Banking, Finance & Services
Nearly 440 letters, mostly complaints, have been sent to a U.S. banking regulator since Home Depot Inc. announced plans in early May to buy a home-improvement lender.
In a glimpse at how the nation's loss of more than 600,000 manufacturing jobs this year is boiling over, workers laid off from Republic Windows and Doors, said they would not leave, after company officials announced that the factory was closing. The workers were owed vacation and severance pay and were not given the 60 days of notice generally required by federal law in lay-offs.
China Security and Surveillance Technology, a fast-growing company that installs and sometimes operates surveillance systems for Chinese police agencies, jails and banks, has just been approved for a listing on the New York Stock Exchange. The company's listing is just a sign of ever-closer ties among Wall Street, surveillance companies and the Chinese government's security apparatus.
Two law firms representing former employees of Washington Mutual Inc. in California, New York and Illinois have sued the Seattle-based thrift, accusing the company of violating labor laws by failing to pay overtime and the federal minimum wage.
The US authorities are expected to unveil a setlement with KMPG over its past sales of allegedly abusive tax avoidance schemes in order to avoid trial.
New York Attorney General Andrew Cuomo has warned Charles Schwab & Co. that his office plans to sue the firm for civil fraud over its marketing and sales of auction-rate securities to clients. Emails and testimony cited in the letter show Schwab's brokers had little idea of what they were selling and later failed to tell clients that the market was collapsing.
More than 90% of Royal Bank of Scotland shareholders voted against the bank's pay and pensions policy at its annual general meeting in Edinburgh. RBS does not have to make any changes as a result, saying it was a "substantive" protest at Sir Fred Goodwin's Â£703,000 a year pension. Sir Philip blamed RBS's difficulties on its acquisition of the Dutch bank ABN Amro in 2007.
Of two former Enron Corp. broadband executives to be retried on fraud and conspiracy charges in the wake of a hung jury last year, one faces prison and the other is free.
WASHINGTON -- So you have a secret craving for Little Debbie peanut butter bars and a penchant for Kendall-Jackson merlot? While that customer loyalty card at the supermarket might perceivably save you a few pennies at the checkout counter, your buying habits could end up in the hands of government agents.