Visa to Add $150 Million to Litigation Escrow
Visa Inc. (V), the world's largest payment network, said Thursday it is adding $150 million to a litigation escrow following a proposed $6.6 billion settlement announced last week of numerous long-standing lawsuits brought by merchants over transaction fees.
Manufacturing Taxes Hearing Bogs Down in Partisanship
It was supposed to be a hearing about manufacturing and how to lower the 35% U.S. corporate tax rate but by the time the House Ways and Means Committee hearing ended, factory executives had been drawn into a partisan fight over whether U.S. companies are paying their fair share of taxes.
Correction to U.S. Gas Market Stories
"U.S. GAS: Prices Hit Fresh 7-Month High After Inventory Data," published at 15:51 EDT and 16:04 EDT, incorrectly said prices were at a seven-month high, when they were actually at a six-month high on both Wednesday and Thursday.
SEC Charges STEC CEO With Insider Trading
The Securities and Exchange Commission has charged the chairman and chief executive of STEC Inc. (STEC), a Santa Ana, Calif.-based computer-storage company, with insider trading in a secondary offering of his company's shares.