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Author Archives: Bloomberg

Shkreli decries `witch hunt’ after convicted of securities fraud (access required)

Martin Shkreli, once dubbed “the most hated man in America,” is now a convicted felon. Shkreli, notorious for raising the price of a potentially life-saving drug by 5,000 percent, was found guilty Friday of defrauding investors in two hedge funds and ...

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Wells Fargo settles federal lawsuit over loans to veterans (access required)

Wells Fargo & Co. settled an 11-year-old lawsuit with the U.S. government that claimed the lender overcharged veterans under a federal mortgage-refinancing program. The bank will pay $108 million to the government to resolve allegations that some loans it made ...

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Under Armour’s shoe business has to step it up (access required)

In a year that has been plenty humbling for much of the retail industry, few companies have gotten quite the comeuppance Under Armour Inc. has. The athletic apparel giant reported on Tuesday that its revenue in the latest quarter was ...

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Fox’s talks with Ion could pave way for dump of Sinclair as partner (access required)

21st Century Fox Inc. is in talks to operate local television stations across the U.S. with Ion Media Networks Inc., potentially paving the way for Fox to dump Sinclair Broadcast Group Inc. as an affiliate partner, a person familiar with the ...

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Wells Fargo customers sue claiming auto insurance scheme was scam (access required)

Wells Fargo & Co. customers accused the bank in a lawsuit of forcing them to pay for unnecessary auto insurance that drove some of them so far into a financial spiral that their vehicles were repossessed. The complaint comes after ...

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Discovery buys Scripps for $11.9B, creating cable giant (access required)

Discovery Communications Inc. agreed to buy Scripps Networks Interactive Inc. for $11.9 billion in a bet that uniting ownership of cable channels like Animal Planet and HGTV will help the company adapt to a fast-changing television landscape. Discovery, one of billionaire ...

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‘Incredible shrinking airline seat’ gets US court rebuke (access required)

If you think the government should do something about the cramped legroom on airplanes, you’ve got a friend in a federal court. The U.S. Court of Appeals in Washington, D.C., on Friday ordered aviation regulators to consider setting minimum standards ...

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Trump targets legal effort to protect LGBT workers from bias (access required)

President Donald Trump’s administration came out against an effort by civil rights groups to ban workplace discrimination against gays and lesbians nationwide, putting him at odds with some of the country’s most valuable companies. The U.S. Justice Department on Wednesday ...

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Trump wins ruling allowing voter panel to gather information (access required)

President Donald Trump’s election integrity commission won a judge’s approval to collect data about U.S. voters even though many states are resisting its request that they hand over information. U.S. District Judge Colleen Kollar-Kotelly on Monday rejected a privacy group’s ...

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