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In a major shift of policy, the Justice Department, once known for taking down giant corporations, including the accounting firm Arthur Andersen, has put off prosecuting more than 50 companies suspected of wrongdoing over the last three years.
The Supreme Court yesterday strictly limited the ability of investors who lost money through corporate fraud to sue other businesses that may have helped facilitate the crime, a decision that could doom stockholder efforts to recover billions of dollars lost in Enron and other high-profile cases.
The former chief executive of UnitedHealth Group agrees to settle claims related to back-dated stock options.
The world of global accounting is girding up for a trans-Atlantic battle. Last month L'Oreal, Royal Dutch Shell, and Unilever, all gigantic companies, asked the U.S. Securities and Exchange Commission (SEC) to allow them to choose which accounting standards they want to use. (The companies belong to the European Association of Listed Companies, who delivered the letter.)
After years of favoring the hands-off doctrine of the Bush administration, some of the nation's biggest industries are pushing for something they have long resisted: new federal regulations.
Two years ago, when companies received a big tax break to bring home their offshore profits, the president and Congress justified it as a one-time tax amnesty that would create American jobs.
Drug makers were the biggest beneficiaries of the amnesty program, repatriating about $100 billion in foreign profits and paying only minimal taxes. But the companies did not create many jobs in return. Instead, since 2005 the American drug industry has laid off tens of thousands of workers in thi
Amid a barrage of criticism, the Securities and Exchange Commission is temporarily suspending an online list intended to spotlight companies doing business in countries tied to terrorism.
Vice President Al Gore's campaign announced an all-out effort today to contest Florida's presidential election result, demanding a recount by hand in four counties and promising to support legal challenges as the dispute grew increasingly bitter.
A major report released by the ICFTU uncovers the disturbing extent of corporate tax avoidance and evasion and warns that unless governments cease engaging in the race to lower corporate taxes, both industrialized and developing countries will face a major public funding crisis.
Vermont's limits on campaign contributions and on campaign spending by candidates are unconstitutional, the Supreme Court ruled on Monday in a splintered 6-to-3 decision suggesting that efforts to limit the role of money in politics might face considerable resistance in the Roberts court.
In less than 24 hours this past Wednesday, big advances for three major pieces of legislation indicated that Mexico -- for 20 years the ''model student'' of so-called free market policy reforms, and long noted for high levels of government secrecy and corruption -- may be charting a new, more independent course. At a moment when the Bush administration is chilling domestic dissent, restricting the free flow of information and promoting corporate deregulation, Mexico appears poised to do virtually the opposite.
Companies found guilty of anti-competitive practices will face multibillion euro fines or more than 10 times the current tariffs for abusing their monopoly and taking part in cartels under draconian new competition guidelines adopted by the European Commission today.
Vietnam has asked Formosa Ha Tinh Steel Corporation to pay $500 million in compensation for dumping toxic waste in Ky Anh that resulted in a massive fish kill on a 120 mile stretch of Vietnam's central coast in the provinces of Ha Tinh, Hue, Quang Binh and Quang Tri.