California, US-based tech giant Apple Inc signed an agreement with the Federal Trade Commission (FTC) to pay out at least $32.5 million as refund for the parents of kids who racked up big in-app charges without explicit consent.
Legal & Regulatory
US regulators order Rabobank to address issues with anti-money laundering programs
The Office of the Comptroller of the Currency ordered Rabobank in December to straighten out the issues plaguing its anti-money laundering programs in an order made public recently, Reuters reported.
Financial wrongdoing target for New York Attorney General
The Criminal Prosecutions Bureau has been expanded by New York Attorney General Eric Schneiderman to the Criminal Enforcement and Financial Crimes Bureau to focus on financial wrongdoing, Bloomberg reported.
Neiman Marcus Department store chain given two weeks to answer to data breach
Dallas-based Neiman Marcus Group Ltd was given two weeks by Florida Attorney General Pam Bondi to answer questions about the cyber breach that happened during the holiday rush, Bloomberg reported.
Microsoft files patent for performance-based pricing for cloud service -report
Software giant Microsoft applied for a patent for a system that allows customers to set the rate based on the performance level of its cloud service, according to InformationWeek.
Latest News
Gentium investors sued the company's board and Jazz Pharmaceuticals in an attempt to stop the acquisition of Gentium, claiming that the tender offer was flawed, Bloomberg reported.
The Government Accountability Office said the spinoff of SAIC Inc invalidated the health services contract awarded to it by the National Aeronautics Space Administration, Bloomberg reported.
In a move that will pave the way for the creation of more jobs and encourage more investment in the UK, Prime Minister David Cameron will be giving councils that allow shale gas developments to continue, Bloomberg reported.
The Chinese Securities Regulatory Commission will be supervising companies scheduled to hold their IPOs more strictly as it plans to hold spot checks for investor roadshows, Bloomberg reported.
While other governments have not provided regulations about the digital currency, Singapore has issued regulations about how merchants can manage Bitcoin taxation and related transactions.
Target Corp said the cyber breach of its payment cards during the holiday shopping season was more extensive than what it had initially believed, Reuters reported.
New York-based BlackRock Inc said civil proceedings were started by Italy's securities regulator against Nigel Bolton, one of its money managers, over the trade of Saipem's shares last year, Bloomberg reported.
Gary Newsome, a former CEO of Health Management Associates Inc, was named a defendant of a whistleblower lawsuit alleging kickbacks at the company, Bloomberg reported.
Judge Kevin Gross of the US Bankruptcy Court in Wilmington, Delaware on Friday rejected a planned sale of Fisker Automotive to Hong Kong businessman Richard Li. Gross ruled in favor a competitive bidding between Li and Chinese auto parts maker Wanxiang Group instead.
