China approves Ford, Mazda, Changan to split JV in two: Ford CEO
CHONGQING, China - Ford Motor and Mazda Motor Corp and their local Chinese partner Chongqing Changan Automotive Co have received approval from China's central government to split their three-way, manufacturing and sales joint venture into two, Ford's chief executive said on Monday.
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Reuters
AIG files to dismiss part of Greenberg suit over bailout
Insurer American International Group Inc has asked a court to block Maurice "Hank" Greenberg's efforts to sue the government on AIG's behalf, saying its former CEO has not proven he should have the right to do so.
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Reuters
Adelson testifies middleman "couldn't deliver" in Macau
LAS VEGAS - Las Vegas Sands Chairman and CEO Sheldon Adelson said on Thursday a Hong Kong businessman claiming in a lawsuit that he is owed $328 million didn't help the gaming company get permission from the Macau government to operate a casino there.
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Reuters
If Skilling walks, government gets a big black eye
Enron was one of the biggest frauds ever -- now lawyers are wondering why prosecutors want to let the former CEO walk early
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CBS
Fannie Earns $17.2B in 2012, Biggest Annual Gain
WASHINGTON — Fannie Mae earned $17.2 billion last year, the biggest annual profit in the U.S. mortgage giant’s history, helped by a record fourth quarter. The 2012 gain was driven by the housing recovery, which has reduced delinquencies and lifted home prices six years after the bubble burst. The government-controlled company also said Tuesday that it paid dividends of $11.6 billion to the U.S. Treasury in 2012. Fannie says it expects to remain profitable “for the foreseeable future.” The company did not seek any federal assistance in 2012. That followed a year in which the company reported a net loss of $16.9 billion and requested $25.9 billion in federal assistance. (MORE: Savings Booster: Making It Simpler to Repay Your 401(k) Loan) Taxpayers spent $188 billion to rescue Fannie and smaller sibling Freddie Mac from their exposure to risky loans that trigged the 2008 financial crisis. Fannie received $116 billion and has paid back $35.6 billion. Freddie received $72 billion and ...
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