American Express will pay a total of about $230 million to resolve federal wire fraud investigations, and to settle civil allegations of deceptive marketing, the company said Thursday. The tally includes more than $138 million as part of a non-prosecution agreement with the U.S. Attorney’s Office in Brooklyn, New York, related…
A group of high powered investors want to raise billions to form a new international basketball league, according to people familiar with the matter. The new organization would offer players equity, those people said. The investors aim to raise $5 billion for the league, which could serve as a rival…
Asset management giant Vanguard has been fined more than $100 million to settle charges related to disclosures around target date investment funds, the Securities and Exchange Commission announced Friday. The alleged violations stem from a 2020 change where Vanguard lowered the minimum investment requirement for its institutional target date funds. The SEC…
The Federal Trade Commission said Friday that it is suing PepsiCo for illegal price discrimination, alleging the food and beverage giant gave an unnamed retailer more favorable prices than its competition. Walmart is the unnamed retailer, people familiar with the matter told CNBC. The FTC alleges Pepsi violated the Robinson-Patman Act, which bars sellers from…
The CEO of UnitedHealth Group said Thursday that shortcomings of America’s health care system must be addressed. On the company’s first earnings call since the fatal shooting of UnitedHealth executive Brian Thompson, CEO Andrew Witty said that while the U.S. provides world-leading care in many respects, there are systemic flaws…
The U.S. Food and Drug Administration formally authorized Zyn nicotine pouches for sale after conducting an ‘extensive scientific review’ about their safety. In a release Thursday, the agency said it had found that the popular pouches posed lower risk of cancer and other serious health conditions compared with cigarettes, as…
An outage affecting Capital One customers dragged into its second day Friday, further preventing some customers from accessing deposits, payments and transfers. In an afternoon statement, the bank said it was still restoring systems that had been taken offline due to a technical issue with a third-party vendor. The vendor,…
Pope Francis has fallen over and injured his right arm but did not suffer any broken bones, the Vatican says. In a statement, the Holy See press office said that due to a fall Thursday morning in the Casa Santa Marta, the pope’s residence, the 88-year-old pontiff “suffered a contusion…
A woman in Australia has been charged with poisoning a child and allegedly posting videos of the infant suffering online in order to garner viewers and donations, police said Thursday. The 34-year-old woman from the Sunshine Coast allegedly “administered several unauthorised prescription and pharmacy medicines to a one-year-old girl, who…
From Gaza to Greenland, the disruptive force of President-elect Donald Trump is being felt across the world, his incoming administration casting aside conventional diplomatic niceties in favor of an intensive global pressure campaign that already appears to be yielding results. In the Middle East, Trump quickly took credit for the…