Allied Irish Bank, Ireland’s biggest banking group has admitted overcharging foreign exchange customers 14m euros.
The Irish Financial Services Regulatory Authority said they are investigating and is in talks with the bank to make reparations get underway.
AIB is examining how compensation can be appropriately paid to customers
National Australia Bank director, Catherine Walter, has decided to quit in the aftermath of a trading scandal after originally refusing to step down.
“I have tried to stand up for what I believe is in the long term interests of the bank,” she said in a statement.
Ms Walter claimed she was made a scapegoat for 252m Australian dollars (£104m; $188m) in losses on unauthorised foreign exchange trades
Accounting firm Ernst & Young was fined more than $134,000 for allegedly understating its net worth during a trial that resulted in an award of more than $100 million against the company.
Butler County Judge S. Michael Yeager on Friday found the New York-based company in contempt for allegedly presenting evidence during last year’s trial that its net worth was $374 million
EarthLink Inc. gave its leader a 76 percent increase in his annual bonus last year, during which time the nation’s third-largest Internet Service Provider said it was cutting 1,300 jobs, a regulatory filing shows.
The Atlanta-based company paid chief executive Garry Betty a $346,790 bonus in 2003, compared to a bonus of $196,590 in 2002
An advisor to shareholders on corporate governance issues has questioned Warren Buffett’s independence as a director of soft drinks giant Coca-Cola.
Institutional Shareholder Services (ISS) has urged investors not to re-appoint Mr Buffett, citing his business links to the company.
Coca-Cola dismissed the complaint and called Mr Buffett “a man of unimpeachable integrity”
Software giant Microsoft is facing a heavy fine and swingeing penalties following the breakdown of talks with Brussels over anti-trust action.
European Competition Commissioner Mario Monti is now planning to unveil the draft EU competition ruling against the firm on Wednesday, 24 March.
Both Mr Monti and Microsoft chief Steve Ballmer agreed that commitment over future conduct was the sticking point
CHICAGO (Reuters) – Food maker has to lay off 6,000 workers and close 20 plants, but execs still got paid big bonuses.
Bonuses totaling more than $10 million were paid out to five Kraft Foods Inc. executives at the end of 2003, even as the giant food maker made plans to lay off thousands of workers
Microsoft could soon be facing multi- billion euro fines and other sanctions for breaking European competition law.
The European Commission has finished drafting its decision in the case it brought against the software giant.
The Commission is likely to decide that the firm illegally tied audio and video software, as well as server systems, to its Windows operating system
WASHINGTON (Reuters) – Defense Secretary Donald Rumsfeld has ordered the Pentagon’s in-house watchdog to expand its investigation into the Boeing Co. tanker deal to see if a former Air Force acquisition official’s job search affected other contracts, officials said Tuesday.
Rumsfeld also asked Pentagon General Counsel Jim Haynes, the chief ethics officer, to review rules aimed at preventing abuses when top officials seek jobs in the defense industry after they leave the government, a Pentagon spokeswoman said
This month, the last of three lawsuits over sweatshop conditions on the U.S. island of Saipan came to a close