New charges for ex-pharmaceutical executive Martin Shkreli
NEW YORK -- Federal prosecutors in New York have filed additional criminal charges against a pharmaceutical executive who was heavily criticized for raising the price of a lifesaving medication.A new indictment filed Friday in Brooklyn says Martin Shkreli and his former attorney Evan Greebel schemed to defrauded potential investors of his former drug company Retrophin Inc., based in San Diego. They say the two allocated company stock to seven employees to conceal Shkreli's ownership of it.Shkre..>> view originalTony Fadell Defends His Record and Methods
Tony Fadell brought the iPod to life at Apple Inc., ushered in the iPhone, started Nest Labs in 2010 to modernize home gadgets and sold to Google for $3.2 billion in 2014. Then he spent the last two years shaping Google’s vision of the connected future and pushing its wares deeper into consumers’ lives.After such a meteoric rise, Fadell’s exit from the internet giant was unceremonious. Google parent Alphabet Inc. released a short statement Friday afternoon saying he will step down immediately a..>> view originalWeak Hiring Pushes Back Fed's Plans
The U.S. job market notched its weakest monthly gain in more than five years, knocking down expectations for a Federal Reserve rate increase and stirring worries about the seven-year-old economic expansion. Employers added 38,000 jobs in May, the weakest performance since September 2010, the Labor Department said Friday. The unemployment rate, obtained from a separate survey of households, fell to 4.7% from 5% in April largely due to...>> view originalWalmart Worker Advocates Express Skepticism Over Raises
Photo Steve Bratspies, Walmart’s chief marketing officer, as he held up a round pillow with a yellow smiley face, a symbol Walmart has used to signal low prices. Credit WALMART FAYETTEVILLE, Ark. — This week, as part of the festivities that surround Walmart’s annual shareholder meeting, “Eye of the Tiger” blasted through loudspeakers as employees entered an arena at the University of Arkansas. Handpicked by their managers out of Walmart’s work force of more than a milli..>> view originalPayday Loans a Crony Capitalist Target
To voters living comfortably in Cambridge, Mass., or the suburbs of Seattle, the payday lending crackdown sounds just right: Those storefront entrepreneurs of dubious extraction are preying upon the poor. They should be banned. But for the Consumer Financial Protection Bureau, the creation of Dodd-Frank which has been busy demonstrating the dangers of an unrestrained regulatory state, a slogan that polls well with liberal voters is only a starting point. The end result of its new payday rules, ..>> view originalReport: McDonald's offering employee buyouts
Oak Brook-based McDonald's Corp. is offering voluntary buyouts to employees, according to published reports. Sources who said they received the offers told Crain's Chicago Business several hundred office workers received buyout offers. Crain's reported the packages were being offered to employees at the director level and above and are scheduled to begin in July. McDonald's spokeswoman Terri Hickey, while not confirming the buyouts, reiterated the company is in the midst of a turnaround plan la..>> view originalBlue Cross premium hikes in Texas, Oklahoma could mean Illinois sticker shock
Illinois residents who buy Blue Cross and Blue Shield health care coverage through the state insurance exchange may be in for Obamacare sticker shock, if proposed rate hikes by the largest insurers in Texas and Oklahoma are any indication.Texas and Oklahoma are possible harbingers of Blue Cross' prices on the Illinois exchange because all three health plans are owned by the same company, Chicago-based Health Care Service Corp. Blue Cross is the most popular insurer on the Illinois exchange. In ..>> view originalFed releases proposed insurer capital standards
The Federal Reserve The Federal Reserve Board unveiled its anticipated capital standards for insurers Friday.Insurers have been clamoring for further clarification of the rules since three of them — American International Group Inc., Metlife Inc. and Prudential Insurance Co. — were identified by the Fed's Financial Stability Oversight Council as Systemically Important Financial Institutions in 2013 and subjected to a higher level of regulatory scrutiny.MetLife successf..>> view originalUS lawmakers probe Fed cyber breaches, cite 'serious concerns'
WASHINGTON A U.S. congressional committee has launched an investigation into the Federal Reserve's cyber security practices after a Reuters report revealed more than 50 cyber breaches at the U.S. central bank between 2011 and 2015.The House Committee on Science, Space and Technology on Friday sent a letter to Federal Reserve Chair Janet Yellen to express "serious concerns" over the central bank's ability to protect sensitive financial information.The letter cited the Reuters report, which was ..>> view originalJPMorgan just relaxed its office dress code in a huge way
Getty/Mark WilsonJPMorgan Chase & Co. CEO Jamie Dimon. In the continuously relaxing American workplace, three industries have largely resisted the tides of casual dress: legal, banking, and government. One of those pillars is starting to crack — that is, at least according to an internal JPMorgan memo seen by Business Insider. The memo, which went out to all employees, detailed a new office dress code for the bank. It said business casual dress would be expanded "firmwide," which "reflects how ..>> view original
Saturday, June 4, 2016
New charges for ex-pharmaceutical executive Martin Shkreli and other top stories.
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