Former Official at New York State Pension Fund, Two Brokers Charged in Bribery Scheme
A former portfolio manager of New York state’s pension fund steered more than $2 billion in business to two brokerage firms in exchange for bribes that included prostitutes, cocaine, concert tickets and a $17,400 Panerai watch, federal prosecutors said Wednesday. “This was an age-old and classic tale of quid-pro-quo corruption,” U.S. Attorney Preet Bharara said at a news conference in Manhattan announcing the indictment....>> view originalIraq Says Kurds, Foreign Companies Agree to Cut Oil Output
Iraq said most international oil companies working in the country, along with the semi-autonomous region of Kurdistan, have agreed to cut crude output to fulfill an OPEC accord.Iraq is fully committed to delivering on OPEC’s Nov. 30 agreement to reduce supplies, Oil Minister Jabbar al-Luaibi said Thursday in Cairo at a meeting of the Organization of Arab Petroleum Exporting Countries, known as OAPEC.“Kurdistan is within Iraq and we are in agreement,” said al-Luaibi. ..>> view originalAlibaba, Labeled 'Notorious,' Faces Growing Pressure Over Fakes
“While recent steps set positive expectations for the future,” it added, “current levels of reported counterfeiting and piracy are unacceptably high.” Alibaba, which maintains that counterfeit goods are an industrywide problem, called the move “counterproductive” and questioned the motives behind the agency’s decision. In a statement from Michael Evans, the president of Alibaba, the company said the decision “leads us to question whether the U.S.T.R. acted based on the actual facts or was influ..>> view originalSecret Unit Helped Brazilian Company Bribe Government Officials
The settlement followed a broad investigation in Brazil into corruption at Petrobras, the state-owned oil company, that plunged the country into political crisis and spurred protests that led to the ouster of President Dilma Rousseff. While not implicated — Ms. Rousseff was convicted by Brazil’s senate in a separate matter — the plunge in popular support paved the way for her impeachment in August. Odebrecht, which built the Miami International Airport and has operations in 27 countries includi..>> view originalRite Aid Misses Street Views, Hurt by Reimbursement Rates, Generic Drugs
Rite Aid Corp.’s earnings fell below estimates in the latest quarter as pharmacy reimbursement-rate pressure and generic drugs dragged the top line to an unexpected decline. Chief Executive John Standley pointed to a “difficult operating environment created by the extended duration” of the merger process with Walgreens Boots Alliance Inc., but highlighted strength in the front-end business and continued growth at its pharmacy...>> view originalBailing out the world's oldest bank could spark a fresh crisis for the eurozone
Wikimedia Commons/Theodore Gericault The world's oldest bank is in the spotlight again. Monte dei Paschi di Siena, the 544-year old Italian bank that has caused countless sleepless nights for investors and politicians alike is on the brink of a government bailout after last minute attempts to rescue it using private money failed. The bank said late on Wednesday it had failed to secure an anchor investor for its offer of new shares. This in turn, dissuaded other in..>> view originalUS|Health Exchange Enrollment Jumps, Even as GOP Pledges Repeal
To lay the political groundwork, Republicans have portrayed the law as collapsing under its own weight, unable to hold down health costs or provide the insurance choices its advocates promised. But the 6.4 million signing up on HealthCare.gov through Monday could undermine the argument that the law is in free fall. The five states with the most people enrolling for coverage on the site through Monday were Florida, with 1.3 million plan selections, Texas (776,000), North Carolina (369,000), Geor..>> view originalTrump Picks 'Death By China' Author For Trade Advisory Role
U.S. President-elect Donald Trump named Peter Navarro, an economist who has urged a hard line on trade with China, to head a newly formed White House National Trade Council, the transition team said on Wednesday. Navarro is an academic and one-time investment adviser who has authored a number of popular books and made a film describing China’s threat to the U.S. economy as well as Beijing’s desire to become the dominant economic and military power in Asia. Trump’s team praised Navarro in a sta..>> view originalTrump meets with Boeing and Lockheed CEOs about government contracts
President-elect Donald Trump met with Boeing CEO Dennis Muilenburg where the two shared a 'open' dialogue,' just weeks after a public flap over the cost of the Air Force One project. (Dec. 21) APPresident-elect Donald Trump(Photo: Ralph Freso)After meetings with the CEOs of Boeing and Lockheed Martin on Wednesday, President-elect Donald Trump said he and the aircraft makers will work to try and reduce costs on major defense projects, including a new Air Force One."We’re just beginning —..>> view original
Friday, January 13, 2017
Former Official at New York State Pension Fund, Two Brokers Charged in Bribery Scheme and other top stories.
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