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Author Archives: Bloomberg News

JPMorgan CEO Dimon to undergo treatment for throat cancer

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., told employees and shareholders in a memo that he’s beginning treatment for throat cancer and will continue to run the company “as normal.”

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GM judge says concealing switch defect would have been fraud

General Motors Co. customers who sued the automaker over fallen car prices might have a stronger case if they could prove company executives defrauded the court about a faulty ignition switch when testifying during its 2009 bankruptcy, a judge said.

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BNP Paribas to pay $8.8B in sanctions probe plea deal

BNP Paribas SA pleaded guilty to charges tied to a U.S. probe of sanctions violations, resolving a wide-ranging state and federal investigation with a penalty of at least $8.8 billion, the largest fine for such a case in history.

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FTC opens probe into sales-delay agreements between drug companies

U.S. regulators, armed with a year-old Supreme Court decision, are stepping up investigations of pharmaceutical deals that delay the sale of generic drugs, arrangements they view as illegally hurting competition.

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BofA mortgage negotiations said to stall as U.S. readies lawsuit

The U.S. is preparing to sue Bank of America Corp. amid an impasse in talks to resolve government probes of the lender’s sale of mortgage-backed bonds before the financial crisis, a person familiar with the matter said.

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Trade regulator names litigator as enforcement director

Aitan Goelman, a former federal prosecutor and criminal defense lawyer, was named director of enforcement at the U.S. regulator in charge of rooting out fraud and manipulation in derivatives markets.

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BNP executive firings sought amid sanctions

New York banking regulator Benjamin Lawsky is pressing BNP Paribas SA to dismiss one of its top executives as part of settlement negotiations with the U.S. over alleged sanctions violations, according to a person familiar with the matter.

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GM said to oust senior lawyer Bill Kemp following Valukas review

General Motors Co. ousted Bill Kemp, a senior lawyer who was responsible for safety issues within its legal department, as the automaker reforms the operations that failed to address defective parts linked to 13 deaths.

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