HSBC (HSBA.L) reported a 17 percent fall in annual pretax profit and cut its profitability target, saying allegations its Swiss business had helped customers to dodge taxes had brought shame on the bank.
Legal & Regulatory
Iran would sell more oil if Western sanctions lifted: Mehr agency
Iran said oil prices would not rise above $60 a barrel until 2016 and that it would increase crude exports if Western sanctions over its nuclear program were lifted, the semi-official Mehr news agency reported on Friday.
Apple exploring settlement with electric car battery maker
Apple Inc (AAPL.O) is discussing a settlement in a lawsuit brought by electric car battery maker A123 Systems, which accused the iPhone maker of poaching top engineers to build a large-scale battery division.
SEC warns pharma companies to be honest about FDA correspondence
The U.S. Securities and Exchange Commission's top enforcement chief warned on Tuesday that too many pharmaceutical companies are failing to accurately portray their dealings with federal drug regulators - a problem that could get them in trouble.
Obama struggles with Wall Street to woo Democrats over broker rules
The Obama administration is battling Wall Street to win the support of dozens of Democrat lawmakers over rules that could rein in brokers who handle trillions of dollars in retirement accounts.
Latest News
The largest U.S. refinery strike in 35 years entered its fourth week on Sunday as workers at 12 refineries accounting for one-fifth of national production capacity were walking picket lines.
Union members ratified an agreement on Sunday that ends a four-month-long strike by some 1,800 workers at FairPoint Communications, a major land-line telecommunications provider in northern New England, union officials announced.
Canadian National Railway Co (CNR.TO) on Saturday again urged Unifor, the union representing 4,800 of its mechanical, clerical and intermodal staff, to agree to binding arbitration and renewed its threat to lock out those workers on Monday.
U.S. West Coast ports will resume full operations from Saturday evening after a tentative labor deal was reached between a dockworkers union and a group of shippers, easing months of disruptions to trans-Pacific trade that have hit businesses from automakers to meat exports.
The U.S. refinery strike widened as workers at the nation's largest refinery walked off their jobs at 12 a.m. CST (0600 GMT) on Saturday, according to the United Steelworkers union (USW).
China has agreed to lift its ban on Irish beef, Ireland's Prime Minister Enda Kenny said on Friday, making it the only European country to be allowed to export beef to both the United States and China.
General Motors Co was caught by surprise on Friday by a strike at its Brazilian car factory as workers protested a planned furlough and layoff of hundreds of staff, in the latest labor disruption in the nation's slumping auto industry.
A group of shipping companies and a powerful dockworkers union clinched a tentative labor deal on Friday after nine months of negotiations, settling a dispute that disrupted the flow of cargo through 29 U.S. West Coast ports and snarled trans-Pacific maritime trade with Asia.
Lead U.S. oil company negotiator Shell Oil Co said face-to-face negotiations on Friday with the United Steelworkers union (USW) failed to yield an agreement to end the 20-day-old U.S. refinery strike.
