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…
Abbott’s Alere resolves U.S. diagnostic device probe for $33.2 million
BOSTON (Reuters) – Alere Inc has agreed to pay $33.2 million to resolve claims it knowingly sold unreliable diagnostic testing devices to hospitals prior to its acquisition by Abbott Laboratories…
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.…
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…
AbbVie’s lung cancer drug data disappoints; shares slump
(Reuters) – AbbVie Inc’s experimental lung cancer drug data was not effective enough to seek a faster approval, in a setback to the company’s efforts to build its cancer drug…
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…