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Ex-Cantor Fitzgerald mortgage bond trader indicted in U.S. for fraud
A former Cantor Fitzgerald trader has been indicted on charges that he defrauded investors by lying about the price of mortgage bond transactions he handled for them after the financial crisis, US prosecutors said on Friday. In a joint statement afterwards, his legal team, which includes lawyers Peter Chavkin and Stanley Twardy, said Demos would fight the charges.
Cadillac disavows casting call for 'neo-Nazi' character in brand ad
General Motors Co's (GM.N) Cadillac brand on Saturday disavowed a casting notice that called for an alt-right role in a Cadillac commercial amid a storm of outrage on social media. The alt-right is a loose grouping characterized by a rejection of mainstream politics that includes neo-Nazis, white supremacists and anti-Semites. Cadillac officials said on Saturday the brand did not authorize or approve a casting notice for an 'alt-right (neo-nazi)' role in a commercial.
Farhad's and Mike's Week in Tech: Why Facebook Can't Count
It's a secretive company based in Florida that has gotten loads of hype - and $1.4 billion in funding - for its supposedly out-of-this-world augmented reality tech. The documents show Marc Andreessen, the venture capitalist and Facebook board member, texting Zuckerberg during the deliberations over the stock structure. The whole episode is just another reminder that Facebook and its directors do not care one bit about how shareholders believe Facebook should be run.
The Rich History of Twinkies
Below is a look at key moments in the history of Hostess. Minneapolis Candidate Freed of Twinkie Charge 1995 Ralston Purina agreed to sell the maker of Hostess Twinkies to the Interstate Bakeries Corporation. Maker of Twinkies and Wonder Bread Files for Chapter 11 2009 More than four years later, Interstate Bakeries emerged from bankruptcy protection and renamed itself Hostess Brands.
Russia and Others Join OPEC in Rare, Coordinated Push to Cut Oil Output
Russia and other oil producers agreed on Saturday to join OPEC nations in a rare, coordinated reduction in oil output meant to lift petroleum prices and revenues to shore up their sagging government budgets. It may all come to seem an optical illusion, said Bhushan Bahree, an OPEC analyst at IHS Markit, a research firm. The cuts, if carried out, will amount to only around 2 percent of the overall global oil market.
Prudential investigating Wells Fargo partnership after scandal
US insurer Prudential Financial is investigating whether Wells Fargo employees signed up customers for its life insurance policies without their knowledge, a spokesman said on Saturday. Prudential has a partnership with Wells Fargo to sell a low-cost life insurance policy, known as MyTerm, to the bank's retail customers. Scot Hoffman, a spokesman for Prudential Financial, said the insurer had been monitoring its business with Wells Fargo since last year.
OPEC, non-OPEC agree first global oil pact since 2001
OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries. Analysts question whether many other non-OPEC producers are attempting to present a natural decline in output as their contribution to the deal. He added OPEC would target an oil price of $60 per barrel as anything above that could encourage rival production.
Selling Yachts in an Office That Rises and Falls With the Tides
My office, a light sky blue with curved windows and white plantation shutters, is on the second floor. One has the name of a boat that was picked up here by a crane and loaded onto another ship for delivery to Alaska. I went online and tracked the speed and course of the ship it was on and sent frequent updates to the new owner. The name board with the red navigation light was located on the forward left side of the boat.
Wall Street Is Europe's Landlord. And Tenants Are Fighting Back.
Her worst fear, Mrs Tobun said, was that her family might wind up among the growing ranks of the homeless. Rents in Ireland have risen around 20 percent since the crisis as home construction dried up after the bust. The statement said a Larkin-owned company wanted to exit the residential rental business, given regulatory changes and improving market conditions.
Just How Much Do the Top Private Equity Earners Make?
Using the same method it used for private equity, Equilar collected data from the nation's largest banks and the technology giants. For one thing, of the top 15 executive payouts from 2015, 10 were in private equity. So, while private equity earned the biggest payouts among the largest publicly traded industries, there could be private companies doling out even bigger paydays. Similarly, of the thousands of private equity firms that exist, only a half dozen or so are publicly traded.
How the Twinkie Made the Super-Rich Even Richer
The way these firms see it, they created a new company and new jobs with higher pay and generous bonuses. The collapse and revival of Hostess illustrates how even in a business success, many workers don't share in the gains. The episode also provides a snapshot of the economic forces that helped propel Donald J Trump to the White House. A lifelong Democrat and devoted union man, Mr Popovich said he supported Mr Trump, the first time he ever voted Republican.
Lawyers seek to launch fresh Brexit challenge in Irish courts
A group of British and Irish lawyers are seeking to challenge Britain's decision to leave the European Union in the Irish High Court to try to establish if Brexit can be reversed once divorce talks have been triggered. That challenge is now in front of Britain's Supreme Court.

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