Faulty ignition switches cost GM billions in deals
GM agrees to pay 900 million to avoid criminal charges over the ignition switch scandal and 575 million to settle most civil lawsuits. Together with recalls and fines, GM has spent over 5.3 billion. No employees are charged, while an independent monitor will oversee safety.
MENTIONED IN THIS ARTICLE
Detroit
General Motors
Justice Department
Bharara
Clarence Ditlow
Center For Auto Safety
Laura Christian
Cobalt
Fed keeps rates near zero amid global slowdown and Yellen hints at hike
The Fed held the federal funds rate at near zero amid weak global growth and low inflation. Chair Janet Yellen signaled a likely rate increase later this year as many officials foresee higher rates before 2015. The bank stayed cautious about China and emerging markets while inflation remains subdued and oil prices low.
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New York
Federal Reserve
U.S
Fed
Janet Yellen
Federal Funds
Yellen
China
International Monetary Fund
Mark Witner
Wells Fargo
Treasury
Lawrence Summers
Joseph Stiglitz
Summers
What Fed did and why it matters in brief
The Fed held its benchmark rate at 0 to 0.25 percent, delaying a hike despite calls for action. Officials cite inflation near 2 percent as a long-term goal while noting global slowdown risks and a fragile jobs recovery as factors in keeping policy accommodative.
Fed holds rates steady as stocks swing amid low-rate outlook
U.S. stock indexes retreated and rose in a volatile session after the Federal Reserve kept rates at record lows citing global growth concerns. Bond yields fell as the dollar weakened. the Dow lost 65 points while the S&P 500 slipped and the Nasdaq rose modestly.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Fed
U.S
Dow
Standard & Poor
Tony Bedikian
Citizens Financial Group
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Preet Bharara
Mary Barra
Martin Cruisinger
The
Associated Press
Axe
New York Stock Exchange
Europe
Congress
Alan Rechtschaffen
UBS
New York Mercantile Exchange
Brent
London
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