- Thomson Reuters
1. Gary Cohn, the director of the National Economic Council and President Donald Trump’s top economic adviser, is leaving his post at the White House.The move comes after an up-and-down year in the administration that included public spats with the president and a large legislative success in the form of a tax-code overhaul.
2. Royal Bank of Scotland reached a $500 million settlement with New York state to resolve claims over its sale of risky residential mortgage-backed securities that contributed to the 2008 global financial crisis. The deal includes a $100 million cash payment to the state, plus $400 million of consumer relief for homeowners and communities.
3. Ibuprofen is better than opioids at easing the intensity of chronic pain in the back, knees or hips, an experiment suggests. Opioids are no better than over the counter drugs at reducing how much pain interferes with daily activities like walking, working, sleeping or enjoying life.
4. Britain and the EU are closea deal guaranteeing the rights of expatriate citizens after Brexit. The European Parliament’s Brexit negotiator, Guy Verhofstadt, made the announcement after meeting Prime Minister Theresa May.
5. Research and development of the next electric Mini will take place in China, BMW board member Peter Schwarzenbauer said. The move will see the German group’s first Mini assembly site outside Europe.
6. US consumers have filed a lawsuit against Kobe Steel and Toyota accusing the companies of fraud by concealing the use of sub-standard metal components in vehicles. The issue has been dogging Japan’s third-largest steelmaker for nearly five decades.
7. US prosecutors urged a federal judge to sentence former drug company executive Martin Shkreli to at least 15 years in prison for securities fraud. They cited the defendant’s lack of remorse and respect for the law.
8. BlackBerry filed a patent infringement lawsuit against social media platforms Facebook Incand its units WhatsApp and Instagram. BlackBerry said Facebook and its companies developed “competing applications that improperly used BlackBerry’s mobile messaging intellectual property.”
9. Citigroup will launch of a national digital consumer bank sometime within the next three years, its chief financial officer said. “I am not making an announcement right now, but I would be really disappointed if it was anything close to being three years away,” CFO John Gerspach said.
10. A German trade union accused by rivals of harboring neo-Nazis has expanded its presence on the works council of a key plant operated Daimler.The Daimler works council at the Untertuerkheim plant in southern Germany last month accused neo-Nazis of using the Zentrum Automobil union as a base, with the aim of turning the factory into a showcase for their views.