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  • US charges generic drug firm Glenmark with price-fixing Jul 01, 2020 09:52 AM IST

    US charges generic drug firm Glenmark with price-fixing

    Glenmark allegedly conspired with pharmaceutical maker Apotex Corp and other generic drug companies to increase the prices of cholesterol medication pravastatin and other generic drugs, the department said.

  • US and states' Google antitrust probe nears finish line Jun 26, 2020 06:21 PM IST

    US and states' Google antitrust probe nears finish line

    The department has requested information by the end of June from companies concerned about Google's abuse of its advertising clout, as well as those with data that could be used to support a complaint against Google, the sources said, noting that the deadline could be extended.

  • J&J faces criminal probe related to baby powder: Report Jul 12, 2019 10:33 PM IST

    J&J faces criminal probe related to baby powder: Report

    A grand jury in Washington is looking into documents related to what company officials knew about any carcinogens in their products, according to the Bloomberg report.

  • Volkswagen pleads guilty in US court in diesel emissions scandal Mar 11, 2017 12:04 PM IST

    Volkswagen pleads guilty in US court in diesel emissions scandal

    It was the first time the company has pleaded guilty to criminal conduct in any court in the world, a company spokesman said, and comes as the automaker strives to put the most expensive ever auto industry scandal behind it.

  • Takata to plead guilty, pay $1 bn US penalty over air bag defect Jan 14, 2017 12:39 PM IST

    Takata to plead guilty, pay $1 bn US penalty over air bag defect

    The deal was announced hours after prosecutors in Detroit charged three former senior Takata executives with falsifying test results to conceal the inflator defect, which triggered the world's biggest automotive safety recall.

  • Volkswagen, Justice Dept nearing $3 bn deal to solve diesel case Jan 07, 2017 04:01 PM IST

    Volkswagen, Justice Dept nearing $3 bn deal to solve diesel case

    The agreement is not final and could top USD 4 billion or fall apart but a deal could be announced as early as next week, said the sources on condition of anonymity because the talks are confidential.

  • Volkswagen will pay $1.21 billion to settle US dealer claims Oct 01, 2016 12:25 PM IST

    Volkswagen will pay $1.21 billion to settle US dealer claims

    VW's dealers will receive an average of USD 1.85 million each on average over 18 months under the settlement that was first announced in principle in August.

  • Deutsche Bank may rattle Europe; equity rally unjustified: Pros Sep 28, 2016 09:08 AM IST

    Deutsche Bank may rattle Europe; equity rally unjustified: Pros

    If there is a problem with a bank in a country like Germany then global investors need to worry because banks occupy a special place in the financial system, said Geoff Lewis of Manulife Asset Management.

  • VW, US Justice Dept discuss settling criminal probe: Sources Aug 16, 2016 07:59 AM IST

    VW, US Justice Dept discuss settling criminal probe: Sources

    Reuters reported in June that a criminal settlement could include a consent decree, an independent monitor overseeing the German automaker's conduct and significant yet-to-be determined fines for emissions violations.

  • Car charging station cos issue warning over VW settlement Aug 10, 2016 11:45 AM IST

    Car charging station cos issue warning over VW settlement

    The German automaker agreed to invest the money, which includes USD 1.2 billion nationally and USD 800 million in California, as part of its penalties for equipping hundreds of thousands of its diesel vehicles sold in the United States with software designed to cheat tailpipe emissions tests.

  • US court signs BP's $20 billion oil spill settlement Apr 05, 2016 02:34 PM IST

    US court signs BP's $20 billion oil spill settlement

    A US judge yesterday approved the settlement deal, resolving years of litigation over the worst offshore spill in the nation's history.

  • Apple has 'obligation' to protect users: Tim Cook Mar 22, 2016 07:24 AM IST

    Apple has 'obligation' to protect users: Tim Cook

    Tim Cook was speaking at an Apple product unveiling at the company's headquarters, one day before a court hearing on a hotly contested FBI effort to force the company to help break into the iPhone of a shooter involved in a deadly December attack.

  • US government moves to cancel hearing with Apple Mar 22, 2016 07:20 AM IST

    US government moves to cancel hearing with Apple

    "On Sunday, March 20, 2016, an outside party demonstrated to the FBI a possible method for unlocking (Syed) Farook's iPhone," prosecutors said in a filing yesterday.

