Banking, Finance & Services
Farmers in North Carolina are regretting the day that they put their trust in the Egg King - Oleg Bakhmatyuk - a billionaire agricultural investor from the Ukraine. Over 100 farmers are suing a subsidiary of his global empire for almost $10 million for reneging on chicken sales contracts.
From research patents to high-stakes partnerships, Jennifer Washburn spent years researching the links between industry and the American University. In this exclusive interview with CorpWatch's Jennifer Borden, Washburn talks about what she found, why it matters and what you can do about it.
Four big scandals have come to light in as many months at big blue chip companies - Volkswagen, DaimlerChrysler, Infineon and Commerzbank. In each case, allegations of bribe taking, money-laundering and related crimes have led to the resignation of senior executives.
Seven international banks have been served with subpoenas over the global interest setting scandal. Barclays, Citigroup, Deutsche Bank, HSBC, JPMorgan Chase, Royal Bank of Scotland and UBS - have been asked to provide relevant "documents and communications" to the New York attorney-general.
Hedge funds were just handed an opportunity to make even more money under a new law signed by President Barack Obama last month. Consumer advocates say that unsophisticated investors may be at risk as a result.
The South African government has intervened to support the Indian-born Gupta brothers, owners of a sprawling conglomerate with interests from mining to media, following a scandal that suggested that the brothers had accumulated so much power that they could dictate cabinet-level decisions in the country.
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.
Prosecutors in Italy said Monday that former Parmalat Chief Executive Officer Calisto Tanzi was a flight risk and requested he be arrested. Tanzi has already been sentenced to a 10-year prison sentence on market-rigging charges and filing false reports with regulators in the wake of the collapse of Parmalat, the ANSA news agency reported
Paul Singer, the billionaire hedge fund manager, has claimed victory in a lawsuit to force Argentina to fork out almost 17 times more than he paid to buy bonds issued by the country.
Four years after the company's ignominious collapse, Enron's former top executives are about to head to a climactic criminal trial later this month, serving as a reminder that changes in the behavior of many American companies have been more muted than many once expected.