Business News for Friday May 6, 2011

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Swiss bank UBS admits rigging bids for U.S. municipal bonds (AHN) Vittorio Hernandez - AHN News Washington, D.C., United States (AHN) - Swiss bank UBS admitted rigging bids for at least 100 U.S. municipal bond transactions covering 36 states, Washington said Wednesday. UBS has agreed to pay the U.S. government a fine and restitution in the amount $160 million. The bank pointed to former employees as behind the rigging of bids from 2001 to 2006 in the municipal bond derivatives market, used by American towns to borrow money to finance ... Continue Reading... Post a Comment | Share GM reports $3.37 billion net income for Q1 (AHN) Vittorio Hernandez - AHN News Detroit, MI, United States (AHN) - General Motors reported a $3.37 billion net income for the first quarter of 2011 on Thursday. It was a 15 percent increase compared to the previous year. The profit translates into 95 cents per share, better than analysts' forecast of 91 cents. Despite the strong performance of the American car maker, investors were disappointed because of increased spending on sales incentives, marketing and ... Continue Reading... Post a Comment | Share Sony confirms theft of personal info of 77 million users (AHN) Vittorio Hernandez - AHN News Washington, D.C., United States (AHN) - Sony Corporation confirmed to a U.S. congressional panel the theft of the personal information of 77 million users of its online services. In a written answer dated May 3 to the question from the House of Representatives' Energy and Commerce Committee, Sony admitted the breach by criminal intruders affected all 77 million personal information of the company's PlayStation Network and Qriocity service ... Continue Reading... Post a Comment | Share Advertisement FREE Presentation: Weird Tips and Tricks for a Lean Body and Flat Tummy! Dice, Chop & Mince in Seconds - Quick Chop Bank of England, European Central Bank keep interest rates (AHN) Vittorio Hernandez - AHN News London, England, United Kingdom (AHN) - The Bank of England and the European Central Bank kept interest rates at current levels on Thursday. The Bank of England's Monetary Policy Committee retained the historic-low key lending rate of 0.5 percent for the 27th consecutive month. On the same day, the Markit/CIPS headline services PMI index for the services sector went down to 54.3 in April from 57.1 in March. The weak PMIs on services ... Continue Reading... Post a Comment | Share     More Headlines • 4.5 percent April inflation rate prompts Philippine Central Bank to hike lending rate by 25 basis points • Unilever China fined $308,000 • Groupon enters China market • Survey says: $368 a month for gas • Grants fund sustainable food systems study     More News From ArcaMax Current News Entertainment News Business News Sports Political News Weird News Religious News Lifestyles

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