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  • LONDON, March 5- The UK subsidiary of Bank of Beirut has been fined 2.1 million pounds for misleading the regulator and prevented from signing up new customers from some jurisdictions for 126 days, the Financial Conduct Authority said. The FCA said on Thursday it had also fined two of the bank's employees after The Bank of Beirut Ltd repeatedly provided...

  • UK FINANCIAL REGULATOR SAYS FINES BANK OF BEIRUT UK LTD 2.1 MILLION POUNDS AFTER IT MISLED REGULATOR.

  • BEIJING, March 5- China's transport minister said on Thursday he hopes to have regulations issued on using mobile apps to book private cars within the first half of 2015, state media reported, amid doubts on the legal status in China of Uber and similar services. In January, China's Ministry of Transport banned taxi hailing apps such as Uber Technologies Inc and...

  • NEW YORK, March 5- When U.S. auto lender Ally Financial Inc failed a key regulatory test two years ago, its executives were surprised to learn that the main reason was that the Federal Reserve treated loans to car dealers just like riskier credit to energy producers or manufacturers. "We felt like in some areas very broad approaches were being taken when maybe it...

  • Handmade goods website operator Etsy files for IPO Wednesday, 4 Mar 2015 | 6:37 PM ET

    March 4- Etsy Inc, which operates a website that sells handmade goods and craft supplies, filed with U.S. regulators on Wednesday for an initial public offering of common stock. Goldman Sachs& Co, Allen& Co LLC and Morgan Stanley are underwriting the IPO, Brooklyn, New York- based Etsy told the U. S Securities and Exchange Commission in a preliminary prospectus.

  • INDIANAPOLIS— Proposed regulations for the liquids used in electronic cigarettes that advanced Wednesday in the Indiana Legislature wouldn't add "vaping" to the state's smoking ban as the state attorney general and several health advocacy groups had requested. The state Senate and House have approved by wide margins similar bills on regulating the...

  • NEW YORK, March 4- The United States produced a record 25.7 trillion cubic feet of natural gas in 2014 according to preliminary estimates published by the Energy Information Administration on Feb 27. Gas production has risen 27 percent since 2008 even though the number of rigs employed drilling for gas has declined by more than 80 percent over the same period.

  • FDA approves Bristol-Myers drug for lung cancer Wednesday, 4 Mar 2015 | 2:22 PM ET

    WASHINGTON— The Food and Drug Administration on Wednesday expanded approval of an innovative Bristol-Myers Squibb drug to treat the most common form of lung cancer. The FDA first approved Bristol's drug in December for melanoma, the deadliest form of skin cancer. Evercore ISI analyst Mark Schoenebaum said in an investment note that Opdivo could garner sales...

  • NEW YORK, March 4- A U.S. judge has dismissed antitrust litigation accusing a variety of Wall Street banks and commodity merchants of conspiring to drive up aluminum prices by reducing supply. District Judge Katherine Forrest in Manhattan rejected claims brought by aluminum purchasers against several defendants including Goldman Sachs Group Inc, JPMorgan...

  • UPDATE 2-Turkey's watchdog seizes Bank Asya stake Wednesday, 4 Mar 2015 | 12:43 PM ET

    ISTANBUL, March 4- Turkish banking regulators on Wednesday seized a small stake in the Islamic lender Bank Asya over an alleged illegal share sale, the latest round in a battle between Ankara and a U.S.-based Muslim cleric. The campaign has added to investor fears that political interventions are damaging Turkey's financial system. The banking watchdog said...

  • NEW YORK, March 4- A U.S. judge dismissed antitrust litigation accusing the parent of the London Metal Exchange, the large mining company Glencore Plc and two other foreign defendants of being part of a conspiracy among Wall Street banks and commodity merchants to drive up aluminum prices by reducing supply. District Judge Katherine Forrest in Manhattan ruled...

  • WASHINGTON, March 4- A top U.S. regulator is calling for new rules for brokers who make markets in over-the-counter microcap stocks, saying the current regulations are lax and may lead to poor-quality pricing. Luis Aguilar, a Democratic member of the Securities and Exchange Commission, urged consideration of the reforms during a meeting on Wednesday of a...

  • ALBUQUERQUE, N.M.— A California- based company chaired by entrepreneur Elon Musk said Wednesday it has set its sights on expanding the number of homes in New Mexico outfitted with solar panels— a move that could fuel a regulatory battle over tax credits and other incentives for the industry. SolarCity announced plans that include opening an operations center in...

  • SHANGHAI, March 4- Chinese e-commerce titan Alibaba Group Holding Ltd has invested 2.4 billion yuan in TV program producer Beijing Enlight Media Co Ltd, Beijing Enlight said in a regulatory filing on Wednesday. The move follows investments by Alibaba worth more than $3.1 billion in the entertainment industry last year as the company aggressively expands...

  • SHANGHAI, March 4- U.S. companies in China have a less rosy outlook for business conditions over the next five years due to a slowing economy, an "opaque" regulatory environment and rising domestic competition, a U.S. business lobby survey showed on Wednesday. The annual report by the American Chamber of Commerce in Shanghai- the self-dubbed voice of American...

  • Republicans on the committee that oversees financial services disagree, and Texas Representative Randy Neugebauer plans to introduce a bill later this week to replace the agency's director with a five-person commission appointed by the president. "Sometimes, I think you are trying to do good, but in the end, what you do creates harm to an industry where people...

  • WASHINGTON, March 3- The Federal Aviation Administration is seeking ways to speed up the approval process for commercial drone operations, but its efforts have been hindered by its lack of authority to review multiple applications on a group basis, the FAA chief said on Tuesday. The FAA recently proposed new regulations that would lift the current ban on most...

  • TORONTO, March 3- Canada's stock market regulator said on Tuesday it will amend or cancel trades in the shares of tiny pharmaceutical company Immunovaccine Inc after they surged on Friday following a hoax. The stock jumped more than 30 percent to 89 Canadian cents after an unauthorized statement said Immunovaccine had entered a partnership with a much larger...

  • NEW YORK— The U.S. Department of Justice says JPMorgan Chase will pay $50 million to 25,000 homeowners for failing to properly review payment-change notices sent to homeowners who were in bankruptcy. The Justice Department says JPMorgan Chase acknowledged it filed about 25,000 payment change notices that were sent to homeowners without a proper review.

  • DETROIT— U.S. safety regulators are investigating reports of steering problems that could affect up to 1,500 Pierce fire trucks nationwide. The National Highway Traffic Safety Administration says the probe covers trucks made since the 2004 model year. Also, the agency cited media reports of wheels falling off trucks three times the Baltimore area.