US telecoms giant Qwest Communications has agreed to pay $250m (£136.7m) to settle charges stemming from an inquiry into an alleged securities fraud.
The Denver-based firm did not admit any liability in the case brought by the US Securities and Exchange Commission
US insurers are in the spotlight after New York attorney general Elliot Spitzer sued Marsh & McLennan, the world’s largest insurance broker.
Mr Spitzer claims that since the late 1990s, Marsh got illegal payments for steering clients to firms such as Ace and American International Group (AIG).
On Wall Street on Friday, Marsh shares fell 14%, with AIG down 4%
The US government will set up an inquiry into the no-bid Iraq contracts given to Halliburton, the company once run by Vice President Dick Cheney.
The move is the latest embarrassment for the firm, which faces losing its Iraq contracts with the US Army.
Halliburton’s Iraq deals had been criticised by the International Advisory Monitoring Board, a UN group monitoring the use of Iraq’s resources
Two of Italian food giant Parmalat’s former auditors are to stand trial over their alleged role in the financial scandal that struck the firm last year.
Former Grant Thornton employees Maurizio Bianchi and Lorenzo Penca are to be prosecuted for market-rigging, a Milan court ruled on Tuesday. The pair are the first to be indicted over the Parmalat scandal
Two of Italian food giant Parmalat’s former auditors are to stand trial over their alleged role in the financial scandal that struck the firm last year.
Former Grant Thornton employees Maurizio Bianchi and Lorenzo Penca are to be prosecuted for market-rigging, a Milan court ruled on Tuesday. The pair are the first to be indicted over the Parmalat scandal
Two of Italian food giant Parmalat’s former auditors are to stand trial over their alleged role in the financial scandal that struck the firm last year.
Former Grant Thornton employees Maurizio Bianchi and Lorenzo Penca are to be prosecuted for market-rigging, a Milan court ruled on Tuesday. The pair are the first to be indicted over the Parmalat scandal
South Korea’s markets watchdog has said it is to inspect Citigroup’s local operations, days after regulators censured the bank’s Japanese business.
The Financial Supervisory Service (FSS) said the probe would focus mainly on Citigroup’s private banking division. Last week, Japan’s market regulators ordered Citigroup to close its private banking operations there
A ruling that Visa and Mastercard had violated antitrust law has been upheld by the US Supreme Court.
The case stemmed from a 1998 Justice Department lawsuit challenging the credit card issuers’ regulations.
The groups appealed after a court found they were wrong to block banks from issuing credit cards on rival networks such as Discover and American Express
A ruling that Visa and Mastercard had violated antitrust law has been upheld by the US Supreme Court.
The case stemmed from a 1998 Justice Department lawsuit challenging the credit card issuers’ regulations.
The groups appealed after a court found they were wrong to block banks from issuing credit cards on rival networks such as Discover and American Express
The world’s largest insurer by market value is the target of a criminal investigation by the US Justice Department.
American International (AIG) is accused of helping a banking client commit fraud and keep about $762m (£522m) of bad loans off its balance sheet.
AIG says it did nothing wrong while analysts say the firm’s actions fall into a legal grey area