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Business & Lifestyle

Wells Fargo to pay $142M in class-action settlement of fake accounts

Allen Cone United Press International SAN FRANCISCO (UPI) -- A federal judge has approved a plan for Wells Fargo & Co. to pay $142 million in a class action suit involving customers of fake accounts. U.S. District Vince Chhabria ruled on Saturday in San Francisco the settlement was "fair, reasonable and adequate." Last year, Wells Fargo admitted that 2 million potentially unauthorized checking and credit card accounts were opened between 2011 and 2015. In September, federal Consumer Financial Protection Bureau fined the banking giant $185 […]

todayJuly 10, 2017 3

World

28 dead in Acapulco, Mexico, prison riot

Ed Adamczyk United Press International ACAPULCO, Mexico (UPI) -- A fight between rival gangs in an Acapulco, Mexico, prison killed at least 28 people, a federal military spokesman said. The riot began early Thursday among inmates in the Las Cruces Prison's maximum security wing who were jailed for federal offenses. Inmates were found stabbed and beaten, and several were decapitated. State security spokesman Roberto Alvarez said the fight began because of "the permanent struggle of opposing groups inside the prison." He added that "the […]

todayJuly 9, 2017

Business & Lifestyle

Nevada governor backs emergency regulations amid marijuana shortage

Daniel Uria United Press International CARSON CITY, Nev. (UPI) -- Nevada Gov. Brian Sandoval endorsed emergency regulations to combat a shortage of marijuana at legal recreational retailers in the state. The state law legalizing recreational marijuana starting this month dictated that wholesale alcohol distributors be granted exclusive rights to transport marijuana for the first 18 months of legal sales, but a lack of approved distributors has created a potential shortage, the Reno Gazette-Journal reported. "Based on reports of adult-use marijuana sales already […]

todayJuly 8, 2017 4

Business & Lifestyle

U.N. member countries approve global nuclear treaty

Danielle Haynes United Press International NEW YORK (UPI) -- The United Nations formally adopted a treaty banning nuclear weapons Friday in New York City after months of talks and some seven decades of hoping for a similar agreement. Representatives from more than 120 of the 192 member countries in the United Nations endorsed the Treaty on the Prohibiting Nuclear Weapons. All member states are able to sign the treaty during the General Assembly on September 20. Nearly all countries that bear nuclear […]

todayJuly 7, 2017 4

Business & Lifestyle

After powder scare, Illinois overrides governor for first budget in 3 years

Doug G. Ware United Press International SPRINGFIELD, Ill. (UPI) -- The Illinois legislature on Thursday voted to override the governor and usher in a tax hike and balance the budget -- something the state hasn't been able to do in more than three years. A bipartisan Illinois House voted 72-41 to supersede Gov. Bruce Rauner, who had vetoed the measures -- fearing they would only lead to more tax increases in the near future. Thursday's vote marked the first time since 2014 that […]

todayJuly 6, 2017 1

Business & Lifestyle

‘Shocked’ NYC judge orders ex-pharma exec Shkreli to ‘stop talking’

Doug G. Ware United Press International NEW YORK (UPI) -- The first gag order given to former pharmaceutical executive Martin Shkreli at his New York City fraud trial apparently wasn't enough. A federal judge at Shkreli's proceedings on Wednesday issued a revised gag order against the controversial figure -- in response to a fiery public rant he made last week and a number of postings on what could be his new Twitter account. Shkreli, former head of Turing Pharmaceuticals, is facing trial on federal securities […]

todayJuly 6, 2017 3

Business & Lifestyle

South Korean president: ‘retreat’ not an option on North Korea

Elizabeth Shim United Press International WASHINGTON (UPI) -- South Korean President Moon Jae-in said a "retreat" from the threat of North Korea's growing nuclear weapons program is no longer an option, echoing earlier statements from U.S. President Donald Trump "patience is over" as a strategy when dealing with Pyongyang. "Even as we face the most imminent and dangerous menace in the world, we should no longer continue to retreat but move forward and take a new leap toward the future," Moon said Friday at the Center […]

todayJuly 1, 2017 4

Business & Lifestyle

Berkshire Hathaway buys Bank of America stock, sees $11.7 billion profit

Ed Adamczyk United Press International OMAHA, Neb. (UPI) -- Berkshire Hathaway Inc. will be Bank of America's largest stockholder and will receive a profit after announcing Friday it plans to purchase 700 million shares. Berkshire will use its $5 billion in Bank of America preferred stock to purchase the common stock at $7.14 per share, well below its closing price of $24.32 per share. The preferred stock was bought in 2011; it came with a 6 percent annual dividend and a warrant allowing […]

todayJune 30, 2017 2

Business & Lifestyle

Germany approves same-sex marriage

Danielle Haynes United Press International BERLIN (UPI) -- The German parliament on Friday passed legislation legalizing same-sex marriage after Chancellor Angela Merkel, who voted against the measure, encouraged her party to vote their conscience. Members of Germany's Bundestag voted 393-226 to pass the bill, and four people abstained. Merkel voted no, saying "For me marriage as defined by the law is the marriage of a man and a woman." But she encouraged her conservative Christian Democratic Party -- which has long opposed same-sex marriage […]

todayJune 30, 2017 20

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