The news follows a tumultuous week in which WeWork postponed its IPO roadshow and new revelations were published about Neumann's behavior.Technologyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Cybersecurityread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
A 58% majority of registered voters express unease about voting for Trump, but slightly more say the same about Joe Biden and Bernie Sanders, while Elizabeth Warren fares only...Politicsread more
A temporary airspace closure forced flights coming into Dubai from Australia, Singapore and India to be diverted to nearby airports.Airlinesread more
Schiff had previously shied away from calling for impeachment, but his comments on CNN's "State of the Union" indicate his stance has shifted.Politicsread more
General Electric agreed to pay the Department of Justice a $1.5 billion penalty for alleged accounting misrepresentations stemming from the company's now defunct subprime mortgage business WMC.
GE shares slid lower by 0.6% in midday trading, as the settlement amount was largely expected. The company announced the settlement in principle during the company's fourth quarter earnings report in January and had set aside $1.5 billion in reserves last year.
The Justice Department alleged that GE, through WMC, misrepresented the quality of its subprime loans.
"The financial system counts on originators, which are in the best position to know the true condition of their mortgage loans, to make accurate and complete representations about their products. The failure to disclose material deficiencies in those loans contributed to the financial crisis," Justice Department Assistant Attorney General Jody Hunt said in a statement.
The potential violations were investigated under the the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). The law allows federal authorities to pursue civil penalties of violations made by federally insured financial institutions.
The final agreement was reached on Friday.
"This settlement contains no admission of any allegations and concludes the FIRREA investigation of WMC," a GE spokesperson said in a statement to CNBC. "This is another step in our ongoing efforts to de-risk GE Capital. This agreement represents a significant part of the total legacy exposure associated with WMC and we are pleased to put this matter behind us."