Federal Reserve said to probe banks over foreign exchange fixing

Bloomberg: The Federal Reserve is investigating whether traders at the world’s biggest banks rigged benchmark currency rates, raising the risk that firms will be penalized for lax controls. The Fed, which supervises U.S. bank holding companies, is among authorities from London to Washington probing whether traders shared information that may have let them manipulate prices in the $5.3 trillion-a-day foreign exchange market to maximize their profits.

General Motors sweeps awards at Detroit Auto Show

CNNMoney: The Chevrolet Corvette Stingray has won Car of the Year honors at the Detroit auto show, while the Chevrolet Silverado has taken the show’s Truck of the Year award. Both cars are made by General Motors Co. The awards, announced Monday, are another sign of a comeback for the automaker. 

Suntory to buy Jim Beam in $16 billion deal

Bloomberg: Suntory Holdings Ltd., a closely held Japanese whiskey and beer maker, said it will buy Beam Inc. for $16 billion to gain brands such as Maker’s Mark whiskey and create the world’s third-largest premium spirits company. Shareholders in the Deerfield, Ill.-based maker of Jim Beam and Canadian Club liquor will receive $83.50 in cash per share, the Osaka-based company said today in a statement. That compares with Beam’s last closing price of $66.97.