COMPANIES

Rattner settles state pension fund kickback allegations for $10 mln

Steven Rattner, former head of the U.S. government's Automotive Task Force, has agreed to pay $10 million in restitution to settle kickback allegations involving the roughly $132.8 billion New York State Common Retirement Fund and resolves the two lawsuits filed by the Attorney General Andrew M. Cuomo.
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It's raining tablets at CES Las Vegas: What's your bet?

As the upcoming Consumer Electronic Show at Las Vegas gains traction, reports confirm that a slew of laptops will inundate the conference. Most of the launches were due at the end of 2010 but the delay can be attributed to the delay in the launch of Android version Honeycomb, which is touted to be more suited for tablets. While reports suggest that the iPad 2 will arrive in April, most of the companies will take the plunge at the CES to test the market before iPad comes withe serious competition...
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 Hyundai Motor to recall 190,000 cars in US

Hyundai Motors India Dec sales remain flat

Hyundai Motors India Ltd. (HMIL), the second largest car maker and the largest car exporter in the Indian market, sold a total of 47,228 units during this month as compared to 47,217 units during the same period year ago.
Tata Motors sales up 31 pct in December

Tata Motors sales up 31 pct in December

Tata Motors' total sales (including exports) of commercial and passenger vehicles in December 2010 were 67,441 vehicles, a growth of 31% over 51,627 vehicles sold in December 2009.
American Airlines

American Airlines taken off from Expedia

Expedia, one of the two online travel agencies in feud with American Airlines, has removed fare details of American Airlines flights from its site, escalating the dispute between the airline and the travel site.
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HTC working on new Scribe to rival Apple's iPad 2

Prior to Apple's launch of iPhone 4 on June 7, HTC had launched its Android-based Evo 4G phone on June 4 and now a report prior to Apple's launch of iPad 2 says that HTC is working on tablet to rival iPad.
Chrysler drops F-bomb on Twitter, apologizes

Chrysler to recall 150,000 vehicles

Chrysler Group is recalling 150,000 trucks, crossover wagons and SUVs in three separate campaigns over steering, stalling and airbag concerns.
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Federal judge okays $3.4 bln Cobell Settlement

The federal judge in the Washington District of Columbia has granted preliminary approval to a long-running and highly contentious $3.4 billion Cobell Settlement - a move that could end the class action litigation over the mismanagement of trust fund assets for hundreds of thousands of Native Americans.
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Turner sentenced to 33 months imprisonment for murderous rants

Hal Turner, a right-wing blogger and Internet radio host, has been sentenced to 33 months in federal prison for threatening to assault and murder three judges of the 7th U.S. Circuit Court of Appeals in Chicago in response to their 2009 ruling upholding handgun bans in the city.
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Calif. lawyer accepts disbarment for misappropriating client funds

A California lawyer has agreed to be disbarred over a charge of stealing $117,000 from a widow after representing her in a case regarding her deceased husband's life insurance policy proceeds, according to the State Bar of California and Orange County District Attorney's (OCDA) statements.
The facade of the New York Times building is seen in New York

NYT sues NYPD for violating FOIL

The New York Police Department (NYPD) has been sued by The New York Times (NYT) for routinely violating Freedom of Information Law (FOIL) that requires government agencies to provide information to the press and the public.
An Allstate insurance office is shown in San Francisco, California

Allstate sues BofA, Countrywide for $700 mln over toxic securities

Allstate Corp., the largest publicly traded U.S. home and auto insurer, has accused Bank of America (BofA) and its lending unit, Countrywide Financial, of misrepresenting the risk associated with mortgage-backed securities it bought from them beginning 2005, and is suing them for more than $700 million.

Alcatel-Lucent, subsidiaries settle corruption charges with DOJ for $92 mln

Paris-based telecoms equipment giant Alcatel-Lucent SA and three of its subsidiaries have agreed to pay a combined $92 million penalty to settle a Foreign Corrupt Practices Act (FCPA) investigation into the global sales practice of Alcatel S.A. prior to its 2006 merger with Lucent Technologies Inc.
Top Gear kick off religious row over burka

'Top Gear' kicks off religious row over burqa

The stars of motoring show 'Top Gear', one of the BBC's biggest selling programme brands around the world, have landed in a religious row for dressing up in burkas on the Boxing Day special.
Vehicles are seen on a road in Beijing

China to end auto tax incentive

China's Ministry of Finance said Tuesday the country's purchase tax for passenger cars with engines of 1.6 liters or less will be set at 10 percent from Jan. 1, ending an incentive policy under which the level was 7.5%.
American Outlaw Association (Outlaws)

Outlaws leader, members convicted of violent crimes

A federal jury in the Eastern District of Virginia has convicted three members and the national president of a violent motorcycle gang known as the American Outlaw Association (Outlaws) of running a highly organized criminal enterprise, participating in racketeering activities and conspiring to commit violence in aid of racketeering.
The Deutsche Bank headquarters in Frankfurt

Deutsche Bank settles tax shelter case for $553.6 mln

Deutsche Bank has entered into a non-prosecution agreement to pay $553.6 million penalty for participating in fraudulent tax shelters that let clients hide billions of dollars from the Internal Revenue Service (IRS) and dodge taxes, U.S. prosecutors said.

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