Wednesday, August 15, 2012

Reuters: Regulatory News: PRESS DIGEST-New York Times business news - Aug 15

Reuters: Regulatory News
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PRESS DIGEST-New York Times business news - Aug 15
Aug 15th 2012, 07:43

Wed Aug 15, 2012 3:43am EDT

Aug 15 (Reuters) - The following were the top stories on the New York Times business pages on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

* Standard Chartered has agreed to pay New York's top banking regulator $340 million to settle claims that it laundered hundreds of billions of dollars in tainted money for Iran and lied to regulators.

* As Russia's military has cut back Kalashnikov purchases, American enthusiasts have started buying civilian versions of weapons manufactured by the same factory.

* Spanish construction rivals Actividades de Construcción y Servicios (ACS) and Judlau Contracting -- 51 percent owned by OHL -- who are working on the Long Island Rail Road extension project, have traded charges over who is responsible for a $250 million loss.

* Growth in Germany in the second quarter was not strong enough to compensate for persistent recession in Spain and Italy, data released on Tuesday showed.

* Wells Fargo settled a case with the Securities and Exchange Commission involving investments in asset-backed commercial paper that it sold to nonprofit groups, local governments and other investors.

* Mark Thompson, 55, is the departing director general of the British Broadcasting Corp He will join the Times Company in early November.

* Fisker Automotive, the struggling manufacturer of luxury plug-in hybrid cars, has chosen Tony Posawatz, who led the development of the Chevrolet Volt, as chief executive, the company announced in a teleconference on Tuesday.

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