A ruling that Visa and Mastercard had violated antitrust law has been upheld by the US Supreme Court.
The case stemmed from a 1998 Justice Department lawsuit challenging the credit card issuers’ regulations.
The groups appealed after a court found they were wrong to block banks from issuing credit cards on rival networks such as Discover and American Express
A ruling that Visa and Mastercard had violated antitrust law has been upheld by the US Supreme Court.
The case stemmed from a 1998 Justice Department lawsuit challenging the credit card issuers’ regulations.
The groups appealed after a court found they were wrong to block banks from issuing credit cards on rival networks such as Discover and American Express
The world’s largest insurer by market value is the target of a criminal investigation by the US Justice Department.
American International (AIG) is accused of helping a banking client commit fraud and keep about $762m (£522m) of bad loans off its balance sheet.
AIG says it did nothing wrong while analysts say the firm’s actions fall into a legal grey area
Germany’s biggest bank – Deutsche Bank – is being investigated on suspicion it may have manipulated its balance sheet.
The investigation is in connection to a long-running legal dispute with the now-defunct Kirch media group. Deutsche Bank is alleged not to have set aside provisions to cover damages and compensation that a court ordered it to pay to Kirch
US Airways Group will ask a bankruptcy court on Friday to impose emergency pay cuts of 23 percent on unionized workers if an agreement with the workers is not reached during the day.
In a letter to its unions, the No. 7 U
Shares of Fannie Mae fell again on Friday, capping a three-day slide of more than 13 percent, as investor concerns widened after a government regulator accused top executives of the mortgage giant of mismanagement and serious accounting misdeeds.
Regulators at the Office of Federal Housing Enterprise Oversight who investigated Fannie Mae’s books said the problems they found, at least in a key area of accounting, were more serious, far more complex and wider in scope than previously thought.
The fallout could eventually reach millions of Americans if they have to pay higher rates for new mortgages for home purchases or refinancings, analysts say
A landmark legal complaint against British drug maker GlaxoSmithKline (GSK) over its Aids drug pricing and policies in South Africa will proceed after GSK dropped its public and repeated vows to appeal a decision allowing the case to go forward, according to AidsHealthcare Foundation (AHF).
Instead, GSK simply filed a required legal response to the complaint, AHF said.
The complaint was filed with South Africa’s Competition Tribunal in August by AHF, the US’ largest Aids organisation and several other South African Aids advocates
Nigeria has placed an embargo on government contracts with a subsidiary of US oil services firm Halliburton.
It said it was taking action against Halliburton Energy Services Nigeria (HESN) as a result of negligence in security and safety matters.
In 2002, radiation emitting devices used by the firm to make measurements in oil wells were reported missing in Nigeria’s oil-rich Delta region
Japan’s market watchdog has ordered US banking giant Citigroup to shut down its private banking operations there.
Regulators said they found a list of problems at Citigroup’s private banking arm, from improper trading practices to lax anti-money laundering procedures. The regulator said Citigroup must cease operations at four branches that conduct private banking in Japan
Budget airline Ryanair is obliged to be taken to court under EU law if it fails to pay back illegal state aid for flying to Belgium’s Charleroi airport.
In February, EU competition officials ordered Ryanair to repay several million euros in subsidies to the southern Belgian Walloon region.
Ryanair has appealed the ruling but in the meantime it still has to pay up