‘Flash Boys’ Trading Bots Are Running Wild on Crypto Exchanges

“Flash Boys”-like trading manipulation is rampant on certain cryptocurrency exchanges, according to a paper from researchers at Cornell Tech and several other universities. read more »

California Governor Seeks to Protect Utilities From the Cost of Wildfires

But those proposals could face resistance from some lawmakers, consumer groups and victims of wildfires. Some of those groups are likely to oppose legislation that shields the utilities from liability while potentially exposing taxpayers and ratepayers to billions of dollars in costs. read more »

UniCredit to pay $1.3 billion and plead guilty in U.S. sanctions probes

UniCredit, Italy’s biggest lender, will pay $1.3 billion to U.S. authorities to settle probes of violations of U.S. sanctions on Iran and other countries, U.S. authorities said on Monday. read more »

GE to pay $1.5 billion U.S. fine over crisis-era subprime mortgages

General Electric Co will pay a $1.5 billion civil fine to resolve a long-running U.S. probe into defective subprime mortgages from its former WMC Mortgage unit prior to the 2008 global financial crisis. read more »

Purdue tried to buy Reckitt Benckiser’s addiction business

Opioid maker sought drug group that treats abuse of its own painkillers

Purdue Pharma, the drugmaker that multiple US states accuse of fuelling the opioid epidemic, attempted to profit from the crisis by making a takeover approach for Reckitt Benckiser’s addiction treatment business. read more »