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News Summary: IMF head in court in fraud probe
BLAST FROM PAST: International Monetary Fund chief Christine Lagarde faced questions at a special Paris court Thursday over her role in the 400 million euro ($520 million) pay-off to a businessman when she was France's finance minister. THE BACKGROUND: The payment was made to entrepreneur Bernard Tapie as part of ...
Oil tracks gains in stocks, erases early losses
An afternoon recovery in U.S. stock markets helped oil reverse early losses Thursday. Benchmark oil for July delivery fell 3 cents to close at $94.25 a barrel on the New York Mercantile Exchange. The price sank as low as $92.21 in the morning after weak manufacturing data from China raised ...
Shareholder adviser firm paying $300,000 fine
A prominent firm in the business of advising big shareholders on how to vote in elections for company directors is paying a $300,000 fine to settle federal civil charges of failing to protect clients' confidential voting information. Institutional Shareholder Services agreed to the penalty in a settlement announced Thursday with ...
Ex-bookkeeper admits theft, sentenced to 30 months
A former bookkeeper for a Baton Rouge firm has been sentenced to 30 months in federal prison after admitting she stole over $217,000 from her employer and an insurance company. The Advocate reports (http://bit.ly/14zGRXc ) 49-year-old Cynthia D. Windham pleaded guilty Wednesday to one count of bank fraud after telling ...
Top 50 highest-paid CEOs
A look at the 50 highest-paid CEOs of 2012, as calculated by executive pay research firm Equilar. 1. Leslie Moonves, CBS, $60.3 million, down 12 percent 2. David Zaslav, Discovery Communications, $49.9 million, down 5 percent 3. Bob Iger, Disney, $37.1 million, up 18 percent 4. Philippe Dauman, Viacom, $33.4 ...
Stock slump continues on Wall Street
A global stock market slump is continuing on Wall Street as traders worry about how committed the Federal Reserve remains to keeping up its bond-buying program. The Dow Jones industrial average fell 112 points to 15,191 in early trading Thursday, or 0.7 percent. The Standard & Poor's 500 fell 16 ...
Applications for US unemployment aid fall to 340K
The number of Americans applying for unemployment benefits fell 23,000 last week to a seasonally adjusted 340,000, a level consistent with solid job growth. The less volatile four-week average ticked down just 500 to 339,500, the Labor Department said Thursday. That's close to the five-year low of 338,000 reached during ...
Oil down to near $93 on Chinese recovery concerns
The price of oil fell to near $93 a barrel on Thursday after a survey showed manufacturing activity in China falling to its lowest level in seven months, a sign that the recovery in the world's No. 2 economy is fading. By early afternoon in Europe, benchmark oil for July ...
Jury deliberations continue in Va bank fraud trial
Jury deliberations are continuing in the trial of four former Bank of the Commonwealth executives and a developer accused of conspiring to defraud the bank out of $71 million. Media outlets report that the federal jury in Norfolk failed to reach a verdict Wednesday following three full days of deliberations. ...
Japan gyrations underline economy's vulnerability
Japan's financial markets gyrated wildly Thursday, underscoring the vulnerability of its economy to a loss of investor confidence as Prime Minister Shinzo Abe attempts shock monetary easing to end two decades of stagnation. Interest rates, or yields, on 10-year Japanese government bonds briefly topped 1 percent for the first time ...
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