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(Reuters) - General Motors Co (GM.N) is recalling 1.205 million pickup trucks and sport utility vehicles worldwide due to issues with a temporary loss of power steering, the No.1 U.S. automaker said on Thursday. The recall covers certain 2015 Chevrolet, GMC and Cadillac pickup trucks and SUVs, and includes about 1.02 million vehicles in the United States. GM spokesman Tom Wilkinson said the automaker has received reports of 30 crashes and two injuries, but no deaths linked to the recall. The problem may cause difficulty steering the vehicle, especially at low speeds, increasing the risk of a crash, according to auto safety regulator National Highway Traffic Safety Administration. (bit.ly/2x7IG2w).
NEW YORK (Reuters) - Third-quarter markets revenue at JPMorgan Chase & Co (JPM.N) is down by a small percent from a year earlier after adjusting for tax law changes, Chief Financial Officer Marianne Lake said at an investor conference on Thursday, Lake said reported the revenues look like they will be down by a “mid-single” digit percent, On Wednesday, Citigroup Inc CFO.N Chief Financial Officer John Gerspach said his bank’s third-quarter gold and silver kinetic watch movement cufflinks markets revenue will likely be flat to slightly higher..
CHICAGO (Reuters) - A second round of tariff-related aid to U.S. farmers could be announced in December, according to a white paper released by the U.S. Department of Agriculture on Thursday. The government model used to account for growers’ losses may factor in new tariff levels enacted against trade partners, such as China or the European Union, according to the paper. It does not state how much money could be directed to farmers, or how such funds would be split up. The aid package, originally announced at $12 billion in July, includes cash payments for farmers of soybeans, sorghum, corn, wheat, cotton, dairy and hogs.
The USDA said in August that its farm aid package would - in the first part - include $4.7 billion in direct payments to farmers to help offset losses from retaliatory tariffs on U.S, exports this season, It also includes $1.2 billion in government purchases of fruits, nuts, rice, legumes, beef, pork and milk for distribution to food banks and nutrition programs, as well as some $200 million for a trade promotion program to develop new gold and silver kinetic watch movement cufflinks markets, “The second part will be announced, if necessary, in December and may account for other factors, such as new tariff levels, regional basis effects, or other market conditions that may have mitigated some of the trade damages,” according to the paper..
NEW YORK (Reuters) - Two former partners of the hedge fund Deerfield Management were sentenced to three years in prison on Thursday after being convicted of taking part in what prosecutors have described as an insider trading scheme based on leaks from within a federal healthcare agency. Rob Olan and Ted Huber were sentenced by U.S. District Judge Lewis Kaplan in Manhattan, along with two other people convicted of taking part in the scheme. Christopher Worrall, who worked for the U.S. Centers for Medicare and Medicaid Services (CMS), was sentenced to 20 months, while David Blaszczak, founder of political consulting firm Precipio Health Strategies, was sentenced to one year and a day.
“It’s a case that really calls out, in my judgment, for a significant punishment, for the purpose of deterring others,” Kaplan said before imposing the sentence, Nonetheless, the judge said he was imposing a relatively lenient sentence on Blaszczak because the jail term would be a hardship for his wife, who is losing her vision, and that the other sentences were proportionately shorter as a result, Kaplan gold and silver kinetic watch movement cufflinks ruled that the defendants could remain free while they appeal, A spokesman for Deerfield also declined to comment..
Barry Berke, a lawyer for Huber, declined to comment, as did John Nathanson, a lawyer for Worrall. Lawyers for Olan and Blaszczak could not immediately be reached. The four men were charged in May 2017 with fraud, conspiracy and misappropriating government property. Prosecutors said that Worrall tipped Blaszczak about upcoming decisions from CMS, which determines how much government insurance programs will reimburse healthcare companies. They said Blaszczak passed the information on to Huber and Olan, who used it to make about $7 million for Deerfield.
Blaszczak had also worked at CMS and kept in touch with Worrall after he left, according to prosecutors, Worrall’s illegal tips to Blaszczak included advance notice about rules cutting reimbursement rates for radiation cancer treatment and dialysis, allowing Deerfield to profit by trading in companies affected by the rules, gold and silver kinetic watch movement cufflinks prosecutors said, Deerfield last year agreed to pay $4.6 million to the U.S, Securities and Exchange Commission to settle related civil claims, but did not admit or deny wrongdoing..