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March 4, 2014

Judge rules Chevron doesn’t have to pay billions in Ecuadorian ruling

  • $9.5B in damages won’t have to be paid to Ecuadorian villagers, as part of a ruling against Chevron that approved by Ecuador’s Supreme Court, according to a trial judge in Manhattan. According to U.S. District Judge Lewis Kaplan, there was clear evidence of corruption in the original ruling, leading Kaplan to refuse to enforce the fine in the United States. Chevron has already pulled the bulk of its resources out of Ecuador, forcing those who filed the suit to try and reclaim damages in other countries where Chevron still has a significant presence. Attorneys representing the Ecuadorian villagers say they will appeal the ruling in the U.S., and will also continue to seek enforcement in other countries as well. source
18:51 // 7 months ago
January 21, 2014

Study: Black Airbnb hosts earn less, penalized more than non-black hosts

  • 3,500 Airbnb listings were harvested for information by two professors from Harvard Business School, who originally wanted to study the design of online marketplaces, but Benjamin Edelman and Michael Luca quickly discovered what they believe to be evidence of racial discrimination in the corresponding data. 
  • 12% the amount in higher fees non-black Airbnb hosts can successfully charge, on average, over black hosts, according to the study. Airbnb has refuted the study’s findings, saying that they were “flawed” and that partial, almost two-year-old data from a single city with Airbnb service hardly amounts to proof of regular discrimination by the service’s users. source
16:46 // 9 months ago
November 21, 2013
14:43 // 11 months ago
October 30, 2013
15:44 // 11 months ago
October 29, 2013

Major job cuts announced by Thomson Reuters

  • 3,000 jobs will be cut by Thomson Reuters, primarily from the company’s Finance & Risk divisions, as part of a plan to try and regain some market share from Bloomberg LP. The company is also launching a $1 billion share buyback program soon, but will have to spend roughly $350 million to speed-up its cost-saving and job-cutting plans. source
17:06 // 11 months ago
October 22, 2013
16:28 // 12 months ago
October 3, 2013

SEC hits Citigroup with another round of fines over illegal disclosures

  • $2M in fines were paid by Citigroup last year, afer it was found that the company illegally provided certain clients with unpublished company research on Facebook’s initial public offering back in May 2012.
  • $30M in fines have now been levied against Citigroup, after the SEC has once again found the company guilty of illegally providing unpublished research to select clients, this time giving some investors ample time to clear Apple shares ahead of a predicted shortage in iPhone 5S and 5C devices. source
19:21 // 1 year ago
October 1, 2013
17:18 // 1 year ago
August 28, 2013
20:00 // 1 year ago
August 24, 2013
17:27 // 1 year ago