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Author Archives: Bloomberg News

Trial over “rip-off” bailout of AIG starts

In Maurice “Hank” Greenberg’s telling, the $182 billion taxpayer bailout that saved American International Group Inc. and perhaps all of Wall Street during the 2008 financial collapse was a government rip-off.

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Pfizer pursues inversion, shows companies undeterred

Pfizer Inc. has approached Actavis Plc to express its interest in an acquisition that could allow the U.S. drugmaker to move overseas and reduce taxes, in a sign the Obama administration’s efforts to curtail such deals could fall short.

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Consumer Bureau should improve data-privacy safeguards, GAO says

The U.S. Consumer Financial Protection Bureau should improve the security of information it gathers on individuals to protect against improper use and release, the Government Accountability Office said in a report.

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Short-term reprieve spurs campaign to save Ex-Im Bank

The U.S. Export-Import Bank won a reprieve from Congress because its renewal was tucked into a must-pass bill funding the federal government. Next time, the bank will have to fight for survival on its own.

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Wal-Mart accused by groups of violating campaign-finance laws

Wal-Mart Stores Inc. was accused by three advocacy groups of violating federal campaign-finance law by asking employees to donate to its political action committee in exchange for matching donations to a company charity.

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San Francisco moves to pay for lawyers for immigrant children

San Francisco lawmakers are moving toward providing $2.1 million for lawyers to represent undocumented immigrant children facing deportation after crossing the U.S. border to escape violence in Central America.

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Holder warns of charges against bankers and seeks whistleblowers

U.S. Attorney General Eric Holder is bearing down on Wall Street, warning of charges against individual bankers and pushing for bigger rewards for executives who come forward with evidence of financial crime.

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Apple Watch’s health data privacy questioned by Connecticut

Apple Inc. faces questions by Connecticut Attorney General George Jepsen over privacy protections for users of the company’s watch, which includes features such as health tracking, unveiled last week as part of its lineup of new products.

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Health care tax rule to get rehearing after split appeals ruling

The full U.S. Court of Appeals in Washington will rehear a case on Patient Protection and Affordable Care Act tax subsidies, granting a government request in a move that may reduce chances of a new Supreme Court showdown over a central element of the Affordable Care Act.

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