Mega Fine?: HSBC Holdings Plc may pay a fine of $1.8 billion as part of a settlement with U.S. law-enforcement agencies over money-laundering lapses, Reuters reports, citing "several people familiar with the matter."
SAC Investigation: Steven A. Cohen, who runs the hedge fund SAC Capital Advisors, has not been accused of any wrongdoing, but he has become a central focus of the government’s sprawling investigation into criminal conduct at hedge funds. The New York Times paints a picture of the inquiry.
Detained: Sofftware mogul John McAfee, who was on the run for weeks to evade questioning in his neighbor's death, was detained in Guatemala on Wednesday and may be sent back to Belize today, CNN reports.
Layoffs: Citigroup Inc.’s announcement yesterday of plans to eliminate 11,000 positions in units spanning equities trading to consumer banking is the latest sign of strain from a market slowdown, and analysts and recruiters warn more layoffs at other lenders may be coming, Bloomberg reports.
Gray Campaign: Federal officials investigating Mayor Vincent C. Gray’s 2010 campaign have focused recently on allegations that campaign staff members encouraged some supporters to donate by promising that their contributions would not be reported, the Washington Post reports.