Bank of America pays $42 million fine in New York ‘masking’ probe
NEW YORK (Reuters) – Bank of America Corp (BAC.N) will pay a $42 million fine and admitted wrongdoing to settle claims by New York’s attorney general that it fraudulently routed…
Spotify says about two million users suppressing ads without paying
(Reuters) – Music streaming service Spotify Technology SA said on Friday about 2 million of its non-paying users were suppressing advertisements, highlighting a potential revenue risk for the soon-to-be public…
U.S. lawmakers formally ask Facebook CEO to testify on user data
WASHINGTON (Reuters) – U.S. lawmakers on Friday formally asked Facebook Inc’s (FB.O) Mark Zuckerberg to explain at a Washington hearing how 50 million users’ data got into the hands of…
Success for Uber’s direct loan despite driverless fatality
NEW YORK (LPC) – Uber Technologies’ self-arranged term loan B was increased to US$1.5bn, justifying the taxi app company’s unconventional approach to raising the loan and succeeding despite news that…
Citi sets restrictions on gun sales by retail clients
(Reuters) – Citigroup Inc added restrictions on firearms sales for new retail-sector clients, the Wall Street bank said citi.us/2FVnjJj on Thursday, the strongest move to date by a major U.S.…
Wall Street gripped by trade war fears
(Reuters) – The three major U.S. indexes fell more than 1.5 percent on Thursday, on track for their steepest drop in six weeks, gripped by the growing threat of a…
U.S. carmaker Ford, India’s Mahindra to develop SUVs, electric vehicle
NEW DELHI (Reuters) – U.S. carmaker Ford Motor Co (F.N) and India’s Mahindra & Mahindra (MAHM.NS) said on Thursday they have signed an agreement to develop midsize and compact sports…
Wall Street opens flat, tech drags ahead of Fed
(Reuters) – U.S. stocks opened little changed on Wednesday as traders moved cautiously ahead of an expected Federal Reserve interest rate hike, while a drop in Facebook Inc’s (FB.O) shares…
Academic behind Facebook breach says political influence was exaggerated
LONDON (Reuters) – The consultancy at the center of a storm over Facebook (FB.O) data greatly exaggerated its role in Donald Trump’s 2016 U.S. presidential victory and would not have…
Hyundai Motor shares tumble following U.S. probe of air bag failures
SEOUL (Reuters) – Shares of Hyundai Motor slid on Monday after a U.S. regulator said it had opened a probe into why some air bags failed to deploy in Hyundai…