JPMorgan again wins dismissal of whistleblower lawsuit in U.S. NEW YORK, Oct 9- JPMorgan Chase& Co on Friday won the dismissal of a U.S. whistleblower lawsuit filed by a former vice president who claimed the bank ignored red flags about a client's potential fraud, even after authorities exposed the massive Ponzi scheme operated by longtime JPMorgan client Bernard Madoff. Instead, he said, JPMorgan had shown there were...
| By: Joseph Ax
Recalls this week: Highchairs, off-highway vehicles About 35,000 highchairs are being recalled this week because nearly a dozen children have suffered injuries after removing the tray and falling. They were sold at Babies R US and Toys R Us retail stores nationwide and online at www.Amazon.com, www.BabiesRUs.com, www.ToysRUs.com and www.Walmart.com and other online retailers from May 2013 through May 2015.
Source: The Associated Press
| By: By The Associated Press
Leading economies agree plan to fight corporate tax avoidance LIMA, Oct 9- The Group of 20 major economies have endorsed a package of measures to tackle corporate tax avoidance, but questions remain about whether countries will follow through on the plans or leave loopholes multinationals can exploit. The ministers reached the agreement against a backdrop of concern about weak economic growth, tight government...
| By: Paul Carrel
UPDATE 1-U.S. says CSX missed rail defect blamed for oil train derailment WASHINGTON, Oct 9- A fiery oil train derailment that forced the evacuation of hundreds of people in West Virginia last February was caused by a rail defect that railroad inspectors from CSX Corp missed twice in the preceding months, U.S. regulators said on Friday. Twenty-seven of the train's 109 cars derailed near Mount Carbon, West Virginia, on Feb. 16.
UPDATE 7-Oil choppy on profit-taking in biggest weekly surge since 2009 *Baker Hughes rig count due later on Friday. Brent crude, the global benchmark, was down 57 cents at $52.48 a barrel at 1427 GMT, during a volatile session that saw the contract reach an intraday high of $54.05. U.S. crude was up 12 cents at $49.55 a barrel, off a two-month high of $50.92 reached earlier in the session.
| By: Karolin Schaps
Steve Jobs plays dual role of hero, villain in the movies SAN FRANCISCO- Apple co-founder Steve Jobs became renowned for conjuring a "reality distortion field" that made people believe whatever he wanted. "Steve Jobs," which opened Friday, is the latest movie to examine a charismatic visionary who mesmerized the masses with his trendsetting gadgets while alienating his subordinates and friends with an...
Source: The Associated Press
| By: By MICHAEL LIEDTKE, AP Technology Writer
COLUMN-LME; revamped and resurgent but with a troubled heart? Andy Home LONDON, Oct 9- It's been three years since Hong Kong Exchanges and Clearing bought the London Metal Exchange and there is a sense that the makeover of the venerable old lady of metals trading is finally starting to bear fruit. The LME is even starting to return some of the $2.2 billion HKEx splashed out on its acquisition, contributing a nearby doubling of net...
| By: Andy Home
METALS-LME zinc soars 8.5 pct, fuelling metal surge after Glencore output cuts *Glencore to cut 500,000 T of annual zinc capacity. MELBOURNE, Oct 9- London zinc surged more than 8 percent on Friday, firing a widespread rally across base metals after top miner Glencore said it would slash its annual output by a third. Commodities giant Glencore said it will cut 500,000 tonnes of zinc production, or around 4 percent of global supply, in its latest...
| By: Melanie Burton