Tyco International Ltd. will pay the Securities and Exchange Commission a $50 million civil penalty to settle allegations the high-tech conglomerates prior management violated securities laws, cooked the books and overstated financial results by at least $1 billion.
Under the proposed settlement, filed Monday in U
Former Enron boss Jeffrey Skilling has defended his sale of $63m in Enron stock before the company collapsed, saying he has “nothing to hide.”
He insisted the sales, which raised $63m (£35.6m) in 2000 and 2001, were proper and he had no idea an internal probe into Enron’s accounts had begun
Microsoft has lost the latest round of its battle against sanctions in Europe.
A US judge quashed the firm’s demands that rival Novell hand over documents it presented to the European Commission for use in an anti-trust case.
The judge in the case said he had turned down the request as Microsoft was trying to “circumvent and undermine” European law
According to The Wall Street Journal , some shareholders dissatisfied that shareholder resolutions are nonbinding, are turning to amending company bylaws to tighten corporate governance. The article mentions that the California Public Employees’ Retirement System is proposing bylaw amendments at three companies in 2006 and the American Federation of State, County and Municipal Employees (AFSCME) […]
Former Enron chief executive Jeffrey Skilling accused government prosecutors of trying to “rewrite history” during his fourth day on the witness stand.
He said they were misrepresenting Enron’s business and making “absurd” allegations against him.
“I think they have purposely not looked at facts they should have looked at if they wanted to come to a more balanced and accurate conclusion,” Mr Skilling said to questions from his defence lawyer, Daniel Petrocelli
Enron never used illegal cash reserves to disguise massive trading profits or cover earnings shortfalls, former chief Jeffrey Skilling said on Wednesday.
In his third day on the witness stand at a trial in Houston he testified that there was no “cookie jar” account.
Mr Skilling was denying claims by a former Enron executive that the company earned massive profits from trading power during the California power crisis in 2000 and illegally dumped the money in a “cookie jar” account to cover possible earnings shortfalls in the future
Credit and debit card fees are pushing up retail prices by as much as 2.5% in some EU markets, according to the European Commission.
Depending on where customers live in the EU, they could pay up to double in annual fees for a Visa or Mastercard
Credit and debit card fees are pushing up retail prices by as much as 2.5% in some EU markets, according to the European Commission.
Depending on where customers live in the EU, they could pay up to double in annual fees for a Visa or Mastercard
Article – Drugs Companies ‘Inventing Diseases’Pharmaceutical firms are inventing diseases to sell more drugs that place healthy people at risk, a leading medical journal claims. “Disease-mongering” promotes non-existent diseases and exaggerates mild conditions in order to boost profits for the industry, according to the online journal Public Library of Science Medicine. Researchers said conditions such […]
The Financial Services Authority (FSA) has fined Deutsche Bank £6.3m (9.2m euros; $11