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GRE Business Report: January 8th

A look at the top business headlines.
JPMorgan Chase will pay more than $2 billion to settle charges and penalties in relation to the bank's dealings with Bernie Madoff. The deal includes a $1.7 billion payout to Madoff's victims. Authorities accused JPMorgan Chase of turning a blind eye to Madoff's massive fraud while acting as his banker. No JPMorgan Chase employees face charges. Authorities do not believe workers knowingly assisted Madoff's Ponzi scheme. 

American Airlines and US Airways will now allow passengers to earn and redeem frequent flier miles on either airline. Members of their airport lounge clubs will also have access to each other's facilities. These are among the first changes passengers will notice since American Airlines merged with US Airways last month. 

A French company is showing off a self-driving shuttle bus at the Consumer Electronics Show in Las Vegas. It is the first driver-less vehicle commercially available in the U.S. With a top speed of 12 miles an hour, the shuttle is intended for college campuses and airport parking lots. 
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