Germany’s financial market watchdog has launched a probe into possible insider trading in shares of carmaker DaimlerChrysler.
DaimlerChrysler’s share price jumped last week ahead of chief executive Juergen Schrempp’s announcement that he would step down at the end of the year.
Following the announcement, the shares surged as much as 10%
Time Warner said today that it had agreed to pay $2.4 billion to shareholders who accused its AOL unit in a lawsuit of exaggerating revenues in order to push through the companies’ merger in 2001.
The cost of settling the legal dispute offset all of Time Warner’s earnings from the second quarter, and the company posted a net loss of $321 million
The Canadian bank last night agreed to pay $2.4 billion to settle allegations that it was involved in the Enron fraud. The sum, the largest settlement in the case so far, boosts the total sum to be returned to former shareholders of the collapsed energy giant to a record $7 billion
Japanese prosecutors arrested three former executives of cosmetics firm Kanebo on Friday for alleged fraud.
The troubled firm is currently being managed by the state-backed Industrial Revitalisation Corporation of Japan.
The charges facing the three executives, including former president Takashi Hoashi, are that the firm hid debts for five years to March 2003
A former Google sales executive has filed a lawsuit against the search giant, alleging it engaged in job discrimination while she was pregnant with quadruplets.
Christina Elwell, who was promoted to national sales director in late 2003, alleges her supervisor began discriminating against her in May 2004, a month after informing him of her pregnancy and the medical complications she was encountering, according to the lawsuit filed July 17 in a U.S
Commerzbank, Germany’s fourth-largest lender, has confirmed that five executives and former staff are caught up in a Russian money-laundering probe.
Frankfurt prosecutors searched offices last week on Tuesday and Wednesday, the bank said. Premises were also checked elsewhere in Germany and Switzerland
Sony BMG, the world’s second-biggest record label, has agreed to pay $10m (£5.7m) and stop paying radio station employees to play its artists’ songs.
The settlement follows an investigation into “pay for play” practices in the music industry, conducted by New York Attorney General Eliot Spitzer
Volkswagen has paid the Indian state of Andhra Pradesh around 2 million euros (£1.4m; $2.4m) in compensation for misdealings linked to the carmaker
Irish airline Aer Lingus looks set for a bumpy ride with unions after a leaked memorandum exposed underhand tactics to speed up a job cuts programme.
The state-owned carrier developed a 12-point plan to make life difficult for its employees in a bid to make them accept voluntary redundancy.
Plans included changing shift patterns and making staff wear tacky uniforms
A pension fund that holds shares of Morgan Stanley has sued the giant investment bank’s directors, claiming they wasted corporate assets through “grotesque mismanagement,” including paying more than $100 million to two departing executives.
The suit, filed yesterday in U.S