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  • Is Alibaba's Jack Ma buying AC Milan?

    The regulator has asked about the unaudited numbers Alibaba publishes on its sales of the shopping bonanza, the FT reports.

  • Sundar Pichai, CEO of Google

    A jury has ruled in favor of Google on fair use in a software copyright trial with Oracle.

  • BISMARCK, ND, May 26- Donald Trump, the presumptive Republican presidential nominee, said on Thursday that he would pull the United States out of the U.N. global climate accord and slash environmental regulations on the energy industry if elected. The comments deepen the contrast between the New York billionaire and his Democratic rivals for the White House,...

  • May 26- The first-ever implant to fight addiction to opioids, a class of drugs that includes prescription painkillers and heroin, was approved by the U.S. Food and Drug Administration on Thursday. The matchstick-sized implant, developed by Titan Pharmaceuticals Inc and privately owned Braeburn Pharmaceuticals, is by design less susceptible to abuse or the...

  • May 26- The Consumer Financial Protection Bureau fined former Wells Fargo& Co employee David Eghbali $85,000 and banned him from working in the mortgage industry for a year for an illegal mortgage fee-shifting scheme. The CFPB said from at least November 2013 to February 2015 Eghbali had an arrangement with New Millennium Escrow Inc that allowed him to...

  • May 26- Messaging app Snapchat has raised $1.81 billion in funding, the company reported in a U.S. regulatory filing on Thursday, a sign that investor interest is strong despite concerns among some venture capitalists that the platform is struggling to attract advertisers. Venture capital database PitchBook estimated the company's valuation after the...

  • Nasser also told Reuters that the state-owned group was pressing on with preparations for its partial privatization via a stock market listing, which he said lay at the heart of Riyadh's "Vision 2030," a long-term economic plan headed by Deputy Crown Prince Mohammed bin Salman. Riyadh has been the driving force behind OPEC's decision in November 2014 to refuse...

  • HONG KONG, May 26- A plan by China's richest man, Wang Jianlin, to take his Hong Kong- listed commercial property unit private is being held up by questions from the city's market regulator, according to company insiders, delaying an announcement on the offer. Wang is planning to delist the Hong Kong real estate vehicle and then relist it in Shanghai, hoping to benefit...

  • Gov. Greg Abbott, R-Texas

    The state is the first to sue the Obama administration over federal guidance for transgender students in public schools.

  • The SEC focused on the accounting for logistics firm Cainiao Network, which Alibaba owns with several courier companies in China, as well as operating data from its Singles' Day, an annual sale that accounts for more than the combined sales of the Black Friday and Cyber Monday shopping events in the United States, according to Alibaba's annual report filed on...

  • The legislation, which covers funding for the Securities and Exchange Commission, the Treasury Department, the judiciary branch and others, passed the House of Representatives Financial Services Subcommittee and now goes to the full Appropriations Committee. "We cut funding for nearly two dozen agencies that can operate with a little less," said Republican...

  • May 25- Shareholders of Exxon Mobil Corp and Chevron Corp, two of the world's largest oil producers, voted on Wednesday on a raft of proposals designed to push the companies to respond more proactively to climate change risks and regulations. RESOLUTION 5: ADD CLIMATE EXPERT TO BOARD The resolution's sponsor, a group of Wisconsin monks, says that by adding a...

  • NEW YORK, May 25- A tie-up of Aetna Inc and Humana Inc would be anti-competitive in Missouri for several types of insurance, including individual Medicare Advantage plans where the combined company would have more than a 50 percent market share, the Missouri Department of Insurance said. The department said in an order, dated May 24 and posted on its website, that...

  • BRUSSELS/ DUBLIN, May 25- Data transfers to the United States by companies such as Facebook and Google face a renewed legal threat after the Irish privacy watchdog said on Wednesday it would refer Facebook's data transfer mechanisms to the top EU court. The move follows an Irish investigation into Facebook's transfer of European Union users' data to the United...

  • Greenberg: Alibaba's accounting doesn't make sense

    Herb Greenberg, Partner at Pacific Square Research, discusses the SEC's investigation into Alibaba. There are issues with the company's transparency, says Greenberg.

  • WASHINGTON, May 25- The U.S. Comptroller of the Currency fined Wells Fargo Bank $70 million on Wednesday over mortgage servicing but said it was ending business restrictions it had placed on the bank. According to the regulator, Wells Fargo made escrow calculation errors between March 2013 and October 2014 that in some cases led to incorrect loan modification...

  • BRUSSELS/ DUBLIN, May 25- Data transfers to the United States by companies such as Facebook and Google face a renewed legal threat after the Irish privacy watchdog said on Wednesday it would refer Facebook's data transfer mechanisms to the top EU court. The move follows an Irish investigation into Facebook's transfer of European Union users' data to the United...

  • BATON ROUGE, La.— The Justice Department is urging a federal court to let government regulators decide if a New Orleans company has done enough to end an oil leak in the Gulf of Mexico that began nearly 12 years ago and could last another century. Taylor Energy Company sued the federal government in January to recover more than $400 million it set aside for work to...

  • Drugmaker Sarepta Therapeutics Inc. said the Food and Drug Administration will miss its goal of issuing a decision on the drug by Thursday. While the FDA does not comment on such delays, the extended timeline raises the possibility that regulators may ultimately approve the company's medication. The Cambridge, Massachusetts- based company said FDA...

  • WASHINGTON— Chinese e-commerce giant Alibaba wowed investors when it went public in the U.S. in September 2014, and its profits have bucked Wall Street expectations amid the Chinese economy's slowdown. Alibaba disclosed in a regulatory filing that the Securities and Exchange Commission has requested documents and information related to the way it adds...