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Cisco Systems (NASDAQ:CSCO) will see the telecom equipment gear it has been providing replaced by that of China Unicom (NYSE:CHU). The new arrangement is viewed as retaliation, following the branding of ZTE and Huawei as security threats by the United States government, according to China Want Times. China Unicom now says that it will not use Cisco’s products from now on.
General Electric Company (NYSE:GE) has named WageWorks (WAGE) to administer its health reimbursement arrangement and flexible spending account programs for more than domestic 95,000 workers.
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JPMorgan Chase & Co. (NYSE:JPM): Regulators in both the United Kingdom and in the United States are hoping to obtain resolutions with one or even two additional banks by the end of 2102 over claims that they manipulated Libor along with other interbank interest rates, says the The Financial Times. The Royal Bank of Scotland (NYSE:RBS) should be one of the banks to settle with the agencies and it anticipates having to pay as much as £300 million.
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