Category: Business

NEW YORK – A U.S. regulator on Monday fined Citigroup Inc C.N $4.5 million for deleting millions of audio files, including recordings it had subpoenaed, after failing to fix a known design flaw in its audio preservation system. The U.S. Commodity Futures Trading Commission said the Nov. 2018 deletion of 2.77 million audio files included […]

BRUSSELS – U.S. tech giant Alphabet Inc’s GOOGL.O Google has boosted its market power in the three years since EU antitrust enforcers ordered it to stop favouring its own price comparison shopping service, a study of 25 of its rivals showed on Monday. Hit with a 2.4-billion-euro ($2.8 billion) fine three years ago by the […]

WASHINGTON – General Motors Co will repay $28 million in state tax incentives to Ohio after the largest U.S. automaker came under heavy criticism for closing its Lordstown Assembly plant in March 2019. GM announced its planned closure of the plant in Northeast Ohio in November 2018 along with three other U.S. plants, drawing condemnation […]

CHICAGO – United Airlines’ UAL.O pilots voted on Monday to accept a deal that would avert 2,850 furloughs set for Thursday, while thousands of other U.S. airline employees are hoping Congress will extend federal aid to save their jobs. An initial $25 billion government bailout that covered airlines’ payrolls and protected jobs for six months […]

U.S. automakers are facing a problem most forecasters and industry executives did not expect when the pandemic slammed the economy this spring: Strong demand and lean inventories at dealerships. Automakers report September U.S. sales on Thursday, and forecasters expect the annualized sales pace will exceed the August rate of 15.2 million vehicles. Consumer demand for […]

A federal judge in California on Monday urged Apple Inc and “Fortnite” creator Epic Games to take their antitrust dispute before a jury, saying the higher courts would be less likely to overturn the result. “I know I’m just a stepping stone for all of you,” District Judge Yvonne Gonzalez Rogers said during a virtual […]

Amazon.com Inc AMZN.O said on Monday it would hold its annual shopping event, Prime Day, on Oct. 13 and 14 as the e-commerce giant aims for an early kickstart to the holiday season. The company earlier this year had postponed the two-day shopping event, which started in 2015 to drum up sales during the summer […]