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MetLife fined $20M for variable annuities switches

WASHINGTON— MetLife has been fined $20 million by Wall Street's policing body for misleading customers in switching them from variable annuities contracts into more expensive ones. New York- based MetLife neither admitted nor denied the allegations. "MetLife fully cooperated with the FINRA investigation and we are pleased to put this matter behind us," the...

Source: The Associated Press

Facebook still isn't a mall, but its bots aim to change that

NEW YORK— It's now possible— though neither easy nor particularly convenient— to buy stuff on Facebook via automated messaging "bots." "I would totally shop using message bots for things I know I'm buying"— like soap, shampoo or socks, says Patrick Jones, a software engineer in Washington, D.C. But he doesn't quite see how bots would help with more personal purchases, such...

Source: The Associated Press

UPDATE 2-London Stock Exchange says merger with Deutsche Boerse on track

LONDON, April 27- The London Stock Exchange Group stuck to its guns on Wednesday over its planned merger with Deutsche Boerse, saying the deal would be derailed by neither regulators nor any British exit from the European Union. "We wouldn't be embarking on a merger if we thought there would be any problems," LSEG Chairman Donald Brydon said in response to a...

Source: Reuters

NYSE, Nasdaq blast SEC market advisory group plans, processes

NEW YORK, April 26- A plan to test limiting a contentious pricing model used by U.S. stock exchanges could have negative consequences and would not improve the trading of listed companies, executives from the New York Stock Exchange and Nasdaq Inc said on Tuesday. Neither NYSE nor Nasdaq, which list nearly all public U.S. companies, are represented on the committee,...

Source: Reuters

Trump, Clinton 'horribly flawed': Ex-GOP hopeful

Neither Republican Donald Trump nor Democrat Hillary Clinton is fit to be president, says George Pataki, former 2016 GOP presidential candidate.


Paul Ryan: I won't be GOP nominee, 'end of story'

House of Representatives Speaker Paul Ryan said Tuesday that he would not be drafted as a presidential candidate.


YOUR MONEY-Last chance for 2015 tax deductions

Los Angeles, April 5- If you are in the process of preparing your 2015 tax return and find yourself horrified by the amount you owe or disappointed by the paucity of your refund, you have one last chance to cut the bill by paying yourself instead of Uncle Sam. If neither you nor your spouse are covered by an employer plan, you can deduct IRA contributions up to the limits...

Source: Reuters



Source: Reuters

Aveo Pharmaceuticals to pay U.S. SEC $4 mln to settle kidney drug case

March 29- Biotech company Aveo Pharmaceuticals Inc will pay $4 million to settle civil charges that it misled investors about U.S. regulators' concerns involving its drug to treat kidney cancer, the Securities and Exchange Commission said on Tuesday. Aveo, in settling the case, neither admitted nor denied the SEC's allegations, the agency said.

Source: Reuters

UPDATE 1-Siemens-Gamesa merger puts French offshore wind deal at risk

PARIS, March 18- Siemens has no plans to build a turbine factory in France after it merges its wind assets with those of Spain's Gamesa, nor does it want any jumbo turbine technology developed by Areva, two sources said. That venture won contracts to build wind parks with 1.5 gigawatts of capacity off the French coast, on condition that Areva develops and builds a...

Source: Reuters