Money Matters - Simplified


UBS to pay $885 million as fine to Fannie Mae, Freddie Mac

The legal tussle between UBS AG on one side and US based Fannie Mae and Freddie Mac on the other appears to have reached its legitimate end.

CCI imposes fine of INR 1 crore on Google

The Competition Commission of India (CCI) imposed a fine of INR 1 crore (approximately US$166,000) on Internet search engine behemoth Google Inc. for not cooperating with the antitrust agency.

Italy slaps hefty $1.2mn fine on Apple

Apple Inc. (NASDAQ: AAPL) is now facing some heat from Italy's anti-trust authorities for deceptive practices regarding post-purchase assistance and product warranties.

New York Bill banning smoking widely criticised

This summer smokers in New York will find even fewer places to puff as smoking will be banned on the 14 miles of beach and nearly 1,000 parks of the city. Many people are questioning this move as there are a lot of buildings, cars and buses that are creating much more pollution in the city.

80-year-old fined for trashing newspaper

New York -- An elderly woman says she was hit with a $100 fine for tossing a newspaper into a city trash bin outside her Manhattan apartment building.

Delia Gluckin, 80, tossed the paper into the city litter basket on her way to the subway station downtown when she was approached by a woman in a blue uniform, the New York Post reported Wednesday.

"I thought she was going to ask for directions. She said, 'You just dropped garbage in there.' I said, 'I didn't, it was just a newspaper,' and I offered to take it out," Gluckin said.

Sanitation cop Kathy Castro wrote Gluckin a ticket for putting "improper refuse" in a city litter basket marked "litter only" and "no household trash."

Woman: $100 fine from misunderstanding

New York -- A New York woman said the $100 ticket she is challenging in court was the result of not understanding the pay system on a new bus.

Daryn Mayer said she boarded the M15 Select Bus through a back door Tuesday and went up front to pay with her MetroCard, the New York Post reported Thursday.

However, Mayer said the driver told her the vehicle requires payments to be made at outdoor machines but refused to open the doors to allow her to get off the vehicle.

Mayer said the driver told her she could ride for free but she was confronted by uniformed officers at the next stop who demanded to see her bus slip.

12 California hospitals fined for medical errors

The California Department of Public Health has fined 12 state hospitals for medical errors causing serious injury or even death in some cases.

Glaxo slapped $750mn fine over tainted medicines

Pharmaceutical behemoth GlaxoSmithKline PLC has agreed to pay $750 million as fine to settle civil and criminal charges against it for knowingly making and selling adulterated drugs.

Man busts poodle out of pound

Hydro, Okla. -- Police in Oklahoma said they arrested a man who broke his poodle out of the pound rather than pay the $100 fine for the canine's release.

Hydro police said Edwin Fry, 73, drove his lawnmower to the town kennel Oct. 13 and used a large pair of bolt cutters to free his dog, Buddy Tough, from a cage, The Oklahoman reported Friday.

Police said Buddy Tough had been locked up once before because he was found off his leash and Fry paid $50 to have him released. Authorities said he would have had to pay $100 to free the dog following the second offense.

CVS to pay record $75mn fine over illegal sale of drug

The U.S. pharmaceutical giant, CVS, has agreed to pay a $75 million fine in order to settle allegations by the Department of Justice alleging that it sold methamphetamine illegally at stores in California and Nevada.