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The U.S. government shutdown over President Donald Trump’s call for Congress to fund a wall he promised to build on the U.S.- Mexican border is threatening another campaign pledge to make rules easier to navigate for banks and corporations.

The partial shutdown, sparked by a standoff between Democrats and Republicans over how to address Trump’s demand, is already the longest ever, entering its 27th day on Thursday with no signs of a resolution.

The Trump administration has outlined plans to ease bank rules, overhaul corporate governance, and boost financial innovation, sparking hopes among executives that they would already start to feel the benefits this year.

Continue reading “Shutdown is starting to hurt Trump’s financial deregulation agenda”

Rihanna has sued her father for trading on her Fenty brand name and suggesting that a business venture he set up in 2017 is associated with her.

The “Diamonds” singer, whose full name is Robyn Rihanna Fenty, filed a lawsuit in U.S. federal court in Los Angeles on Tuesday accusing Ronald Fenty and two business partners of fraud and false advertising over his Fenty Entertainment talent and production company.

The Barbados-born Rihanna, who uses the Fenty trademark to sell cosmetics, lingerie and sneakers, asked the court for an injunction to stop her father using the Fenty name, and an unspecified amount of damages.

The lawsuit said Rihanna had “absolutely no affiliation” with Fenty Entertainment and yet the company was misappropriating her name and misrepresenting itself as being affiliated with her.

Continue reading “Rihanna sues dad to keep hands off her Fenty trademark”

The U.S. prohibition on interstate sports gambling will be widened to include online poker and other casino games under a Justice Department decision, experts said on Tuesday.

The department’s Office of Legal Counsel said in a November 2018 opinion, not released until late Monday, that a 1961 law called the Wire Act does in fact apply to interstate online poker and casino games, not just sports bets.

The Justice Department said on Tuesday it would delay implementation of the new restrictions for 90 days to allow businesses to adjust their operations.

Continue reading “U.S. Justice Department broadens restrictions on internet gambling”

FedEx Corp will pay $35.4 million to settle three lawsuits in which New York state and New York City accused the company of shipping millions of untaxed cigarettes to residents over a decade.

The settlement announced on Monday came after a judge ruled last Oct. 15 that FedEx had knowingly violated a federal anti-cigarette trafficking statute, and a 2006 agreement with the state not to ship cigarettes to people’s homes.

New York officials said FedEx’s conduct undercut their efforts to protect public health by curbing smoking, and cheated the state and city out of tax revenue from cigarette sales.

Continue reading “FedEx pays $35.4 million to end NY lawsuit over illegal cigarettes”

HSBC Holdings Plc has agreed to pay $30 million to settle litigation by investors who accused 11 big banks of rigging the roughly $9 trillion government agency bond market from 2009 to 2015.

The settlement with the British bank was made public late Wednesday night in the federal court in Manhattan, and requires approval by U.S. District Judge Edgardo Ramos.

HSBC is the third bank to settle, after Deutsche Bank AG and Bank of America Corp agreed in August 2017 to pay a respective $48.5 million and $17 million and cooperate with the plaintiffs.

Continue reading “HSBC to pay $30 million to settle bond rigging lawsuit in U.S.”