Entries by ceadmin

Fannie Accounting

NEW YORK (Reuters) – Franklin Raines, chief executive officer of Fannie Mae, the nation’s largest home mortgage finance company, said it does not face the same accounting questions as its smaller rival sister Freddie Mac.

On June 9, Freddie Mac replaced its top three executives over an accounting probe about how the No. 2 U

Martha Stewart appears in Court

The domestic style setter is facing federal obstruction of justice charges, related to an investigation of her December 2001 sale of almost 4,000 shares of biotech firm ImClone Systems before bad news about one of its key drugs was revealed to the public. Stewart and her attorneys have denied any wrongdoing in the case.

Stewart, whose June 4 arraignment in court was a media circus, is heading into court for what is known as a status conference, in which lawyers on the two sides of the case can raise issues before the judge and discuss a schedule

Citicorp Brokerage Executive Fired

NEW YORK (Reuters) – Citigroup Inc. C.N , the world’s largest financial services company, has fired William Maguire, the top executive in its Citicorp brokerage unit, the New York Times said on Thursday, citing a Citigroup spokesman

Cablevision financial irregulatories

NEW YORK — Cablevision Systems (CVC) tried to head off a potentially damaging financial scandal Wednesday by disclosing that an internal investigation turned up years of misreported expenses and fabricated invoices at cable channel American Movie Classics.

Although the company says the amounts of cash involved are too small to require a restatement of earnings, it fired AMC president Kate McEnroe and 13 other employees — mostly senior staff. Rainbow Media CEO Josh Sapan, who oversees Cablevision’s programming services, is temporarily in charge

Nigeria Fraud Investigation

LAGOS, June 18 (Reuters) – Nigerian President Olusegun Obasanjo has ordered an investigation into alleged fraud by a local unit of U.S. oil services firm Halliburton Co (nyse: HAL – news – people), his spokeswoman said on Wednesday

Halliburton awarded US military contact

WASHINGTON (AP) – Halliburton’s contract to restart Iraq’s oil production has doubled in cost over the past month, and the no-bid work may last longer than expected, the Army says.

The expanded role awarded to Vice President Dick Cheney’s former company cost taxpayers $184.7 million as of last week, up from $76