LANSING, Mich.— The U.S. auto industry's home state of Michigan is preparing for the advent of self-driving cars by pushing legislation to allow for public sales and operation— a significant expansion beyond an existing state law that sanctions such vehicles for testing only. While widespread use of driverless cars may be years away, lawmakers and... » Read More
The New York Court of Appeals upheld Wednesday a lower court ruling in a lawsuit involving the compensation paid to former New York Stock Exchange CEO Richard Grasso.
In a novel approach, the defense in an obscenity trial in Florida plans to use publicly accessible Google search data to try to persuade jurors that their neighbors have broader interests than they might have thought.
Google was named Monday in a trade secrets lawsuit alleging that the company's business software unit copied a tiny start-up's tool for moving customers off of Microsoft software onto Google's.
The US Government has been trying to find ways to reduce the country's dependence on imported oil in a number of ways.
Two former Bear Stearns managers have surrendered to face criminal charges linked to the collapse of a hedge fund that bet heavily into subprime mortgages before the market collapsed, federal authorities said.
The indictment of two Bear Stearns hedge fund managers for securities fraud is expected to be announced later on Thursday in connection with a fund tied to the subprime lending market, CNBC has learned.
Morgan Stanley will take a $120 million revenue hit after a suspected rogue trader incorrectly valued his positions in the credit derivatives market, the Financial Times reported on Thursday.
President Bush urged Congress to end a ban on offshore oil drilling, seeking to address rising consumer angst over gasoline prices.
The former number two at EADS, ex-strategy chief Jean-Paul Gut, has been placed under formal investigation in a French probe into suspected insider trading at the Airbus parent company, a judicial source said on Wednesday.
The European Commission, a thorn in Microsoft's side for its antitrust campaigns against the software giant, is falling short in its own internal attempt to promote more competition in the technology sector.
CNBC has learned the estate case of hedge fund manager Seth Tobias has been settled, pending the approval of a Florida probate judge on Monday. Tobias, the founder of the Circle T Family of Funds and a frequent CNBC guest, was found dead in his swimming pool in the early morning hours of September 4. He was 44 years old.
Britain's financial watchdog said investors with significant short positions in companies issuing rights will have to disclose those positions, as it unveiled a review of the efficiency of the capital-raising process.
A federal judge ruled on Wednesday that two investment firms waging a proxy battle at railroad CSX violated securities law in acquiring large stakes in the rail company, but allowed them to continue their fight at the annual shareholder meeting.
The U.S. Supreme Court said Monday that it would hear a Philip Morris USA appeal seeking to overturn a $79.5 million punitive damages award won by the widow of a longtime Oregon smoker.
Corrupt officials are raking off a sum equivalent to one third of Russia's annual budget, or $120 billion, a senior prosecutor was quoted as saying on Friday.
Under pressure from the authorities, UBS is considering whether to divulge the names of up to 20,000 of its well-heeled American clients, the NYT reports.
Not an ENTIRELY serious blog about the ECB, monetary policy and Eurozone rate prospects. Correction: an entirely UNserious blog in vague connection with the ECB and no connection with monetary policy at all. Although... you never know. (And, sorry: no juicy tales about Playgirl of the Month being introduced to spice up ECB monthly reports, either.)
Broadcom co-founder Henry T. Nicholas III was indicted Thursday on fraud, conspiracy and drug charges—including allegations he spiked the drinks of technology executives and customer representatives with ecstasy and maintained a warehouse for ecstasy, cocaine and methamphetamine.
He hit all the right notes. Overtax. Overspend. Over-regulate. Central planning. Command-and-control of the U.S. economy. All in the name of a dubious global-warming theory.
I just interviewed MLB.com CEO Bob Bowman about their loss in the fantasy baseball case, as the Supreme Court let stand the appeals court opinion that players names when tied to statistics are not subject to copyright law.