A U.S. housing regulator has been investigating the activities of a small California not-for-profit that bought hundreds of foreclosed homes through a federally backed program intended to help local communities hurt by the housing bust, according to government documents reviewed by Reuters.
Legal & Regulatory
Split of Time Warner Cable Inc may consolidate industry, circumvent regulatory challenges- report
A joint bid that would later split up Time Warner Cable between Comcast Corp and Charter Communications Inc may allow the deal to avoid strict scrutiny from antitrust regulators and the Federal Communications Commission.
American Airlines faces another hurdle in merger battle
American Airlines Inc was slapped with another lawsuit claiming its merger with US Airways Inc would break antitrust laws, putting another roadblock on its exit from bankruptcy.
Mining revenue may comprise portion of Sovereign Wealth Fund of Zimbabwe- report
Citing a draft of the fund, a report from Bloomberg said the planned Sovereign Wealth of Zimbabwe may obtain a portion of the country's share of mining revenues.
Thai govt's collateral-free loan scheme may not combat loan sharks-report
The new collateral-free microfinance program set to be implemented next year by the Finance Ministry of Thailand to fight illegal loan sharks may not gain wide acceptance due to its high interest rate, according to a report on The Nation.
Latest News
The federal government is optimistic that it can get enough people to purchase health insurance. It is also testing an option whereby consumers can directly purchase insurance aside from going to the state websites since it is still malfunctioning.
Daric, a new peer to peer lending platform will go live on Nov 27th, 2013 barring any unforseen regulatory issues. The platform differentiates itself by focusing on user experience and less hassle without borrowers needing to upload any files in the application side.
The shutdown of Russian bank Master Bank was the central bank's most high-profile move yet under the leadership of Russia's first female governor Elvira Nabiullina.
TransUnion securing the approval from the US Bankruptcy Court for the Southern District of Florida to acquire TLO LLC would mark the end of the court-supervised acquisition.
Although accounting regulator the Public Company Accounting Oversight Board (PCAOB) said Deloitte Touche Tohmatsu Limited failed to correct its irregularities in its audit work seen in 2009, it lauded the accounting firm for making efforts to rectify irregularities found by the board during its review in 2010 and 2011.
Drayton McLane Jr, Comcast and NBC Universal said that Jim Crane's claim that they cheated him out of the acquisition deal of US professional baseball team the Houston Astros was ludicrous.
Kareem Serageldin, a former banker of Credit Suisse, was sentenced to 30 months in prison for his role in the scheme that inflated the prices of subprime mortgage bonds artificially at a time when housing and credit conditions were taking a turn for the worse.
Tesla CEO Elon Musk is confident that the Model S vehicle would soon be cleared and deemed safe by federal investigators. He isn't expecting a recall and said Tesla engineers are not currently working on any fixes for the vehicles and has instead amended its warranty to cover fire loss in crashes.
AT&T, Verizon Communications, and even tech companies like Google, Microsoft and Yahoo had been pushing for the US government to allow them to publish surveillance orders to appease shareholders in light of the revelations by NSA whistleblower Edward Snowden.
