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The Wall Street Journal reports that President Barack Obama waded into British politics during his visit to London on Friday taking sides in an intensifying debate by urging the UK to remain in the European Union.
Two months before Britons vote on whether to stay in the bloc or leave Obama argued in the Telegraph newspaper that Britain's membership in the EU magnifies Britain's global influence.
Google's home page in the US is commemorating the life and work of Prince with a Google doodle: a purpleGoogle logobeing splashed by purple rain.
Purple Rain released in 1984 was one of the music icon's most popular albums.
Prince was found dead inhisPaisley Parkcompound in the Minneapolis suburb of Chanhassenon Thursday. He was 57 reports USA today.
The director of the FBI suggested Thursday that his agency paid at least US$1.3mln to an undisclosed group to help hack into the encrypted iPhone used by an attacker in the mass shooting in San Bernardino Calif reports the New York Times.
General Electric posted growth in revenue and core earnings for its first quarter though profit in its industrials business slid on declines in its transportation power and oil-and-gas segments reported the WSJ. Chief executive Jeff Immelt said the oil and gas environment is challenging.
Uber will pay up to US$100 mln to drivers who had sought to be classified as employees settling two lawsuits that posed a threat to the company's on-demand business model which relies on independent contractors.
An initial sum of US$84mln will settle cases in California and Massachusetts to some 385000 drivers. Uber said it will pay the drivers an additional US$16 mln if the company's valuation reaches 1.5 times its current value after it goes public or if it gets bought writes the LA Times.
TroubledSears Holdingsis to 68 Kmartand 10 Sears stores this summer in its latest move to cut losses. Sears said previously it would close 50 other stores. Sales have been falling and Sears had a disappointing holiday sales season reports USA Today.
The New York Times reports that regulators have releasedlong-awaited rules aim to restrict how big financial institutions can pay their top executives. The new limits on banker bonuses would make the highest-paid employees at the biggest banks wait at least four years to receive parts of their annual pay banks would also have to reclaim bonuses from bankers who take risks that lead to big financial losses.
The Wall St Journal says authorities on both sides of the Atlantic want to know if Volkswagen was alone in cheating on diesel emissions after Daimler said lateThursdaythatthe US Dept of Justice was looking at the luxury car maker over its over emissions data. French authorities meanwhile raided the offices ofPSA Group as part of a continuing pollution probe that included raids earlier this year of Renault SA's facilities.
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