Samsung leader named a suspect in South Korea political probe
SEOUL A South Korean special prosecutor's office will question Samsung Group [SAGR.UL] leader Jay Y. Lee as a suspect in the widening influence-peddling scandal that led to a parliamentary vote to impeach President Park Geun-hye.Prosecutors have been looking into whether Samsung payments of about 30 billion won ($25 million) for a business and foundations backed by Park's friend, Choi Soon-sil, were connected to a 2015 decision by the national pension service to back a controversial merger of ..>> view originalUS charges three traders in forex rigging probe
By Nate Raymond | NEW YORK NEW YORK The U.S. Justice Department on Tuesday brought charges against three former traders at JPMorgan Chase & Co, Citigroup Inc and Barclays Plc arising from a global probe into the manipulation of foreign exchange rates at major banks.Richard Usher, formerly of JPMorgan, Rohan Ramchandani, formerly of Citigroup, and Christopher Ashton, formerly of Barclays, were charged with conspiring to restrain trade in an indictment filed at a federal court in Manhattan. Th..>> view originalMassachusetts weighs doing away with winter time shift
By Associated Press January 11 at 12:16 AM BOSTON — Massachusetts residents wouldn’t have to reset their clocks during the darkest months of the year under an idea being studied on Beacon Hill. On Wednesday, an 11-member commission will begin weighing the economic and health impacts of the state remaining on Eastern Daylight Time year-round. Massachusetts stays on Eastern Daylight Time much of the year, but shifts to Eastern Standard Time on the first Sunday in November by setting clocks bac..>> view originalWalmart Cutting Hundreds of Jobs In Latest Round of Layoffs
Walmart (wmt) is about to eliminate hundreds more jobs at headquarters and in regional offices in its latest move cut down on costs and protect its profits.The discount retailing giant will cut most those of jobs before January 31, the end of its current fiscal year, according to the Wall Street Journal, which first reported the news on Tuesday, citing unnamed people familiar with the situation. A good chunk of the job cuts will be in Walmart's human resource department at headquarters and in re..>> view originalDonald Trump and Alibaba founder to create '1 million' US jobs? Unlikely.
BEIJING — Jack Ma, the billionaire founder of Chinese e-commerce giant Alibaba, strolled into Trump Tower on Monday to talk to Donald Trump about a plan to create 1 million U.S. jobs — at least that’s how they sold it. Trump’s incoming press secretary said the tycoons would discuss “how Alibaba can create 1 million U.S. jobs by enabling 1 million U.S. small businesses to sell goods into the China and the Asian marketplace.” For its part, the company pitched it as a certainty: “Alibaba,” it sai..>> view originalBanks forced to cover tracks of China's forex regulator
"It's not good for client relationships," he added, explaining that he had told his clients to go to other banks. Ping An did not return requests for comment. Penalty threat In a verbal order to at least two lenders, SAFE said it would vet all cross-border money transfers worth $5 million or more, down from $50 million, banking sources told Reuters in late November. They also told the banks to interview clients to make sure the forex deals were not for fake transactions, or else ..>> view originalAsia shares recover losses, markets await Trump news conference
TOKYO Asian shares rose to two-month highs on Wednesday as investors looked to President-elect Donald Trump's news conference later in the day for clues on his policies on taxes, fiscal spending, international trade and currencies.While Trump's election campaign calls for tax cuts and more infrastructure spending have boosted U.S. shares and the dollar, his protectionist statements and a flurry of off-the-cuff Tweets have kept many investors on edge.European shares are expected to open slightl..>> view originalTillerson's Exxon-Ethics Plan Has a $72 Million Tax Advantage
The exit package Exxon Mobil Corp. has agreed to pay Rex Tillerson if he’s confirmed as secretary of state is structured to preserve roughly $180 million in deferred compensation for him -- and might let him avoid an immediate federal income tax bill of as much as $72 million, according to tax specialists who have reviewed the plan.The arrangement was designed to sever Tillerson’s ties to the global oil company he led since 2006 and allow him to comply with federal ethics law. Under the plan, E..>> view originalGeorge Lucas Chooses Los Angeles As Home For His Art Museum
George Lucas, pictured here in 2014, has announced that his museum will be built in Los Angeles. San Francisco had also been in the running. Wong Maye-E/AP hide caption toggle caption Wong Maye-E/AP George Lucas, pictured here in 2014, has announced that his museum will be built in Los Angeles. San Francisco had also been in ..>> view originalTrump should fire CFPB Director Richard Cordray: GOP
The leader of Elizabeth Warren’s consumer watchdog is in the hot seat. One of President-elect Donald Trump’s first acts in the White House should be firing Consumer Financial Protection Bureau Director Richard Cordray, a pair of Republican Senators argued in a letter on Monday night. The lawmakers believe the CFPB, which has taken on big banks like Wells Fargo as well as shady payday lenders, has become too powerful since its 2011 inception. “It’s time to fire King Richard,” Senator Ben Sas..>> view original
Wednesday, March 8, 2017
Samsung leader named a suspect in South Korea political probe and other top stories.
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