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BP employee settles SEC insider-trading gulf oil spill case

Published April 17, 2014 - 1:55pm CST

(Reuters) — A former 20-year veteran of BP P.L.C. who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges alleging he used non-public information about the disaster to commit insider-trading, U.S. regulators said on Thursday.

Texas town eyes new fertilizer plant a year after deadly blast

Published April 15, 2014 - 3:11pm CST

(Reuters) — Not far from an enormous crater where a fertilizer plant stood before an explosion there killed 15 people, lifeless and uprooted trees surround boarded-up homes spray-painted with “OK.”

Take politics out of health care delivery, Oregon governor urges

By: Jerry Geisel

Published April 10, 2014 - 4:55pm CST

NATIONAL HARBOR, Md. — At a time when bipartisan cooperation on making changes to the nation's health care delivery system is virtually nonexistent, it is time to take politics out of it, one governor says.

OFF BEAT: Kim Dotcom's Megaupload up against U.S. court system

Published April 10, 2014 - 4:18pm CST

Hollywood titans go up against Internet giant Megaupload in an epic copyright battle in the U.S. courts.

Hiscox expands insurance offerings for higher education institutions

By: Kate Shepherd

Published April 10, 2014 - 3:49pm CST

Hiscox Ltd. has expanded protections in its insurance coverages for higher education institutions to meet their increasing risks.

Intel OK'd to fund benefits through captive insurer

By: Jerry Geisel

Published April 09, 2014 - 4:03pm CST

The U.S. Labor Department has given final authorization for Intel Corp. to use its Hawaii captive insurer to fund benefit risks.

HP pays $108M to settle DOJ, SEC overseas corruption probes

Published April 09, 2014 - 12:21pm CST

(Reuters) — Hewlett-Packard Co. will pay $108 million and agreed to take on certain reporting and compliance obligations to settle a Justice Department and SEC investigation into potential violations of the Foreign Corrupt Practices Act.

E.U. telecommunications rule on user data declared invalid

By: Sarah Veysey

Published April 09, 2014 - 9:46am CST

The European Court of Justice has ruled that a European Union directive that requires telecommunications companies to retain users' data for up to two years is invalid.

SEC forms squad to examine private equity and hedge funds: Sources

Published April 07, 2014 - 12:21pm CST

(Reuters) — The SEC has put together a dedicated group to examine private equity and hedge funds after the 2010 Dodd-Frank law required the funds to be regulated, according to people familiar with the matter.

Treasury and IRS simplify retirement plan rollovers

By: Hazel Bradford, Pension & Investments

Published April 03, 2014 - 4:31pm CST

The Treasury Department and Internal Revenue Service issued guidance Thursday that removes a cumbersome step sponsors of retirement plans must take when accepting rollovers from other employers' plans.

OSHA fines real estate developer over $2.3M for asbestos, lead violations

By: Matt Dunning

Published April 03, 2014 - 1:17pm CST

A Wingdale, N.Y.-based real estate development and management company faces more than $2.3 million in fines for knowingly exposing employees and contractors to asbestos and lead hazards.

Senator accuses GM of 'culture of cover-up' in recalls

Published April 02, 2014 - 12:57pm CST

(Reuters) — General Motors Co. came under withering attack for its decade-long failure to notify the public about defective parts linked to fatal crashes, as a U.S. Senate hearing opened on Wednesday with accusations that the company fostered “a culture of cover-up.”

Arch Capital launches reinsurer Watford Re

By: Mark A. Hofmann

Published April 01, 2014 - 2:59pm CST

Arch Capital Group Ltd. has launched a new multiline reinsurer, Hamilton, Bermuda-based Arch said Tuesday.

Nissan recalling over 1 million vehicles for airbag issue

Published March 26, 2014 - 10:46am CST

(Reuters) — Nissan Motor Co. is recalling 1,053,479 vehicles globally, mostly in the United States, to fix software that could deactivate the front passenger airbag.

Appeals court may be leaning toward gutting health care premium subsidies

By: Joe Carlson, Modern Healthcare

Published March 26, 2014 - 10:22am CST

Opponents of the Patient Protection and Affordable Care Act urged a divided panel of appeals judges in Washington to adopt a legal analysis that would essentially gut federal insurance subsidies in 36 states.

Massachusetts says no to proposed 7.7% workers comp rate hike

By: Sheena Harrison

Published March 25, 2014 - 4:30pm CST

Massachusetts state agencies have reached an agreement with the state's Workers Compensation Rating and Inspection Bureau to prevent a 7.7% increase in average workers comp rates, the Massachusetts Division of Insurance said.

Supreme Court won't hear Del. chancery court's public arbitration dispute

By: Judy Greenwald

Published March 25, 2014 - 3:27pm CST

The U.S. Supreme Court has refused to consider an appellate court ruling that would permit public arbitration proceedings in Delaware.

Senators offer bill improving automakers' reporting of safety problems

Published March 25, 2014 - 11:54am CST

(Reuters) — As General Motors Co. comes under scrutiny by Congress for its handling of a long-running problem with ignition switches linked to 12 deaths, two senators on Tuesday offered legislation aimed at improving the auto industry's reporting of safety problems.

GM sued over teens' fatal crash tied to Cobalt's ignition defect

Published March 24, 2014 - 3:50pm CST

(Reuters) — General Motors Co. has been hit with what is believed to be the first wrongful death lawsuit over ignition switch problems since it recalled 1.6 million vehicles in February.

Swap facilitator TeraExchange's Bitcoin derivative under U.S. oversight

Published March 24, 2014 - 2:48pm CST

(Reuters) — TeraExchange said on Monday it had constructed a swap based on the bitcoin virtual currency, a step that would bring the emerging payment system under the oversight of U.S. regulators for the first time.

EEOC sues third company for drug testing policy in discrimination case

By: Judy Greenwald

Published March 24, 2014 - 2:16pm CST

The EEOC has charged a Wal-Mart Stores Inc. unit with disability discrimination for allegedly refusing to let an applicant with end-stage renal disease take an alternate drug test to urinalysis.

Rough road ahead for GM as U.S. Congress plots safety probe

Published March 21, 2014 - 11:47am CST

(Reuters) — The congressional investigation into General Motors Co. automobile defects will bring aggressive scrutiny to a company with powerful lobbying clout and strong ties on Capitol Hill.

Toyota's $1.2B settlement could be model for U.S. probe into GM

Published March 20, 2014 - 11:26am CST

(Reuters) — Toyota Motor Corp. will pay a record $1.2 billion to resolve a criminal probe into safety issues, in a deal that could serve as a template for how U.S. authorities approach a similar investigation into General Motors Co.

Kansas State University racial discrimination case reinstated

By: Judy Greenwald

Published March 19, 2014 - 3:00pm CST

An appellate court has reinstated a racial discrimination case against Kansas State University in which a Hispanic employee charges he continued to be harassed by a supervisor even after an internal investigation concluded his complaint was justified.

Bill to revive Health Coverage Tax Credit introduced in House

By: Jerry Geisel

Published March 14, 2014 - 11:23am CST

Individuals who have lost their jobs due to foreign competition, as well as retirees in failed pension plans, again would be eligible for federal health insurance premium subsidies under legislation introduced last week in the House of Representatives.

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