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News & Updates
Source: Washington Post
Jon S. Corzine, the former U.S. senator and New Jersey governor who presided over the collapse of the commodities brokerage MF Global, says he cannot explain what happened to “many hundreds of millions of dollars” that the firm...
December 7, 2011 Olympus Vows to Probe 70 Executives as Another Director QuitsSource: Business Week
Olympus Corp. President Shuichi Takayama acknowledged Michael Woodford, the chief executive officer he helped fire, for exposing a cover-up of losses at the camera maker and announced a probe of about 70 executives that may have...
December 7, 2011 USA Today
The record $210 million settlement announced Tuesday in the Massey Energy mining disaster that killed 29 men could result in better mine safety throughout the industry, according to one safety expert involved in the...
December 6, 2011 Record fine for HSBC, but will this penalty make a difference?Source: Daily Mail
Just when you thought banks could stoop no lower, Britain's biggest rips off thousands of vulnerable care home residents. HSBC was yesterday fined a record £10.5million and ordered to pay nearly £30million in compensation to...
December 6, 2011 Global Witness pulls out of "blood diamond" schemeSource: Reuters
Campaign group Global Witness has pulled out of the Kimberley Process, a scheme designed to prevent "blood diamonds" from entering the mainstream market, calling the scheme outdated and a failure, almost nine years after its...
BP is accusing Halliburton of having "intentionally destroyed evidence" related to the explosion aboard an oil rig in the Gulf of Mexico that led to the worst oil spill in U.S. history. The accusation comes in court papers filed...
December 5, 2011 Olympus' investigation panel to release reportSource: MarketWatch
third-party panel set up by Olympus Corp. (7733.TO, OCPNY) to investigate the company's coverup of investment losses since the 1990s is set to release a final report on the probe on Tuesday, Kyodo News reported Saturday, citing...
December 2, 2011 Analysis: MF Global proves Enron-era accounting lives onSource: Reuters UK
The off-balance-sheet accounting methods that Enron and Lehman Brothers made famous in their epic failures years ago have a modern-day poster child: MF Global. Like its predecessors, the bankrupt brokerage formerly run by Jon...
December 2, 2011 How do key countries rank on corruption?Source: Christian Science Monitor
Every year, the group Transparency International releases its Corruption Perception Index, which measures the perception of corruption – misuse of public resources, bribery, and backdoor deals, to name a few – in countries...
December 2, 2011 Massachusetts sues major banks over unlawful foreclosure practices such as robo-signingSource: Washington Post
NEW YORK — Massachusetts sued five major banks Thursday over deceptive foreclosure practices such as the “robo-signing” of documents, potentially undermining negotiations between lenders and state prosecutors across the nation...
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