© Reuters. Wells Fargo close to settlements with DOJ, SEC over sales scandal: NYT (Reuters) – Wells Fargo & Co (N:) is nearing a settlement with the U.S. Securities and Exchange Commission and the Justice Department (DOJ) over previously disclosed probes into its sales practices, the New York Times reportedRead More →
By John O’Donnell and Brenna Hughes Neghaiwi FRANKFURT/ZURICH (Reuters) – The Credit Suisse (S:) spying debacle risks tipping the bank into a crisis that could engulf its top executives. Switzerland’s market supervisor is scrutinizing Credit Suisse’s oversight of chief executive Tidjane Thiam and his top lieutenants as part of aRead More →
© Reuters. FILE PHOTO: Wells Fargo CEO Stumpf testifies before Senate Banking Committee hearing on firm’s sales practices on Capitol Hill in Washington By Karen Freifeld and Chris Prentice WASHINGTON (Reuters) – Wells Fargo & Co’s (N:) regulator on Thursday announced it had brought civil charges against eight former executives,Read More →
© Reuters. Investing.com – Shareholders of Australia-listed Westpac Banking Corp (ASX:) will gather at an annual general meeting on Thursday as the bank faces a money laundering scandal. The bank is likely to suffer a protest vote on pay that would trigger a second ‘strike’ and a vote on whetherRead More →
By Byron Kaye SYDNEY (Reuters) – Australia’s Westpac Banking Corp (AX:) came under mounting pressure on Wednesday to refresh it board after a money-laundering scandal claimed its chief executive and chairman. Proxy adviser CGI Glass Lewis recommended shareholders vote against director Peter Marriott at the annual general meeting on Dec.Read More →
© Reuters. Australia’s Westpac Banking Corp’s CEO Brian Hartzer speaks during a media conference in Sydney, Australia By Niyati Shetty (Reuters) – Westpac Banking Corp (AX:) said on Tuesday Chief Executive Brian Hartzer will step down and Chairman Lindsay Maxsted will bring forward his retirement, as the country’s biggest money-launderingRead More →
KUALA LUMPUR (Reuters) – Malaysia has discussed a $2 billion to $3 billion settlement with Goldman Sachs (NYSE:) over the U.S. bank’s alleged role in the 1MDB scandal, Bloomberg reported on Wednesday, less than half the sum the Southeast Asian nation had demanded earlier. Investigators in Malaysia and the UnitedRead More →
By Nate Raymond BOSTON (Reuters) – Federal prosecutors on Tuesday said they had brought additional charges against 18 wealthy parents, former university athletic officials and others accused of participating in the largest U.S. college admissions scam ever uncovered. Among those facing new charges are 11 parents including “Full House” starRead More →
© Reuters. Logo of Swiss bank Credit Suisse is seen Zurich By Brenna Hughes Neghaiwi and Michael Shields ZURICH (Reuters) – Credit Suisse (S:) cleared its CEO on Tuesday of snooping on a star wealth manager in an episode that saw suicide, scandal and espionage invade the secretive world ofRead More →
© Reuters. FILE PHOTO: Former Volkswagen CEO Winterkorn arrives to testify at parliamentary committee on the carmaker’s emissions scandal in Berlin By Ludwig Burger FRANKFURT (Reuters) – German prosecutors have accused Volkswagen’s CEO of holding back market-moving information on rigged emissions tests four years ago, raising the prospect of freshRead More →
Actress Felicity Huffman, who was sentenced to 14 days in jail on Friday for her role in the college-admissions scandal, wrote an impassioned 1,400-word letter to the judge overseeing her case before her sentence. The letter was designed to provide some context to her decision and, presumably, invoke some compassionRead More →
By David Shepardson WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Monday defended the pace of its investigation into Volkswagen AG (DE:) after a judge had asked why the agency waited two years after a global scandal related to vehicle emissions to sue the automaker. The SECRead More →
© Reuters. FX collusion scandal reaches Australia, class action launched By Byron Kaye SYDNEY (Reuters) – An Australian law firm filed a class action lawsuit on Monday against five major international investment banks accusing them of colluding to rig foreign exchange rates during 2008-2013 to jack up profits at theRead More →
© Reuters. A person walks by the Trojan Shrine at University of Southern California in Los Angeles By Nate Raymond BOSTON (Reuters) – A former senior executive at private equity firm TPG Capital is among 15 people set to appear in court on Friday after being charged with participating inRead More →
© Reuters. FILE PHOTO: General view of the Danske Bank building in Copenhagen By Teis Jensen COPENHAGEN (Reuters) – Former and current members of Danske Bank’s executive board have waived bonuses for 2018 because of the money laundering scandal linked to the bank’s Estonian branch. Danske Bank is under investigationRead More →
There’s an upside to failure. Bad test results can teach us valuable lessons. The parents implicated in the largest alleged college-admissions conspiracy federal prosecutors had ever encountered were shielding their children from developing vital qualities like grit and resilience, experts say. Prosecutors on Tuesday charged 50 parents, college coaches andRead More →
© Reuters. Advantage Lithium replaces CEO in wake of college admissions scandal By Ernest Scheyder and Cassandra Garrison (Reuters) – Advantage Lithium Corp said on Thursday it has temporarily replaced Chief Executive David Sidoo as he battles U.S. fraud charges connected to a sweeping college admissions scandal. The company hasRead More →
When Eva McGregor Dodds, a Detroit-area based college counselor, meets with high-school kids and parents, she hears the same fears and concerns regarding their children’s future. Parents, of course, want the best for their kids. But she has also observed something less wholesome. Parents, she said, want their kids toRead More →
© Reuters. A Lumber Liquidators store sign is shown outside one of the companies retail locations in San Diego, California (Reuters) – Lumber Liquidators (N:) has agreed to pay U.S. regulators a $33 million penalty for making false statements to investors about the safety of its laminate flooring as partRead More →
How far should you stretch things to get a raise? Some people inflate their performance record. Some people invent a fake job offer from a competitor. Then, allegedly, there’s the “Empire” actor Jussie Smollett. Smollett has been at the center of a firestorm since he was allegedly attacked in ChicagoRead More →
© Reuters. FILE PHOTO: Blankfein, CEO of Goldman Sachs, listens to a question at the Boston College Chief Executives Club luncheon in Boston (Reuters) – The board of Goldman Sachs Group Inc (NYSE:) said on Friday it is withholding a bonus worth at least $7 million from former chief executiveRead More →
© Reuters. A construction worker talks on the phone in front of a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia KUALA LUMPUR (Reuters) – Malaysia’s securities regulator said on Saturday it was looking into the conduct of auditors of 1Malaysia Development BhdRead More →
