SEC 'Probably' Drafting JPMorgan Subpoenas: Former Agent
U.S. Securities and Exchange Commission investigators are probably in the process of drafting subpoenas against JPMorgan Chase & Co. (NYSE: JPM), if they have not already filed them, regarding the bank's loss of $2 billion through proprietary trading, said ex-SEC New York Regional assistant director Joseph Dever.
Hunting the Great White Whale: SEC Eyes JPMorgan's Risky, Costly Trading
U.S. Securities and Exchange Commission (SEC) regulators are monitoring JPMorgan Chase & Company (NYSE: JPM) following the disclosure that the bank lost $2 billion in bad hedging action carried out by the so-called Whale of London, SEC Chairwoman Mary Schapiro said Friday.
Bad Karma: NHTSA Safety Probe Into Fisker Electric Car Fire Possible
Fisker Automotive has been struggling recently, and reports that one of its post-recall Fisker Karma cars lit up a suburban Houston garage like a match in a fireworks factory are not helping the image of the company, and unlike the grinning Aventador guy, it seems doubtful that the owner of the crisped Karma has anything to smile about since his $103,000 car set fire to his Acura NSX and Mercedes-Benz SUV as well.
Consumer Sentiment Improves In May: Job Market May Follow
Consumer sentiment crept up slightly in May to its highest level in four years as gasoline prices declined and many perceived the job market to be improving.
Qatar Sovereign Fund On Buying Spree: Royal Dutch Shell, Xstrata, Eni, Total
The Qatar Investment Authority (QIA) is on an investment spree, bulking up its holdings in several major companies including Royal Dutch Shell Plc (NYSE: RDS.A), Eni SpA (NYSE: E), and Xstrata PLC (London: XTA), and the sovereign fund has already taken a holding Total SA (NYSE: TOT) and is pursuing avenues to invest in Glencore International Plc (London: GLEN), sources reported Friday.
Ford Recalls Even More Windstar Vans For Axle Problems
Ford Motor announced its second recall of Windstar vans for axle problems in two days Thursday, bringing the number of Windstars recalled so far this month to 36,000.
Top 10 Mom Cars - Honda CRV Favorite For Moms In Cars
With Mother?s Day right around the corner, TrueCar.com released its list of the top 10 most popular cars for moms on Thursday, and the results of what moms in cars prefer aren?t exactly surprising. The data, which the car sales and pricing website collected over the course of 2011, shows that Honda and Nissan are the two companies with the greatest sway among mothers, with their CR-V and Altima models leading the way. Slightly unexpected, though, is that only one minivan, the Honda Ody...
Apple, Foxconn To Split Costs To Upgrade Factory Working Conditions
Apple Inc. (NASDAQ: AAPL) and its primary iPad and iPhone supplier, Foxconn Technology Company Ltd. (Taipei: 2354), will share the costs of improving labor conditions inChinese factories, Foxconn CEO Terry Gou said.
Falling Petroleum and Natural Gas Prices Push US Import Prices Lower
The price of U.S. imports fell 0.5 percent in April, a decrease driven by lower declining natural gas prices, while the price of U.S. exports rose 0.4 percent, according to a Department of Labor report Thursday.
2013 Cadillac XTS Will Come With Free iPad, Teaching Apps
Every new 2013 Cadillac XTS will come with an Apple Incorporated (NASDAQ: AAPL) iPad with a suite of customer education apps pre-loaded to teach new owners about the car's Cadillac User Experience (CUE), General Motors Company (NYSE: GM) announced on Wednesday.
Ford Recalls 27,000 Windstar Vans For Axle Problems
Ford Motor Co. (NYSE: F) is recalling 27,000 model year 1998 to 2003 Windstar vans which suffer from a problem which can cause the rear axle of the vehicle to fracture, increasing the risk of crash, a notice from the National Highway Traffic Safety Administration (NHTSA) said Wednesday.
No 'Top Gear U.K'. 'Til 2013 Because 'Fat People Singing' on Simon Cowell's TV Show: Clarkson
There will be no new Top Gear until 2013 except for a Christmas special because of fat people singing and Simon Cowell, the show's controversial but beloved host Jeremy Clarkson confirmed on Twitter Wednesday.
Toyota Quarterly Earnings Up 500%, Shares Soar Despite Hard Fiscal 2012
Toyota Motor Corporation (NYSE: TM) reported a 30 percent drop in income for its fiscal year ended March 31, but the company is nevertheless making headway down the road to recovery from last year's earthquake in Japan and floods in Thailand as income for January-March 2012 increased by a factor of five.
GlaxoSmithKline Launches Hostile Takeover Bid for Human Genome Sciences
GlaxoSmithKline Plc (NYSE: GSK) will begin a $2.6 billion hostile takeover bid for Human Genome Sciences (NASDAQ: HGSI), the company announced Wednesday.
US Freezes Assets Of Sinaloa Drug Cartel Kingpin's Sons
The U.S. Department of the Treasury froze the assets of four key operatives of the feared Mexican Sinaloa drug cartel, including two sons of drug kingpin Joaquin Chapo Guzman Loera, in the fifth such designation directed against the Sinaloa Cartel's leadership.