  • US subpoenas VW under bank fraud law in emissions probe: Source Mar 09, 2016 07:50 AM IST

    US subpoenas VW under bank fraud law in emissions probe: Source

    VW spokeswoman Jeannine Ginivan declined to comment on talks with regulators, but said the automaker "will continue to cooperate with all relevant government agencies."

  • NY judge: US cannot make Apple provide iPhone data Mar 01, 2016 10:56 AM IST

    NY judge: US cannot make Apple provide iPhone data

    The ruling, by US Magistrate Judge James Orenstein, yesterday applied narrowly to one Brooklyn drug case, but it gives support to the company's position in its fight against a California judge's order that it create specialised software to help the FBI hack into an iPhone linked to the San Bernardino terrorism investigation.

  • Apple likely to invoke free-speech rights in encryption fight Feb 19, 2016 01:51 PM IST

    Apple likely to invoke free-speech rights in encryption fight

    The tech giant and the Obama administration are on track for a major collision over computer security and encryption after a federal magistrate judge in Los Angeles handed down an order on Tuesday requiring Apple to provide specific software and technical assistance to investigators.

  • VW faces $48 bn in fines as US sues for environmental violations Jan 06, 2016 08:26 AM IST

    VW faces $48 bn in fines as US sues for environmental violations

    Although such US lawsuits are typically settled at a fraction of the theoretical maximum penalty, analysts said the size of the claim meant Volkswagen (VW) could face a larger bill than previously anticipated.

  • Volkswagen says 11 mn cars hit by scandal, probes multiply Sep 23, 2015 11:38 AM IST

    Volkswagen says 11 mn cars hit by scandal, probes multiply

    The world's largest automaker said it would set aside 6.5 billion euros (USD 7.3 billion) in its third-quarter accounts to help cover the costs of the biggest scandal in its 78-year-history, blowing a hole in analysts' profit forecasts.

  • Blatter departure date set as FIFA tries again with reforms Jul 21, 2015 08:09 AM IST

    Blatter departure date set as FIFA tries again with reforms

    FIFA President Sepp Blatter announced a reform taskforce to try to leave the troubled body in better shape when he finally stands down after a new leader of world football is elected in February.

  • ‘Not responsible‘ in FIFA corruption Scandal: FIFA Prez May 29, 2015 08:40 AM IST

    ‘Not responsible‘ in FIFA corruption Scandal: FIFA Prez

    FIFA president Sepp Blatter has condemned the "action of individuals" for bringing "shame and humiliation" on football.

  • US appoints Indian-American to key position in Justice Dept Oct 22, 2014 08:45 AM IST

    US appoints Indian-American to key position in Justice Dept

    As NSD's Chief of Staff, Anita M Singh will focus on strategic management issues including the design of structural changes to support work in emerging threat areas, according to a statement from the Justice Department.

  • JPMorgan to pay $614 m to settle mortgage fraud case Feb 05, 2014 08:57 AM IST

    JPMorgan to pay $614 m to settle mortgage fraud case

    JPMorgan, the largest US bank by assets, is admitting in the settlement that for more than a decade it approved thousands of loans that were not eligible for insurance by the Federal Housing Administration or the Department of Veterans Affairs, the department said in a statement.

  • US expands China hiring probe to Morgan Stanley Nov 27, 2013 08:25 AM IST

    US expands China hiring probe to Morgan Stanley

    The move comes as US authorities expand their investigation into whether banks' hiring of politically connected Chinese employees may have breached US bribery laws.

  • JPMorgan's $13 billion deal hits stumbling blocks: Sources Oct 30, 2013 08:58 AM IST

    JPMorgan's $13 billion deal hits stumbling blocks: Sources

    The bank and the government are arguing over whether JPMorgan should be forced to pay for mistakes made by Washington Mutual, the failed mortgage lender it bought during the financial crisis.

  • Infosys may be fined $35 mn for visa related violations Oct 29, 2013 01:22 PM IST

    Infosys may be fined $35 mn for visa related violations

    Infosys itself had said earlier this month that it has set aside USD 35 million for a potential settlement tied to the probe and that it was "engaged in discussions" to resolve the matter.

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