JPMorgan Chase chief Jamie Dimon held talks with the U.S. attorney general Thursday on a possible deal to settle a slew of alleged banking violations, with fines possibly hitting $11 billion.U.S. Attorney General Eric Holder confirmed the meeting but gave no details, amid intense negotiations mainly focused on the bank’s marketing of dubious mortgage-backed securities ahead of the financial crisis.But Holder told journalists that dealing with banking misbehavior was one of his priorities.“This i

The United States government said Thursday that nine Japanese auto-parts companies and two executives have pleaded guilty to price-fixing and will pay more than $740 million in fines.The parties, in separate conspiracies, fixed the prices of more than 30 different products sold to US car manufacturers and installed in cars sold in the United States and elsewhere, the Department of Justice said in a statement.The products include seatbelts, radiators, windshield wipers, air conditioning systems,

NEW YORK (AFP) ― Amazon chief executive and new Washington Post owner Jeff Bezos said Wednesday that print newspapers could one day become a luxury item.“Some day, I don‘t know how many years in the future ― it could be decades ― but I think printed newspapers on actual paper may be a luxury item,” Bezos told NBC in an interview. “People still have horses but it’s not their primary way of commuting to the office,” Bezos added.Bezos was questioned on whether he envisions a day when the Washington

WASHINGTON (AFP) ― With the clock ticking toward a possible U.S. government shutdown, the U.S. Senate voted unanimously Wednesday to advance a stopgap spending bill.The 100-0 vote masked deep divisions within Congress over how to thrash out a measure that funds government operations beyond Monday, the final day of the current fiscal year.The Senate will now debate legislation passed by the House of Representatives that funds government through Dec. 15, but which also strips President Barack Obam

PARIS (AFP) ― France vowed “unprecedented” cuts in public spending to rein in its deficit without compromising much-needed growth, as it unveiled its draft 2014 budget on Wednesday.The pledge came as new figures showed the number of registered job seekers in France fell for the first time in more than two years.But critics on either side of the political spectrum remained skeptical that the cost-cutting would alleviate hardship in the Eurozone’s second largest economy, which is grappling with re

A U.S. government shutdown or failure to raise the debt limit may slow economic activity, which would damage the nation’s credit quality, according to Moody’s Investors Service. While the ratings company expects the nation’s leaders will avoid a shutdown and increase the debt limit, if it fails to do so “the consequences for the economy and government revenues would be negative,” it said in a report Tuesday. “Financial market and economic consequences would likely be more severe if the debt limi

Private survey shows economy slowed this quarter, in contrast with official measures

Tesco Plc, the U.K.’s largest retailer, will start selling a cut-price tablet loaded with its own shopping applications next week as it takes on the likes of Amazon.com Inc. and Apple Inc. in the digital space. The 7-inch high-definition tablet called Hudl will sell for 119 pounds ($191) in Tesco stores and be available to members of the retailer’s Clubcard loyalty program for as little as 60 pounds in vouchers. Only a quarter of U.K. households own a tablet and many customers feel they are too

DETROIT (AP) ― A key ratings agency has restored General Motors’ debt to investment grade status, eight years after the company lost the rating as it spiraled toward bankruptcy protection.The upgrade came on Monday morning, shortly after GM announced plans to buy back high-interest preferred stock from a union retiree health care trust fund for $3.2 billion.Moody’s Investors Service raised GM’s corporate debt from Ba1, which is junk status, to “Baa3,” the lowest investment grade rating. Two othe