NEW YORK, Aug 4- A federal appeals court has revived litigation against Visa Inc, Mastercard Inc and several U.S. banks accusing them of conspiring to inflate the prices of ATM access fees in violation of antitrust law. Their lawsuits accused Visa and MasterCard of adopting rules protecting themselves from competition with lower-cost ATM network.» Read More
With refiners failing to operate at maximum capacity, Sen. Ron Wyden (D-Ore.) proposed a bill to take away government subsidies from oil companies if they do not increase refiner capacity."If you really want to help consumers who are getting clobbered at the pump, you've got to expand refinery capacity," Wyden said on "Morning Call."
Twelve minutes seems like an eternity in television land, but when you report an in-depth piece, there is inevitably juicy tidbits that end up never seeing the light of day. That's what happened with my look at the psychology behind a hedge fund con. It's the story of a college undergrad, Hakan Yalincak, who engaged in credit card fraud, hedge fund fraud and check kiting, in a classic Wall Street swindle. And here's the kicker: the targets of the scam were hedge fund traders and managers who worked at some of the most successful...
A showdown is looming between the White House and Congress as the Senate prepares to introduce a bill that attempts to force China to loosen the reigns on its currency. Supporters of the legislation like Lloyd Wood from the American Manufacturing Trade Action Coalition say it’s about time for a crackdown, while critics like Daniel Ikenson from the CATO Center for Trade Policy Studies say legislation like this will only lead to an economic and diplomatic rift between the two world superpowers. The two analysts discussed their insights on “Power Lunch.”
Bank of America has accused a Dutch court of unlawful action by blocking its $21 billion purchase of ABN Amro's U.S. unit LaSalle Bank in an appeal filing, the Financial Times reported on Friday.
Imagine this. You live in the Orlando area and you’ve been thinking about buying tickets for some time. Late last week, you hear that University of Florida coach Billy Donovan is coming to coach the team. So you plunk down $3,600 for two seats for two seats behind the basket. Then, Donovan reverses course. What do you do? You might ask for a refund. The question is, would you get it? You might immediately say “Yes.”
Brocade Communications Systems agreed to pay a $7 million penalty to settle allegations it improperly issued stock-option grants, the Wall Street Journal reported on its Web site on Thursday.
After a recent Supreme Court ruling, this company could be in the clear. That's one more reason to own the stock.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
The company built by the world's richest man takes on the world's largest democracy, and it's a case of cyber culture clash. India-based itVAR News (an IT website) says Microsoft is billing computer retailers in the town of Gujarat thousands of dollars, accusing them of installing pirated Windows software.The retailers have responded with a strike, a boycott and general outrage, though no one appears to be denying the accusations. One Indian retailer put it this way, "Since we are not charging anything extra for installing the software, it means that we are actually not trading in pirated software. For us, this is just a 'sewa' (selfless act) that we are offering to our customers. Besides, the pricing of their operating systems is way too high for Indian markets."
In a speech today at the Federal Reserve Bank of Chicago, Fed Chairman Ben Bernanke detailed the many ways in which financial regulators, including the Federal Reserve and Congress, could act in order to prevent a recurrence of the subprime mortgage crises. Okay, not many ways -- four ways.
I was opening up my packs of Donruss' Score Select and I pulled this card. I was excited about who the player was, but I was really angry when I looked at this signature.I guess about 10 years ago, card companies started inserting signature cards in packs, but I have to tell you over the past couple years, the signatures have gotten worse and worse. I don't blame the card companies. They send these athletes a sheet of stickers to sign and in the end, the athletes just get lazy.
The road is getting much clearer. On Tuesday, a legislative draft will emerge from committee, and head to the floor of the U.S. Senate. It might not get that much notice in itself, but it ought to, because it tells you how much has changed on energy issues. And, given its probable passage (or that of something along those lines), the new legislation will have a big impact on the automobile industry.
As lawmakers on Capitol Hill stand in front of brightly colored placards, touting their 'Save the Subprimer’ proposals (witness Sen. Charles Schumer today), and banks get together with community groups in aggressive campaigns to seek out those in danger of default and save them from ultimate foreclosure (witness EMC's "Mortgage Mod Squad"), I fear something is getting lost. We're not in the thick of the crisis; we're right at the start.
An investor in ABN Amro has filed a class action suit against the bank in an effort to scrap an $88 billion takeover by Barclays and the sale of U.S. unit LaSalle, saying directors failed in their duties.
Dennis Block, co-chair of the corporate M&A practice at Cadwalader, Wickersham & Taft, told CNBC’s “Closing Bell” that activist shareholders are unlikely to break up Citigroup. “It’s a wakeup call,” Block said Friday. “(Citigroup) has a very competent CEO who understands the need to get out there and explain why the business makes sense and how he’s going to grow it and how share price is going to be reflected by his activities.”
ABN Amro Holding has been called to a hearing at the Enterprise Chamber of the Amsterdam Court of Appeal tomorrow in a case brought by the Dutch shareholders' association VEB, which is demanding an investigation into the policy making process at the bank, which is the Netherlands' largest.
World Bank President Paul Wolfowitz will be fighting to keep his job when he addresses questions about his handling of a promotion and pay package for his girlfriend.
The National Chamber of Commerce has named California as the worst state in the nation in terms of legal troubles for business. Apparently, the gold in the Golden State is going to lawyers. The Chamber claims many lawyers are flocking to California as other states tighten up requirements to go after companies in court. The state motto, "Eureka! I've found it!", is one attorneys are taking to heart!
The Securities and Exchange Commission filed charges against two former Apple officers in its stock options backdating case, but questions remain about whether CEO Steve Jobs will emerge unscathed amid new accusations.
Siemens Chief Executive Klaus Kleinfeld will leave the scandal-hit group when his contract expires at the end of September, the company said on Wednesday, deepening its leadership crisis.
Apple's former finance chief said on Tuesday he relied on Chief Executive Steve Jobs in the handling of backdated stock options, putting the spotlight on the company's co-founder inthe scandal.