FedEx was indicted for shipping packages from illegal online pharmacies despite repeated warnings from U.S. drug enforcement officials.» Read More
SAN FRANCISCO— An Italian company whose mobile app allows San Francisco drivers to get paid for the public parking spaces they exit has temporarily shut down the service following an order from the city attorney.
Fred Buenrostro Jr. pleaded guilty in San Francisco federal court to fraud and bribery charges stemming from his time as chief executive of the California Public Employees' Retirement System from 2002 to 2008..
New York's attorney general filed a lawsuit Friday to block Lyft, the on-demand ride-sharing app, from operating in New York.
WASHINGTON— Would-be home sellers across the country are grappling with a once-in-a-lifetime problem: They have mortgage rates so absurdly low it would hurt them financially to sell. Doing so would mean giving up an irresistible rate in exchange for a new mortgage carrying a rate up to a percentage point higher.
July 11- Wells Fargo& Co, the largest U.S. mortgage lender, reported a 3 percent rise in quarterly profit and said it was seeing a number of signs that the U.S. economy was improving. Wells Fargo shares were down 1 percent at $51.25 before the opening bell on Friday.
NEW YORK— A stable housing market and fewer bad loans helped lift Wells Fargo's quarterly profit 3 percent. As the first major bank to post results this earnings season, San Francisco- based Wells Fargo& Co. sets the tone for the rest of the industry. Wells Fargo's revenue declined 1 percent to $21.1 billion.
DETROIT— The deadline passed Friday for thousands of creditors to vote on Detroit emergency manager Kevyn Orr's bankruptcy restructuring plan for the city. Ballots had to be received no later than 5 p.m. EDT by a consulting company in California to be counted in the largest municipal bankruptcy in U.S. history.
OAKLAND, Calif.— A federal judge has sentenced a California chemical engineer to 15 years in prison and fined him $28.3 million for a rare economic-espionage conviction for selling China a secret recipe to a widely used white pigment.
NEW YORK— Gap Inc. said Thursday that a key sales measure fell unexpectedly in June, as strong business at its Old Navy chain failed to offset sluggish sales at its namesake division and Banana Republic. The results included a 7 percent drop at its Gap stores, a 7 percent drop at Banana Republic and a 7 percent increase at Old Navy.
NEW YORK, July 10- A U.S. court on Thursday rejected an appeal by Taiwan- based AU Optronics Corp of the $500 million criminal fine the company was ordered to pay in 2012 after a conviction for price-fixing in the market for liquid crystal display panels. AU Optronics appealed it as excessive.
OAKLAND, Calif.— A Northern California chemical engineer is facing more than 20 years in prison for a rare economic-espionage conviction for selling to China the technology that creates a white pigment.
MILTON, Ga.— The high-priced prostitute accused of leaving a Google executive to die after injecting him with a lethal dose of heroin on his yacht had called 911 two months earlier when she found her boyfriend in the throes of a fatal overdose in their home.
SAN FRANCISCO, July 9- Apple Inc acknowledged on Wednesday it needs to address manufacturing partners' carbon emissions and its own rising water consumption, though the iPhone maker said it had cut back sharply on greenhouse gas output.
The decision was a victory for traditional broadcasters, such as CBS Corp, Comcast Corp's NBC, Walt Disney Co's ABC, and Twenty-First Century Fox Inc's Fox. CBS argued in a joint filing on Wednesday that the case should be dismissed in light of the Supreme Court ruling, but Aereo disagreed.
NEW YORK, July 9- The man accused of creating Silk Road, which U.S. authorities said was an online drug marketplace, lost his bid on Wednesday to dismiss a federal indictment accusing him of conspiring to deal illegal narcotics and launder money.
WASHINGTON— Google has chosen five charities to develop ideas using Web-connected Google Glass to enhance their work. After receiving 1,300 proposals, Google is announcing five nonprofits Wednesday that'll get a free pair of the glasses, a $25,000 grant and support from developers.
SAN FRANCISCO, July 8- Amazon.com Inc proposed that Hachette Book Group authors keep 100 percent of revenue from e-book sales while the two sides work through a thorny contract dispute that has kept some of the publisher's books off Amazon's website for months. In its own statement, Amazon countered with "We call baloney."
NEW YORK, July 8- A federal judge has denied Wells Fargo's latest bid to end a lawsuit brought by the Los Angeles city government accusing the bank of discriminatory lending that led to a wave of foreclosures among minority borrowers.
SAN FRANCISCO, July 8- Amazon.com Inc has proposed that Hachette authors keep 100 percent of revenue from digital book sales while both sides work to resolve a contractual dispute that has kept some Hachette books off its website for months, the Wall Street Journal cited people familiar with the matter as saying.
A ban on disruptive parking apps in San Francisco is about municipalities controlling parking environments as part of their wider public policy objectives, says Cherrie Fuzell, CEO of Parkmobile.