A group of traders and web hackers accumulated over $100M by gaining access to corporate press releases on news websites Market Wired, PR Newswire and Business Wire before the news were published. The hackers have been trading the advance stolen news to Wall Street traders for five years, fed authorities caught on Tuesday.
Legal & Regulatory
FCC denies $3.3B subsidy claim of Dish Network
The Federal Communications Commission announced Monday that Dish Network Corp. can't avail the $3.3 billion credit to acquire the airwaves it gained through a government auction.
Things Your Lawyers Won't Reveal To You about Bankruptcy Filing
Bankruptcy has been a part of every business even an individual's life and most of the time is hard to avoid. Generally, seeking the help of a bankruptcy lawyer as one declares bankruptcy would definitely ease the burden.
India High Court favored Nestle over food regulator noodle ban
Nestle finds relief when the Bombay High Court on Thursday lifts the food safety regulator's order of a nationwide ban on the sale Nestle India's famous 2-minute Maggi Noodles.
Zirtual faces lawsuit for abrupt mass layoff
A lawsuit filed against Zirtual by employees who were allegedly terminated by the company without prior notice. The company provides a pool of virtual assistants for busy professionals for a fee. It has its main office in Las Vegas and employed virtual assistants all over the country.
Latest News
Cities such as Columbus (Ohio), San Francisco, Louisville (Ky), Virginia Beach (Va) are registering encouraging growth in wages of over five percent while other cities have only 2.1% growth.
New Yorkers see no problem in paying more for fast food items just so fast food workers can earn more. Last month, the New York State's wage board approved the much controversial $15 per hour minimum wage for fast food workers and such wage increase would mean an increase of 4.3% in fast food prices.
Citibank admitted on Monday that it is under investigation by the Consumer Financial Protection Bureau (CFPB) over its student loan services.
Since 2009, the University of Phoenix has received $488 million from its online programs that are popular to military veterans with GI Bill benefits. The Federal Trade Commission is investigating the University for unfair and deceptive practices involving veteran students.
Minimum wage increase has been a lingering issue in most economies. Part of the battle is determining its effects; however, shortly after Seattle began implementing $15 per hour minimum wage, a new study emerged focusing on increased product prices.
Citigroup's consumer bank has been fined to pay $700milion for its illegal credit card practices. The US Consumer Financial Protection Bureau (CFPB) has observed that Citibank's seven million customer accounts have been charged with misrepresenting costs fees. The consumer finance watchdog has also said that customers were charged for services not rendered to them. CFPB further notes that customers were affected by Citibank's deceptive marketing practices.
Apple and Nike will reportedly settle the claim filed two years ago over a misleading ad about the exact capability of Nike+ FuelBand, offering either $15 cash or $25 gift cards on its stores in the U.S. and Puerto Rico.
U.S. authorities dig deeper into the alleged FIFA financial fiasco, contacting more than half a dozen banks associated to the football corruption scandal.
District 43 assembly member Mike Gatto and Sen. Ted Gaines wrote Senate Bill 167 and 168 intended to penalize drone operators for flying near the wildfire site in Sacramento, California.
