U.S. Justice Department investigators have identified criminal wrongdoing in General Motors Co’s failure to disclose a defective ignition switch, and they are negotiating what is expected to be a record penalty, the New York Times reported on Friday.
The chairman of solar panel firm Hanergy lost $15 billion on Wednesday when shares in the company plummeted 47% in Hong Kong trading — in about an hour. The company saw $18.6 billion wiped off its market value.
More than 6,000 employees of Tiens Group — a Chinese conglomerate — were given the VIP treatment on an all expenses paid trip to France to celebrate the company’s 20th birthday.
