HSBC ‘to pay $1.9bn’ in US deal

10 December 2012 Last updated at 19:30 ETHSBC is to pay US authorities $ 1.9bn (£1.2bn) in a settlement over money-laundering, say reports, the largest ever in such a case.The UK-based bank was alleged to have helped launder money belonging to drug cartels and states under US sanctions.Earlier this year HSBC admitted having poor money laundering controls following a US Senate investigation.Last month...

Read More..

Egypt army given temporary power to arrest civilians

CAIRO (Reuters) – Egypt’s Islamist president has given the army temporary power to arrest civilians during a constitutional referendum he is determined to push through despite the risk of bloodshed between his supporters and opponents accusing him of a power grab.Seven people were killed and hundreds wounded last week in clashes between the Islamist Muslim Brotherhood and their critics besieging Mohamed...

Read More..

In giant “garage sale”, Japan’s TV giants hawk $3 billion of assets

TOKYO (Reuters) – Panasonic Corp, Japan‘s struggling maker of Viera brand TVs, owns more than 10 million square meters of office and factory space, dormitories for its workers and sports facilities for its rugby, baseball and women’s athletics teams.As it battles for Christmas shoppers’ wallets in the year-end holiday season, the sprawling electronics conglomerate is also seeking buyers for some of...

Read More..

Obama met Boehner on Sunday over fiscal cliff: aides

WASHINGTON (Reuters) – President Barack Obama met with Republican Speaker of the House of Representatives John Boehner on Sunday at the White House to negotiate ways to avoid the “fiscal cliff,” according to White House officials and a congressional aide.The two sides declined to provide further details about the unannounced meeting. Obama and Boehner aides used the same language to describe it.“This...

Read More..

India’s Strange Obsession With Hitler

All that remains of the sign above the Hitler clothing store in Ahmedabad, India, is the swastika that used to dot its “i.” Citing cultural insensitivity, the municipality tore it down on Oct. 30 after the store’s owners refused to change it. Rajesh Shah, a co-owner of the shop, which opened in August, is flummoxed. “We are popular because of the name,” he says. “Our customers were not upset...

Read More..

EU leaders in Norway to pick up Nobel Peace Prize

OSLO, Norway (AP) — European Union leaders on Sunday hailed the achievements of the 27-nation bloc, but acknowledged they need more integration and authority to solve problems, including its worst financial crisis, as they arrived in Norway to pick up this year’s Nobel Peace Prize.Conceding that the EU lacked sufficient powers to stop the devastating 1992-95 Bosnia war, European Commission President...

Read More..

Synacor partners with Zynga to bring social games to pay TV

(Reuters) – Synacor Inc, partly owned by Intel Corp, said it partnered with Zynga Inc to allow pay TV and broadband providers offer social games to their customers.Zynga shares rose about 3 percent to $ 2.30 in premarket trading, while Synacor shares were up about 5 percent at $ 6.60.Synacor said certain pay-TV subscribers will get in-game currency each month as part of their subscription that can...

Read More..

Lupus forces singer Toni Braxton into LA hospital

LOS ANGELES (AP) — Singer Toni Braxton has been hospitalized in Los Angeles.The R&B performer says in a Tweet on Friday that she’s been hospitalized because of “minor health issues” related to Lupus. A spokeswoman confirmed the hospitalization but had no other details. “But no worries!,” Braxton wrote to fans. “I will be out any day now.”The 45-year-old singer of “Un-break My Heart” revealed two...

Read More..

Venezuela’s Chavez to have another cancer operation

CARACAS (Reuters) – Venezuelan President Hugo Chavez said on Saturday he would undergo another cancer operation in the coming days after doctors in Cuba found a third recurrence of malignant cells in his pelvic area.The news is a big blow for his supporters in South America’s biggest oil exporter, who elected him in October to a new six-year term in power. Chavez has twice said he was cured, and then...

Read More..

Good U.S. Jobs Report Comes With an Asterisk

The economy added 146,000 jobs in November and the unemployment rate fell to 7.7 percent, its lowest level since December 2008, the government said today in a report that was complicated by special factors of weather and politics.Paul Ashworth, chief U.S. economist for Capital Economics, described the report as “something of a mixed bag” but said “on balance, it’s positive.”The drop in the jobless...

Read More..