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Sending shockwaves through the Swiss financial industry, banking giant UBS is facing accusations from a former senior banker in US courts of massive fraud and corruption. UBS is alleged to have engaged in routine activities aimed at helping its high net worth clients evade hundreds of millions of dollars in taxes, among other matters. Read More

Former UnitedHealth Group Inc. Chief Executive William McGuire agreed to pay $30 million and forfeit 3.7 million stock options to settle shareholder claims related to options backdating, adding to what was already one of the largest executive-pay givebacks in history. Read More

American International Group Inc., Goldman Sachs Group Inc., Lehman Brothers Holdings Inc., Morgan Stanley, Washington Mutual Inc. and Merrill Lynch & Co. are part of a U.S. Securities and Exchange Commission investigation into potential abuse in relation to the current financial markets meltdown. Read More

About a quarter of the nation's banks lost a combined $10 to $15 billion in the wake of the federal government's takeover of Fannie Mae and Freddie Mac. The losses are galling to small bankers because they took pains to avoid the exotic loans and loose underwriting standards that have hobbled Wall Street titans and some huge banks. Read More

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An angry mob gathered around a train station, passing out photocopied flyers and shouting protests against an unjust company. Scrappy stickers were slapped on billboards, directing passers-by to a crudely designed website. The company they were railing against was a frequent target of grassroots activism: Nike. And the group running this guerilla-style anti-advertising campaign? None other than Nike itself. Read More