A government investigation into airline collusion adds pressure to a sector that was "starting to bottom out," an analyst said.» Read More
WASHINGTON— As the Justice Department launches an investigation into possible collusion in the airline industry, experts say the government faces the burden of proving that carriers were deliberately signaling business decisions to each other. A particularly cold winter in the Northeast, for instance, might merit more flights to the Caribbean.
STOCKHOLM, July 2- Buying only parts of the GE Appliances business would not make sense, the head of Sweden's Electrolux said on Thursday, fighting to salvage a $3.3 billion deal after the United States moved to block it. The U.S. Justice Department filed a lawsuit on Wednesday to stop the Swedish company from buying General Electric Co's appliance unit, saying a...
WASHINGTON, July 1- The United States filed a lawsuit on Wednesday to stop Sweden's Electrolux AB, which owns the Frigidaire and Tappan brands, from buying General Electric Co's appliance business, the Justice Department said in a statement. "Electrolux's proposed acquisition of General Electric's appliance business would leave millions of Americans...
WASHINGTON, July 1- The United States filed a lawsuit on Wednesday aimed at stopping Electrolux AB from buying General Electric Co's appliance business, the Justice Department said in a statement.
The civil antitrust investigation by the Justice Department appears to focus on whether airlines illegally signaled to each other how quickly they would add new flights, routes and extra seats. Justice Department spokeswoman Emily Pierce confirmed that the department is looking into potential "unlawful coordination" among some airlines.
NEW YORK, June 30- A divided federal appeals court on Tuesday said Apple Inc orchestrated a conspiracy with five publishers to increase e-book prices, in a victory for the U.S. Justice Department. By a 2-1 vote, the 2nd U.S. Circuit Court of Appeals agreed with a lower court judge that the conspiracy violated federal antitrust law, and that the judge acted properly in...
Congressmen slammed Obama administration officials for hiring a failed hedge fund manager, but they made a big mistake.
CNBC's Hampton Pearson reports on the latest developments from the Supreme Court on the Affordable Care Act.
WASHINGTON, June 19- The United States has sued a Texas- based subsidiary of global defense company BAE Systems Plc for overcharging the U.S. Army in a contract to build 20,000 military trucks, the Department of Justice said on Friday. BAE Systems Inc, the U.S. unit of London- based BAE Systems Plc, did not immediately respond to a request for comment.
More than 240 people were charged with $712 million in false Medicare billing, the biggest health-care fraud takedown ever.
The cloud computing company, in its second report since going public, reported a narrower-than-expected quarterly loss.
WASHINGTON, June 9- Swiss banks Société Générale Private Banking SA and Berner Kantonalbank AH have agreed to pay the United States multimillion dollar penalties under a resolution announced on Tuesday by the U.S. Justice Department.
WASHINGTON, June 9- Federal prosecutors are weighing criminal wire fraud charges against General Motors over the company's failure to recall vehicles equipped with faulty ignition switches, the Wall Street Journal reported on Tuesday. Reuters could not immediately confirm the report, and representatives for the U.S. Department of Justice and General...
Last week, reports revealed one duodenoscope manufacturer, Olympus Corp, was being investigated by the federal agency, but the broader reach of the investigation, including subpoenas to other makers including Fujifilm Holdings Corp and Pentax Medical, a unit of Ricoh, has not been reported previously, the newspaper said. Reuters was not able to immediately...
CNBC's Julia Boorstin reports the Department of Justice's antitrust division is investigating theater chains.
WASHINGTON, June 1- First Tennessee Bank agreed to pay $212.5 million to resolve a case involving Federal Housing Administration- insured mortgage lending, the U.S. Justice Department said on Monday. Benjamin Mizer of the Justice Department's Civil Division said First Tennessee's "reckless underwriting has resulted in significant losses of federal funds...
Get rid of FIFA and start over, says brand strategist David Melancon, CEO of BTR.
FIFA's annual meeting will take place as planned, despite arrests made in the scandal, reports CNBC's Wilfred Frost.
U.S. legal authorities said they have the jurisdiction to go after some FIFA officials for corruption charges.
The Justice Department has announced charges against FIFA officials, reports CNBC's Wilfred Frost.