JP Morgan 'Prevented' Regulatory Probe over Madoff Ponzi Scheme
Government official tells Reuters bank blocked OIG's probe over bank's relationship with Bernard Madoff.
More Swiss Banks Fall in With DoJ Scheme to Expose US Tax Evaders
More Swiss banks are agreeing to cooperative with US authorities in the face of prosecution for hiding taxable assets from the IRS.
BP Inks Deal with Oman to Develop $16bn Khazzan Gas Project
Project is expected to produce 1 billion cubic feet of gas and 25,000 barrels of gas condensate per day at peak levels.
GlaxoSmithKline to Increase Stake in Indian Unit With $1bn Open Offer
Move indicates that GSK is more reliant on high-growth emerging markets than traditional western markets.
UK House Prices Could Soar Up To 8% Without Fresh Supply
Rightmove says housing sector recovery in country gaining momentum.
IBM Sued Over China Sales Decline Due to NSA 'Connection'
Whistleblower Edward Snowden revealed IBM 'cooperating' with NSA in surveillance programmes.
Bank of England Says UK Housing Market Like a 'Microwave'
BoE chief economist Spencer Dale says property market could turn from 'lukewarm to scalding hot'.
Biggest Class Action Suit against Visa and MasterCard Settled
New York judge approves $5.7bn settlement over credit card fees.
Russia's Central Bank Revokes Three More Banking Licences in Regulatory Crackdown
Almost 30 Russian banks have lost their licences in 2013 under central bank chief Elvira Nabiullina's regime.
Elite US Universities Record Budget Deficits Amid Federal Cuts
Bloomberg reports that half of Ivy League institutions recorded budget deficits in fiscal 2013.
Bitcoin Wallet Start-Up Gets Record $25m Funding
San Francisco-based Coinbase received $25m funding from investors led by led Andreessen Horowitz.
EBA Warns Bitcoin and Other Virtual Currencies Are Risky
Regulatory agency of European Union warns consumers could lose money.
Hilton Worldwide Raises Record $2.34bn In Stock Market Return
Hilton was taken private in 2007 by Blackstone in leveraged deal worth about $26.7bn.
China to Liberalise M&A Rules to Consolidate Industries With Overcapacity
Shanghai Securities News reports China will liberalise M&A regulations and promote usage of preferred shares and M&A funds.
JP Morgan Faces $2bn Penalty and Criminal Action Over Madoff Connection
Federal authorities nearing settlements over JPMorgan's involvement in Madoff case.
Toyota: Australian PM Abbott to Press Japanese Automaker to Stay on
Move follows GM subsidiary Holden's decision to exit Australia in 2017.
GM to Stop Manufacturing in Australia Due to Soaring Costs
Appreciation of Australian dollar has prompted many car manufacturers to exit country.
GM Appoints Mary Barra as First Female Boss of Car Industry
Barra has been in charge of design, engineering and quality for all GM vehicles.
US to Avert January Shutdown as Bi-Partisan Committee Reaches Deal on Budget
The US government was due to run out of cash on 15 January.
JP Morgan to Patent Bitcoin-Like 'Virtual Cash'
Bank's planned "virtual cash" would allow users to make payments anonymously just like Bitcoin.
Mexico to End 75-Year State Monopoly in Oil Sector to Compensate Production Shortfall
Mexico would pass bill that would allow output sharing and licenses for outside oil producers.
US Taxpayers Lose $500m on Idled Transport Planes in Afghanistan
Sixteen broken-down G222 turboprop aircraft worth $486m languishing at Kabul airport.
Madoff Spied on SEC Investigators Says Star Witness
Star witness Frank DiPascali told court that his former boss sneaked into briefcase of one of SEC investigators.
UK Home Price Growth Projections Rise to 14-Year High as Demand Outpaces Supply
In Rics survey, 59% more surveyors expect house prices to rise further.
EADS Plans up to 6,000 Job Cuts and Paris HQ Sale in Restructuring
EADS is planning to cut between 5,000 and 6,000 jobs as part of restructuring.
China Likely to Face First Corporate Bond Default Amid Tight Credit Conditions
Chinese firms are due to repay record 2.6tn yuan of bonds in 2014.
China to Liberalise Interest Rates by Allowing Inter-Bank Certificates of Deposits
Certificate of deposits are savings instruments entitling bearer to receive interest.
China Inflation Unexpectedly Slows Down on Lower Food Prices
CPI inflation declines to 3.0% in November, compared to analysts' expectations of 3.2%.
Twitter Adds Security Layer to Block Snooping after Edward Snowden Revelations
Twitter enables 'perfect forward secrecy' following similar steps by Google and Facebook.
US Aircraft Remanufacturer Nextant Presents $5m Business Jet at Dubai Airshow
Nextant 400XTi dubbed world's first 're-manufactured' business jet.
