Tag Archives: million

Italy fines car finance cartel 678 million euros

Italy’s anti-trust authority said on January 9 it has fined a swathe of top car makers, including BMW, Fiat-Chrysler, Ford and Toyota, 678 million euros (USD 776 million) for operating a financing cartel. The car manufacturers and their respective banks which offer financing to customers purchasing vehicles were found guilty of running a cartel from 2003 to 2017, the AGCM ... Read More »

ISAI raises $175 million fund to help French entrepreneurs scale up

Image Credit: Reuters VB Recommendations Google doesn’t dispute claims that third-party developers may read your Gmail messages Upcoming Events Transform: The AI event of the year for growth marketers. Aug. 21 – 22 VB Summit: The best in AI. An invite-only executive event. Oct. 22 – 23 Paris-based venture capital fund ISAI today announced it has closed a later-stage fund of $175 million to ... Read More »

Yes Bank raises $400 million loans from Japan, Taiwan

Midsize private sector lender Yes Bank has raised $400 million in syndicated loans from lenders in Taiwan and Japan for on-lending to clients. It exercised a greenshoe option to raise $250 million in a five year commercial loan from 17 Taiwanese banks, a statement said. In Japan, it raised JPY 16.5 billion or $150 million from eight lenders in a ... Read More »

Snapdeal wants Flipkart to pay $900 million for buyout

Online marketplace Snapdeal has asked bigger rival Flipkart to pay at least $900 million in stock after rejecting the latter’s latest offer to buy the company, two people familiar with the matter said. Flipkart is yet to respond to Snapdeal’s demand but the company will send a new offer this week that will be higher than its previous bid of ... Read More »

Verizon close to Yahoo deal, price cut of $250-350 million – sources

Verizon Communications Inc (VZ.N) is close to a revised deal to buy Yahoo Inc’s (YHOO.O) core internet business for $250 million to $350 million (£200.7 million to £281 million) less than the original agreed price of $4.83 billion, according to a source briefed on the matter. Since last year, Verizon had been trying to persuade Yahoo to amend the terms ... Read More »

United to pay $2.4 million over ‘Chairman’s Flight’: U.S. SEC

United Airlines’ parent company (UAL.N) will pay $2.4 million to resolve civil books and records violations after it reinstated an unprofitable flight route to accommodate the chairman of the Port Authority of New York and New Jersey, the U.S. securities regulator said. The U.S. Securities and Exchange Commission said United Airlines’ decision in December 2011 to add a nonstop flight ... Read More »

Deutsche Bank to pay $60 million to settle U.S. gold price-fixing case

Deutsche Bank AG has agreed to pay $60 million to settle private U.S. antitrust litigation by traders and other investors who accused the German bank of conspiring to manipulate gold prices at their expense. The preliminary settlement was filed on Friday with the U.S. District Court in Manhattan, and requires a judge’s approval. Deutsche Bank denied wrongdoing. The bank in ... Read More »

Fiat Chrysler recalls 1.9 million vehicles over air bag defect

Car maker Fiat Chrysler is recalling 1.9 million vehicles over an air bag defect that may be linked to three deaths and five injuries. The defect may stop air bags deploying and seat belts tightening in a head-on crash. Certain Chrysler, Dodge, Jeep and Lancia vehicles from 2010 to 2014 are being recalled. There have been a number of car ... Read More »

NY Fed first rejected cyber-heist transfers, then moved $81 million

Hours before the Federal Reserve Bank of New York approved four fraudulent requests to send $81 million from a Bangladesh Bank account to cyber thieves, the Fed branch blocked those same requests because they lacked information required to transfer money, according to two people with direct knowledge of the matter. On the day of the theft in February, the New ... Read More »

North Korean invasion: Kim’s masterplan will leave a million dead

Starved of food, North Korea is on the brink of collapse, and in its desperation threatens an invasion of its South Korean neighbours. Reports from the country reveal Kim Jong-un has built a replica of the South Korean presidential palace to train his troops for an invasion as tensions escalate. And with America pledged to defend the South in case ... Read More »