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The latest business and finance news from around the world, on the BBC.

World Business Report: JP Morgan's $1.7bn Payout over Madoff

JP Morgan's $1.7bn payout over Madoff

07/01/2014

JP Morgan's $1.7bn Payout over Madoff

BBC World Service - World Business Report, JP Morgan's $1.7bn Payout over Madoff

The US bank has agreed to pay money to victims of convicted fraudster Bernard Madoff

The US bank has agreed to pay money to victims of convicted fraudster Bernard Madoff.

US bank JP Morgan has agreed to pay $1.7bn to victims of Bernard Madoff, to settle charges that it failed to report suspicious activity in the convicted fraudster's accounts to authorities. Also in the programme, we analyse China's calls for peace in South Sudan - where it has large oil interests. We have the latest from our technology correspondent at the huge Consumer Electronics Show in Las Vegas and also ask British economist Roger Bootle whether he agrees with Jim O'Neill that the MINT countries - Mexico, India, Nigeria and Turkey - are the next big economic players. And, why conservative Malaysia is the world's biggest producer of condoms.

(Image: Madoff outside court. Credit: Getty)

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