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Wires

  • NEW YORK— Citigroup has agreed to pay nearly $100 million to federal authorities to settle claims that a lack of internal controls and negligence in the bank's Mexican subsidiary may have allowed customers to commit money laundering. The Justice Department announced Monday that Citi's Banamex division will pay $97.44 million for violations of the Bank...

  • WASHINGTON, May 22- The U.S. Commodity Futures Trading Commission said on Monday it had updated its whistleblower rules to strengthen the agency's anti-retaliation protections for whistleblowers and enhance the process for reviewing whistleblower claims. In a statement, it said the changes allow the CFTC or the whistleblower to bring an action against an...

  • WASHINGTON, May 22- The Trump administration and U.S. House of Representatives Republicans on Monday asked a federal court for more time to decide how to proceed on the cost-sharing subsidies paid to health insurers that play a vital role in the Obamacare healthcare law. A lower court had ruled in favor of the lawmakers, saying that Congress must appropriate the...

  • REUTERS SUMMIT-BENDA SAYS CZECH CENTRAL BANK NEEDS TO SLOW "SPIRAL" OF PROPERTY PRICES AND MORTGAGES.

  • REUTERS SUMMIT-CZECH CENTRAL BANKER BENDA SAYS CZECH HOUSING MARKET OVERVALUED.

  • PRAGUE, May 22- The Czech housing market is overvalued and the central bank needs to start slowing a spiral of prices and demand for mortgages, board member Vojtech Benda said in an interview. Czech housing prices have been driven up by record low interest rates, a growing economy and rising incomes, prompting the bank to introduce regulation and seeking more...

  • REUTERS SUMMIT-BENDA: CZECH CENBANK WANTS TO COOL HOUSING MARKET WITH LOAN RATIOS, NOT ANTICYCLICAL CAPITAL BUFFER.

  • Industrialist Henry Ford founded the Ford Motor company in 1903. A titan of industry, Henry Ford was the first to adapt assembly line techniques to the auto industry with the Model T, and for the first time brought car ownership into the realm of possibilities for middle-class Americans. Edsel Ford unexpectedly died in 1943, at the height of World War II, forcing...

  • NEWARK, N.J.— A Ukrainian hacker involved in an international scheme that used stolen unpublished news releases to make about $30 million in profits has been sentenced to more than two years in prison. Federal authorities in New Jersey say the 29- year-old Kiev man was among several people arrested in August 2015 in the U.S. and Ukraine. The Securities and...

  • ABUJA, May 22- Nigeria will increase the interest rate on unpaid taxes to discourage companies and individuals from paying late and racking up a larger debt, the finance ministry said on Monday. Economists have long criticized the low levels of tax in Africa's largest economy and in March the Abuja government laid out plans to increase its overall tax to GDP...

  • SPOKANE, Wash.— Workers this weekend finished installing a protective cover over a partially-collapsed tunnel that contained radioactive waste on the Hanford Nuclear Reservation, the U.S. Department of Energy said Monday. The Energy Department has said no workers were injured and no airborne radiation escaped into the environment as a result of the...

  • DETROIT— The U.S. government is investigating whether Hyundai and Kia moved quickly enough to recall more than 1.6 million cars and SUVs because the engines can stall, increasing the risk of a crash. The National Highway Traffic Safety Administration says it's looking into three recalls by the Korean brands. Hyundai recalled about 470,000 vehicles in...

  • LIMA, May 22- Peru has canceled a $525 million contract with a Peruvian-Argentine consortium to build an airport near the city of Cusco because of financing concerns, the transportation minister said late on Sunday just hours before resigning. The consortium Kuntur Wasi, including Argentina's Corporacion America and Peru's Andino Investment Holding,...

  • The review, posted on Monday on the FDA's website, sent the company's shares up as much as 84 percent to $69.35 from $37.80 before dropping back to $53.75 in afternoon trading. A panel of outside advisers to the FDA will meet on Wednesday to discuss the drug and recommend whether it should be approved. The FDA is not obliged to follow the advice of its advisers but...

  • From the start of its public campaign in January, Elliott said Arconic, the $12 billion company that separated from Alcoa Corp last year, needed new leadership and that its performance had missed targets and lagged peers. Elliott had taken aim at Arconic's former CEO Klaus Kleinfeld directly, questioning his leadership and management skills.

  • CANNES, France— This year's Cannes Film Festival has been a sprawling, international referendum on Netflix, with votes registered in catcalls and applause, and some of the biggest names in cinema staking out their positions. As the world's largest and most prestigious film festival, Cannes has often been a kind of glitzy, French Riviera town hall that measures...

  • HARTFORD, Conn.— A court has overturned a nearly $90,000 award for lawyer fees in an international child custody dispute between a Connecticut financier and a British television host. The Connecticut Appellate Court ruled Monday in the custody case between Peter Rinfret and Melissa Porter. Rinfret is chief executive of Boston- based telecommunications...

  • *US officials allege Russia hackers tried to help Trump campaign. Russia denies this, keen to show it also victim of cyber crime. The criminals- 16 suspects were arrested by Russian law enforcement authorities in November last year- infected more than a million smartphones in Russia, on average compromising 3,500 devices a day, Group-IB said.

  • NEW YORK— Shares of the three major U.S. defense contractors are hitting all-time highs in the first day of trading after President Donald Trump bestowed Saudi Arabia with a $110 billion arms deal. The agreement, which could expand up to $350 billion over 10 years, sent shares of Lockheed Martin Corp., Northrop Grumman Corp. and Raytheon Co. to unprecedented...

  • CHICAGO, May 22- CHS Inc, the biggest U.S. agricultural cooperative, named a new chief executive on Monday, after suffering a sharp decline in income and confirming it was a creditor of a failing Brazilian commodities trader. Minnesota- based CHS picked Jay Debertin to take over immediately for Carl Casale, who had been CEO for six years. Last month, sources said CHS...