Despite numerous sources of credit, Hanjin Shipping is still short of 270 billion won to unload all of its cargo. The non-unloading of its cargo is likely to impact the upcoming holiday shopping season. In a development that could act… Read More ›
Regulations & Legal
Barclays told to settle CFTC charge by paying $500,000
The charges relate to deficiencies of record keeping for the FY 2009-2012. The U.S. Commodity Futures Trading Commission has stated that it has ordered Barclays Bank PLC to pay $500,000 as settlement charges for deficiencies related to record-keeping. The agency… Read More ›
Google gets more time to respond to EU’s 3 antitrust charges
The European Commission has granted Google more time to respond to its antitrust charges. If convicted Google will have to shell out $7.4 billion for each charge of up to 10% of its global turnover. The European Commission has informed… Read More ›
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 ›
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 ›
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 ›
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 ›
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 ›
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 ›
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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