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  • UPDATE 1-CBOE to pass regulatory duties to FINRA Monday, 22 Dec 2014 | 3:43 PM ET

    CHICAGO, Dec 22- CBOE Holdings Inc, operator of the biggest U.S. stock options market, will cede regulatory duties to the securities industry's largest independent regulator next week, the company said on Monday. CBOE's Chicago Board Options Exchange and C2 Options Exchange hired the Financial Industry Regulatory Authority, or FINRA, to perform "the majority of...

  • NEW YORK— Eli Lilly will sell its heartworm treatment for dogs to garner U.S. approval for its $5.4 billion acquisition of the animal health division belonging to Norvartis. The Federal Trade Commission said Monday that it is requiring the sale of Eli Lilly's Sentinel heartworm products because the Novartis deal would reduce competition and lead to higher...

  • FAA's drone do's & dont's  Monday, 22 Dec 2014 | 1:17 PM ET
    A SteadiDrone QU4D aerial drone fitted with a GoPro video camera.

    With the consumer drone market soaring, CNBC's Josh Lipton discusses new FAA rules for drone operators.

  • CBOE to pass regulatory duties to FINRA Monday, 22 Dec 2014 | 1:12 PM ET

    CHICAGO, Dec 22- CBOE Holdings Inc, operator of the biggest U.S. stock options market, will cede regulatory duties to the securities industry's largest independent regulator next week, the company said on Monday. CBOE's Chicago Board Options Exchange and C2 Options Exchange hired the Financial Industry Regulatory Authority, or FINRA, to perform "the majority of...

  • TripAdvisor fined $600,000 by Italian anti-trust Monday, 22 Dec 2014 | 1:02 PM ET

    MILAN— Italy's antitrust authority has fined travel planning website TripAdvisor 500,000 euros following complaints of improper business practices lodged by a national hoteliers' association and a consumer protection agency. The antitrust authority said in a statement Monday that TripAdvisor had failed to adopt controls to prevent false reviews,...

  • US, industry launch drone safety campaign Monday, 22 Dec 2014 | 11:20 AM ET

    The campaign includes a website— www.knowbeforeyoufly.com— which advises both recreational and commercial drone operators of FAA regulations and how to fly their unmanned aircraft safely. The campaign was announced by the Association for Unmanned Vehicle Systems International and the Small UAV Coalition, both industry trade groups, and the Academy of...

  • BioCryst gets FDA approval for flu drug Rapivab Monday, 22 Dec 2014 | 11:07 AM ET

    NEW YORK— BioCryst Pharmaceuticals said Monday that U.S. regulators approved its drug Rapivab, an intravenous treatment for the flu. Shares of BioCryst Pharmaceuticals Inc. rose 17 cents to $11.33 in morning trading. Rapivab, or peramivir, was approved in Japan and South Korea in 2010 and is marketed in Japan by Shionogi and Co. It is only available in Korea on a...

  • Dec 22- Ocwen Financial Corp's executive chairman and founder, William Erbey, will step down as part of a $150 million legal settlement with New York's financial regulator. The settlement payment will be toward New York housing programs and foreclosed homeowners. New York Financial Services superintendent Benjamin Lawsky accused the company of harming...

  • *Regulators want to set capital "floor" for industry. *Proposals will reduce reliance on external credit ratings. LONDON, Dec 22- Global regulators have outlined measures to ensure capital held by banks does not fall below a certain level and to adopt a more consistent approach across the industry to measuring risk.

  • NY requires Ocwen reforms, $150M homeowner help Monday, 22 Dec 2014 | 9:30 AM ET

    ALBANY, N.Y.— New York financial regulators have reached a settlement with Ocwen Financial Corp. requiring the nation's largest subprime mortgage servicer to reform its practices and provide $150 million to help struggling New York homeowners. The consent order requires William Erbey to resign as executive chairman of the corporation and chairman of four...

  • SHANGHAI, Dec 22- China stocks closed up on Monday in volatile trade as electrical utilities rose and banks spiked, but gains were capped by news that the stock regulator was investigating a group of small-cap shares. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.3 percent, to 3,394.48 points, while the Shanghai Composite Index...

  • Dec 22- Ocwen Financial Corp's executive chairman, William Erbey, will step down as part of a legal settlement with New York's financial regulator, the Wall Street Journal reported, citing people familiar with the matter. In October, Ocwen said it set aside $100 million for a potential settlement with the New York banking regulator. Ocwen will also pay $150...

  • Dec 19- U.S. health regulators on Friday approved AbbVie's all-oral treatment for hepatitis C, and the company said the drug would cost $83,319 for a typical 12- week plan, a bit below its huge selling competitor Solvadi from Gilead Sciences. AbbVie's newly approved regimen is also less costly than Gilead's newest one-pill regimen that combines Sovaldi with...

  • US regulators close small Minnesota bank Friday, 19 Dec 2014 | 7:38 PM ET

    The Federal Deposit Insurance Corp. said Friday that it has taken over Northern Star Bank, based in Mankato, Minnesota. BankVista, based in Sartell, Minnesota, agreed to assume all of Northern Star Bank's deposits and to purchase essentially all of the failed bank's assets. Northern Star Bank's failure is expected to cost the federal deposit insurance fund $5.9...

  • WASHINGTON, Dec 19- President Barack Obama on Friday said he would ban exports of goods, technology or services to Ukraine's Crimea region, and called on Russia to end its annexation of the region. Obama also authorized the Treasury Department to impose sanctions on individuals and companies operating in the region. In a statement, Obama said his order "is...

  • FDA approves AbbVie combo hepatitis C treatment Friday, 19 Dec 2014 | 3:35 PM ET

    TRENTON, N.J.— Patients with chronic hepatitis C have a new option for treating the liver-damaging virus, with the approval of a combination treatment developed by AbbVie. The Food and Drug Administration on Friday approved the sale of a packaged treatment called Viekira Pak made by AbbVie Inc. of North Chicago, Illinois. It includes a combination pill, which...

  • National Labor Relations Board on Friday filed complaints against McDonald's Corp and its franchises for alleged labor violations, including the illegal firing and intimidation of staff who protested working conditions. NLRB General Counsel Richard Griffin filed complaints in 78 cases against the company and its franchisees from New York to Los...

  • Dec 19- AstraZeneca Plc's ovarian cancer drug has been granted an accelerated approval by the U.S. health regulator, a day after the treatment was approved by the European Commission. AstraZeneca expects potential sales of around $2 billion a year from the drug. London- based AstraZeneca's U.S.-listed shares were down about 1 percent at $71.41 in afternoon...

  • 1st drone in Nevada test program crashes in demo Friday, 19 Dec 2014 | 1:33 PM ET

    BOULDER CITY, Nev.— An aerial drone testing program got off to a bumpy start Friday in Nevada, when the first unmanned aircraft authorized to fly without direct Federal Aviation Administration supervision crashed during a ceremony at a remote site. Company and FAA officials said the drone wasn't damaged. "Protocol is to troubleshoot the problem," said Bruce...

  • Dec 19- A lawyer from the U.S. National Labor Relations Board on Friday filed complaints against McDonald's Corp and its franchisees for alleged labor violations. NLRB General Counsel Richard Griffin filed 13 complaints against the company and its franchisees from New York to Los Angeles, the board said.