country has now awarded General Electric Co a contract worth $1.9 billion… Read More ›
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VW is unlikely to sell any diesel vehicles in the U.S. anymore
Regardless of the outcome of its talks with the U.S. EPA, resumption of the sale of its diesel models in the U.S. is likely to be a non-starter. In the wake of VW’s diesel emission scandal, the embattled company has… Read More ›
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Federal Prosecutors to investigate Well Fargo’s sales practices
This new investigation by Federal prosecutors come in the wake Wells Fargo settling a probe with $190 million wherein it has neither acknowledged nor denied any act of wrong doing. As per a source who is familiar with the matter… Read More ›
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Apple reports that the iPhone 7 Plus has been sold out
Consumers who are set to crowd Apple’s brick-and-mortar store should note that they can continue to place orders for iPhones online rather than throng the stores who will not have the phones for sale since they have been sold out…. Read More ›
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