Government
Judge Approves $115 Million AIG Shareholder Settlement
A federal judge on Wednesday approved a $115 million settlement between American International Group Inc. shareholders and former CEO Maurice "Hank" Greenberg and other defendants over alleged ...
UK Watchdog Tells Financial Product Sellers: No More ‘Buyer Beware’ Defense
Britain's new watchdog announced sweeping changes in financial regulation on Wednesday, telling banks they can no longer blame customers when products go wrong and promising to study how consumers ...Jury Finds Exxon Liable For $236.4M In MTBE Suit
A New Hampshire jury on Tuesday found Exxon Mobil Corp liable for $236.4 million in a civil lawsuit that charged the oil company had polluted groundwater in the state with a gasoline additive used to ...
New York Fund Closure Could Leave Workers’ Comp Insurers Short on Reserves
Possible changes to a New York special fund could leave workers' compensation insurers under-reserved, an industry executive has warned. The concern involves an unusual feature of the Empire State's ...
NFL, Ex-Players Prep For Court Battle Over Concussions
With perhaps billions of dollars at stake, a hearing Tuesday over concussion litigation filed against the NFL promises to be a brawl between legal heavyweights. About 4,200 former players have sued ...
Stress Tests Make U.S. Financial System Stronger: Bernanke
Federal Reserve Chairman Ben Bernanke said on Monday the central bank's periodic bank stress tests have made the U.S. financial system more resilient. Contrasting the current state of U.S. banks to ...Bond Insurer Ambac Moves Toward Bankruptcy Exit with IRS Settlement
Ambac Financial Group Inc. on Monday said it has reached a $101.9 million settlement of a dispute with the Internal Revenue Service, a key step in the bond insurer's effort to emerge from bankruptcy. ...
Targeting China IT In Cyber Security Law Is Discriminatory, U.S. Biz Group Says
The U.S.-China Business Council on Monday criticized a new U.S. law aimed at thwarting cyber attacks by discouraging the Justice Department and several other government agencies from buying ...