Edition:
United Kingdom

Jonathan Stempel

Sears sues Lampert, claiming he looted assets and drove it into bankruptcy

18 Apr 2019

NEW YORK Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars of assets from the retailer before it went bankrupt.

Japan extradites father, son charged by U.S. in $1.5 billion Ponzi scheme

18 Apr 2019

Japan has extradited a father and son to the United States to face charges in Las Vegas over their alleged roles in a $1.5 billion Ponzi scheme that bilked thousands of Japanese residents.

Apple accused in U.S. lawsuit of securities fraud over iPhone sales in China

17 Apr 2019

Apple Inc was accused in a new lawsuit of securities fraud for concealing a slump in demand for iPhones, particularly in China, leading to a $74 billion (£57 billion) one-day slide in its market value once the truth became known.

GE to pay $1.5 billion U.S. fine over crisis-era subprime mortgages

12 Apr 2019

General Electric Co will pay a $1.5 billion (£1.2 billion) civil fine to resolve a long-running U.S. probe into defective subprime mortgages from its former WMC Mortgage unit prior to the 2008 global financial crisis.

New York plans to sue EPA over GE's 'incomplete' Hudson River cleanup

11 Apr 2019

NEW YORK New York state officials plan to sue the U.S. Environmental Protection Agency for allowing General Electric Co to stop clearing the Hudson River of PCB contamination before the cleanup work was finished.

Boeing shareholders sue over 737 MAX crashes, disclosures

10 Apr 2019

Boeing Co's legal troubles grew on Tuesday as a new lawsuit accused the company of defrauding shareholders by concealing safety deficiencies in its 737 MAX planes before two fatal crashes led to their worldwide grounding.

U.S. charges 24 in $1.2 billion Medicare orthotic brace fraud

09 Apr 2019

U.S. authorities on Tuesday said they have broken up a $1.2 billion Medicare fraud in which doctors, telemarketers and owners of medical equipment companies peddled medically unnecessary orthotic braces to hundreds of thousands of elderly and disabled patients.

Yahoo strikes $117.5 million data breach settlement after earlier accord rejected

09 Apr 2019

Yahoo has struck a revised $117.5 million settlement with millions of people whose email addresses and other personal information were stolen in the largest data breach in history.

World News

Yellow vest demonstrators, police clash in Paris

Clashes broke out between dozens of demonstrators and police in Paris on the 23rd Saturday of yellow-vest protests after authorities warned that rioters could return to the French capital to spark a new wave of violence.