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  • Microsoft to pay China $140 mln for 'tax evasion' Tuesday, 25 Nov 2014 | 4:38 PM ET

    SEATTLE, Nov 25- China has levied about $140 million in back taxes from Microsoft Corp in the first major case concerning cross-border tax evasion in the country, as regulators ramp up pressure on U.S. corporations doing business there. "In 2012 the tax authorities of China and the United States agreed to a bilateral advanced pricing agreement with regards to...

  • HSBC to pay $12.5 million to settle SEC charge Tuesday, 25 Nov 2014 | 4:37 PM ET

    The SEC says HSBC Private Bank began doing so more than 10 years ago and collected fees totaling about $5.7 million. HSBC, Europe's largest bank by market value, said in a statement that it is pleased to have reached a settlement with the SEC. According to the SEC, HSBC Private Bank decided to exit the U.S. cross-border business in 2010..

  • BRUSSELS, Nov 25- The United States voiced concern on Tuesday over a draft plan by two EU lawmakers to break up Google Inc, saying politicians should not influence the EU's antitrust inquiry into the world's most popular Internet search engine. A spokeswoman for Guenther Oettinger, European commissioner for digital affairs, confirmed his opposition to...

  • WASHINGTON, Nov 25- The U.S. Supreme Court on Tuesday agreed to weigh a challenge by industry groups and some states to an Obama administration regulation intended to limit emissions of mercury and other hazardous pollutants mainly from coal-fired power plants. The EPA rule, if left intact, could help spur utility companies to shut down some coal-fired plants...

  • WASHINGTON, Nov 25- HSBC Holdings Plc will pay $12.5 million to resolve charges that its Swiss private banking unit illegally offered services to U.S. clients without being properly registered, the U.S. Securities and Exchange Commission said on Tuesday. The SEC said HSBC's Swiss unit amassed 368 U.S. client accounts, and its employees traveled to the United...

  • BRUSSELS, Nov 25- The United States voiced concern on Tuesday over a draft plan by two EU lawmakers to break up Google Inc, saying politicians should not influence the EU's antitrust inquiry into the world's most popular Internet search engine. The European Commission has been investigating Google for four years following complaints by rivals and has yet to...

  • Home Depot faces dozens of breach-related lawsuits Tuesday, 25 Nov 2014 | 8:12 AM ET

    Home Depot faces at least 44 lawsuits in the United States and Canada over a massive data breach earlier this year that affected 56 million debit and credit cards. But those expenses aren't clear yet because the cases are in early stages, the company said in a quarterly filing with the Securities and Exchange Commission. The company said earlier this month after...

  • LONDON, Nov 25- Scott Wotherspoon runs a small tiling firm in Scotland. The 43- year-old borrowed about $4 million from Royal Bank of Scotland. He thinks he is due compensation for mis-selling, like thousands of other businesses that Britain's financial watchdog has ruled are eligible.

  • SHANGHAI, Nov 25- China's central bank cut the yield for a key short-term money rate on Tuesday for the fourth time this year, as regulators step up efforts to reduce funding pressure on Chinese companies. Expectations for further easing have stimulated stock markets in China and abroad, while depressing domestic bond yields and putting downward pressure on...

  • Man pleads guilty to fraud over helicopter weights Monday, 24 Nov 2014 | 8:42 PM ET

    GRANTS PASS, Ore.— A former executive of a southern Oregon company whose helicopter crashed, killing nine people fighting a 2008 wildfire, has pleaded guilty to providing false aircraft weights to the U.S. Forest Service to win a firefighting contract. Steven Metheny, of Medford, pleaded guilty Monday in federal court in Medford to fraud and conspiracy, two of the...

  • Bayer: FDA will speed review of 2 respiratory meds Monday, 24 Nov 2014 | 5:51 PM ET

    WHIPPANY, N.J.— Two medicines Bayer HealthCare Pharmaceuticals Inc. is testing for respiratory disorders will get priority review by U.S. regulators and other benefits under a 2012 program to boost development of new antibiotics. Bayer HealthCare, based in Whippany, New Jersey, said Monday the Food and Drug Administration has designated two of its...

  • Honda admits failing to report deaths, injuries Monday, 24 Nov 2014 | 4:55 PM ET

    DETROIT— Honda is admitting that it failed to report more than 1,700 injury and death claims about its vehicles to U.S. safety regulators, a violation of federal law. The agency said at the time that Honda may have failed to report incidents related to air bags made by Takata Corp. as well as other defective parts. Honda has recalled more than 5 million vehicles in...

  • Citigroup fined $15M over analyst communications Monday, 24 Nov 2014 | 12:36 PM ET

    NEW YORK— The Financial Industry Regulatory Authority has fined Citigroup $15 million, saying Monday that it did not do enough to prevent improper communications between its analysts and the bank's clients. Between January 2005 and February 2014, Citi sent about 100 warnings about those inappropriate communications but when analysts broke rules, there...

  • Nov 24- A unit of Citigroup Inc must pay a $15 million fine for not adequately supervising communications among its equity research analysts, clients and the firm's sales and trading staff, Wall Street's industry funded regulator said on Monday. Citigroup, which settled the allegations with FINRA, neither admitted nor denied the charges, but consented to the...

  • Nov 24- A unit of Citigroup Inc must pay a $15 million fine for not adequately supervising communications among its equity research analysts, clients and the firm's sales and trading staff, Wall Street's industry funded regulator said on Monday. Citigroup, which settled the allegations with FINRA, neither admitted nor denied the charges, but consented to the...

  • BioMarin Pharma offers about $680M for Prosensa Monday, 24 Nov 2014 | 7:35 AM ET

    SAN RAFAEL, Calif.— BioMarin Pharmaceutical will pay $680 million in cash for the Dutch biotech company Prosensa in a bid to strengthen its pipeline of genetic disorder treatments. The San Rafael, California, company also said it will make two approximately $80 million milestone payments to Prosensa shareholders if U.S. and European regulators approve the...

  • Nov 24- Canadian buyout firm Onex Corp said it would buy Swiss packaging group SIG Combibloc Group AG for up to 3.57 billion euros. The deal is expected to close in the first quarter of 2015, subject to regulatory approvals, Onex said. Reuters reported earlier this month that Onex, Canada's largest listed private equity firm, was leading the bidding for SIG...

  • A bid by China to rein in its "shadow banking" activity is producing results, thanks to slowing economic growth and tighter regulation.

  • SHANGHAI/ BEIJING, Nov 24- A bid by China to rein in its "shadow banking" activity is producing results, thanks to slowing economic growth and tighter regulation. But some success for a policy drive to curb risky lending is not all good news for Beijing, as smaller companies may face even bigger struggles to find funding. A cut in interest rates, announced by Beijing on...

  • The FCC had asked media companies to disclose their contracts with pay-TV providers as it reviewed AT&T Inc's acquisition of DirecTV and Comcast Corp's merger with Time Warner Cable Inc.. Media companies including Time Warner, Walt Disney Co and CBS Corp had approached the U.S. Court of Appeals for the District of Columbia Circuit, saying the FCC's order would...