Carlos Slim's América Móvil Makes Bid for Dutch KPN Cellular Company
Mexican business-tycoon Carlos Slim Helú's mobile telecommunications company América Móvil S.A.B. de C.V. (NYSE: AMX) made an unsolicited bid to raise its stake in Dutch mobile phone company Koninklijke KPN N.V. (Amsterdam: KPN) by $3.4 billion, KPN announced Tuesday.
Ebay to Open Bangalore, India Software Development Center
EBay Incorporated (NASDAQ: EBAY) will open a new software development center in Bangalore, India which will employ as many as 1,000 engineers to support its eBay Marketplaces and PayPal products, the company announced Tuesday.
Toyota RAV4 EV Impresses, But $50,000 Price Shocks
Toyota Motor Corporation (NYSE: TM) debuted the new 2012 RAV4 EV on Monday in Los Angeles at the 26th annual Electric Vehicle Symposium. The new electric RAV4 will have a range of approximately 100 miles with a charging time of roughly 6 hours, but the high price of $49,800 MSRP could leave some would-by buyers shocked.
Brake Failure: Chrysler 300 and Dodge Charger Cars Recalled
Chrysler Group LLC is recalling 119,072 2011 and 2012 model year Dodge Charger and Chrysler 300 cars because of potential antilock braking system failure caused by an overheated power distribution center.
Singapore's Temasek Investing $468M in US LNG Venture
Temasek Holdings Pte. Ltd., the Singaporean sovereign-investment vehicle and RRJ Capital, a private equity fund run by former Temasek executive Richard Ong, will jointly invest about $468 million in Houston's Cheniere Energy Incorporated (Nyseamex: LNG), as Singapore pursues its goal of becoming an Asian hub for liquid natural gas (LNG).
Treasury Dept. to Sell $5 Billion of Insurance Giant AIG
The U.S. Treasury Department will sell $5 billion in shares of American International Group Incorporated (NYSE: AIG) as it continues to divest its balance sheets of the bailed-out insurance company, which has agreed to purchase $2 billion of its own shares as part of the stock offering, the company announced Monday.
Renault-Nissan To Buy Majority Stake In Russian Lada Maker Avtovaz For $750M
The Renault-Nissan Alliance will buy an indirect majority stake in Russian car company OAO Avtovaz, maker of Lada brand cars, for $750 million, the automakers' alliance announced Friday.
10 Best Driving Songs For Your Bentley Mulsanne ? Hip-Hop to Opera
A recent test drive of the Bentley Mulsanne proved that the powerful, elegant beast?s ?Naim for Bentley? sound system can shake your to the core. The Bentley Mulsanne?s 20 speaker, 2200 Watt sound system with eight dedicated Digital Signal Processing units makes the car a ready replacement for concert attendance.
Bentley Mulsanne Review: A Bittersweet Test Drive of Elegant Perfection
The Bentley Mulsanne was parked across the street from our non-descript New York office tower. It gleamed in the sun, but nevertheless a Bentley employee was giving it one last spit and polish (although I'm sure that Bentley would never use spit to polish unless it came from a special Bentley tended pride of lions; it's just that lux).
CalSTRS Sues Wal-Mart Over Mexico Bribery Allegations
The California State Teachers' Retirement System (CalSTRS) is suing Wal-Mart Stores Inc. (NYSE: WMT), accusing leaders of the world's biggest retailer of not upholding the best interest of shareholders by quashing an investigation of bribery of public officials by its Mexican subsidiary.
Crazy Juke-R Race Car Destroys Dubai Supercars in Desert Nemesis Video - And You Can Buy It
The wicked little Juke-R ? the unholy offspring of a Nissan Juke mated to GT-R engine ? can tear up the track at speeds up to 160 mph and recently starred in its own noir themed movie ?Desert Nemesis? as it faced off under the able hand of driver Lucas Ordonez against Dubai racing master Salah Salahuddin?s stable of supercars. And now Nissan says the car will be available to buy ? as least if you?re super-rich.
German Car Companies Win: Sales Rose in April Bucking Euro Zone Trend
German car companies won in April as domestic sales rose 2.9 percent, bucking a wider euro zone trend of declining sales, but exports of German-made cars fell substantially last month.
BP Wins Deepwater Horizon Oil Spill Settlement Approval
BP Plc. (NYSE: BP) won preliminary approval of its proposed $7.8 billion settlement of claims relating to the 2010 Deepwater Horizon oil spill in the Gulf of Mexico.
GM First Quarter Earnings Slump Despite Strong U.S. Sales
General Motors Company (NYSE: GM), the world's largest auto company, reported profits down 69 percent for the first quarter, but the loss resulted from outsized, one-time profits the year before. Overall performance for the company was strong, with revenue driven 4.4 percent higher by strong U.S. sales and improved global margins.
Wynn Resorts Gets Gov't OK For Macau Cotai Casino
Wynn Resorts, Limited (Nasdaq: WYNN) received approval to begin breaking ground at its 51-acre casino sight on Macau's Cotai strip, an approval that has been in limbo since March, the company said Wednesday.