The US Department of Justice and rating agency Moody`s said they reached an agreement in legal dispute. The agency will pay $ 864 million of compensation to the American authorities for incorrect assignment of rating to mortgage-backed securities in anticipation of the mortgage crisis in 2007. Inflated ratings of mortgage-backed securities were one of the main causes of the mortgage crisis,...

On Friday, 13 January, Renault’s quotes fell down 6%. France Press reported that the French regulators are launching a preliminary investigation into possible underestimation of emissions in the concern’s diesel cars. According to the agency’s source, the investigation began on January 12, led by three forensic investigators. Exactly one year ago, AFP’s message also provoked 25% slump of...

Organization People for the Ethical Treatment of Animals, PETA, has become a minority shareholder of French luxury manufacturer LVMH Moet Hennessy Louis Vuitton SA products. This way, the organization hopes to intensify the fight against the use hides and skins of exotic animals in the fashion industry, writes the Financial Times. PETA’s decision to buy shares in LVMH resulted from investigation...

General Director of American corporation General Motors (GM) Mary Barra said that the company is not going to revise plans on expansion of production abroad, despite criticism of the United States President-elect Donald Trump. "Automobile business requires long-term planning when choosing locations for production. Decisions are taken two or four years in advance", - quoted by AP. Ms. Barra...

McDonald's is selling 80% of its business in China and Hong Kong to Citic and Carlyle Group investment funds. The buyers will obtain the franchise to manage the fast food restaurants chain for 20 years. Consortium of Citic and Carlyle Group is acquiring 80% of the corporation’s regional business for $ 2.08 billion. Among other clauses, the agreement implies provision of the general franchise for...

Brazilian state oil company Petrobras announced sale of non-core assets for total amount of $ 587 million to mobilize efforts to reduce debt. According to The Wall Street Journal, the company put up for sale 45.97% stake in sugar and ethanol producer Guarani SA of French company Tereos Internacional in the amount of $ 202 million. In a separate statement, Petrobras representatives added that...

Japanese Takata and the US federal judicial authorities are nearing an agreement to settle criminal investigation on defective airbags. The supplier of automotive components is going to settle the case in January and is expected to pay a fine of up to $ 1 billion, writes The Wall Street Journal, citing sources close to discussion of the agreement. Eventual amount of penalty may be somewhat less...

American manufacturer of mobile processors Qualcomm has been fined more than $ 850 million for breach of antitrust laws. The company has been criticized worldwide for its business of licensing patents, reports The Wall Street Journal. On Wednesday, December 28, Korea Fair Trade Commission (KFTC) announced that Qualcomm illegally restricted access to their patents for other chipmakers. Company...

US Amazon.com Inc., the world's largest online retailer, announced that it has shipped more than 1 billion products worldwide during this Christmas and New Year's holiday season. The company says the holidays have already become the best in history. Head of the company’s global consumer products division, Jeffrey A. Wilke, commented that intelligent voice assistant Amazon Echo and its smaller...