NEW YORK (AP) ” Slow down markets, you move too fast. The nation’s newest stock exchange has arrived, one that is looking to slow down high-frequency traders by putting speed bumps in their way.The IEX Group won approval from the…
US won't file fraud suit against Countrywide's Mozilo
LOS ANGELES (AP) ” Federal prosecutors won’t file a fraud lawsuit against former Countrywide Financial chief executive Angelo Mozilo over the sale of billions of dollars’ worth of subprime loans before the mortgage meltdown, his attorney…
Mitsubishi offers cash back to car owners for rigged mileage
TOKYO (AP) ” Mitsubishi Motors is giving 100,000 yen ($960) to each owner of its car as a compensation for inflated mileage and extra gas costs.The Japanese automaker said Friday it will take a 50 billion yen ($913 million) charge…
The Latest: Judge: FedEx 'factually innocent' in drug case
SAN FRANCISCO (AP) ” The Latest on prosecutors’ decision to drop drug trafficking charges against FedEx (all times local):5 p.m.The judge overseeing the criminal trial of FedEx on charges it knowingly shipped illegal prescription…
IMF warns of 'negative and substantial' impact of Brexit
WASHINGTON (AP) ” A U.K. vote to leave the European Union would seriously hurt the British economy and possibly lead to a recession next year, the International Monetary Fund warned Friday.An IMF report estimated that were Britain…
Vegas cab industry disputes audit suggesting $47M overcharge
LAS VEGAS (AP) ” A report commissioned by Nevada taxi companies disputes that the industry was overcharging Las Vegas-area customers by more than $47 million a year.The analysis, completed on behalf of the Livery Operators Association…
Hackers find security gaps in Pentagon websites
WASHINGTON (AP) ” High-tech hackers brought in by the Pentagon to breach Defense Department websites were able to burrow in and find 138 different security gaps, Defense Secretary Ash Carter said Friday.The so-called white-hat hackers…
Eli Devoy, the woman at the heart of $9m mortgage fraud
A woman at the heart of a $9.2 million mortgage fraud has been found guilty and convicted of nearly all of the charges she faced.Eli Devoy, 47, four of her family members and an associate were on trial earlier this year in the…
Revealed: The 10 most scream-inducing business jargon phrases
The corporate world can be an impenetrable place even without the code words that those on the inside abuse with abandon. A new survey of 2,000 business travellers has revealed the 10 most hated items of “management speak”, the…
90-day trial periods do not boost employment, research finds
The controversial trial period allowing workers to be easily sacked within their first 90 days on the job has failed to boost employment, research has found.Treasury-funded research conducted by Motu found no statistically significant…