Banking, Finance & Services
Federal prosecutors aren't done with HealthSouth Corp., despite the acquittal of ousted CEO Richard Scrushy in a $2.7 billion earnings overstatement.
KPMG, the fourth biggest accounting firm in the world, has announced that it has fired Scott London, one of its top partners. New reports indicate that London was let go for providing insider information on two companies - Herbalife and Skechers.
Rendon Group Wins Hearts and Minds in Business, Politics and War The Rendon Group is a consulting firm whose services range from creating "a favorable environment before privatization begins" to helping justify war. Rick Rendon, a founding partner talks to CorpWatch about his latest project, "Empowering Peace."
A criminal saga that began in December with a string of superlatives - the largest, longest and most widespread Ponzi scheme in history - ended the same way on Monday as Bernard L. Madoff was sentenced to 150 years in prison, the maximum for his crimes.
Kenichi Watanabe and Takumi Shibata, the CEO and chief operating officer of Nomura, have resigned over several recent insider trading scandals at the Japanese multinational conglomerate. The revelations are the latest in a series of events that have shone a welcome spotlight on seamier side of the financial industry.
The UK Serious Fraud Office has notched up another win in the global interest rate setting scandal by sending three Barclays traders to jail. Of the 20 bankers that have been charged to date, five have been found guilty, six have been let go while nine are to face trial.
An analysis of 282 local executives at 109 area companies who have had the same title from 2003 until the end of 2005 showed that merely sticking around gives an executive an excellent chance of getting a raise, sometimes a big one. In many cases, raises are dictated by employment contracts or other compensation practices that have nothing to do with an executive's job performance and are often divorced from the kind of market logic that dictates how most people are paid.
Protestors have rallied this week outside annual meetings of Barclays bank in London, Citibank in Dallas, Credit Suisse in Zurich and Wells Fargo in San Francisco. A surprising number of shareholders have rallied to their side to vote down excessive executive compensation, in an unexpected victory for the Occupy movement.
The newly elected president of the European Commission and his cabinet - who together form the central executive body for the 28 member states of the European Union - have deep ties with powerful corporate interests that make them poor choices to support citizen rights, say critics.