×

Corporate Finance Accounting

  • LONDON, Jan 24- Britain's BT Group slashed its revenue, earnings and cash flow forecasts on Tuesday after it said an accounting scandal in its Italian business went far further than it previously thought. EBITDA c.7.9 bln stg c.7.6 bln stg Growth Broadly flat Normalised free 3.1-3.2 bln c.2.5 bln stg > 3.6 bln stg 3.0- 3.2 bln stg cash flow stg Dividend per 10 pct...

  • *Sees slowdown in UK public sector work. LONDON, Jan 24- BT lost a fifth of its market value on Tuesday when an Italian accounting scandal compounded a sudden slowdown in its British government work, forcing the telecoms group to cut forecasts for the next two years. "Public sector in the UK is also particularly challenging.

  • *Sees slowdown in UK public sector work. LONDON, Jan 24- BT lost almost a fifth of its market value on Tuesday after an Italian accounting scandal compounded a slowdown in its British government business to force the firm to cut revenue, earnings and cash flow forecasts for the next two years. The telecoms company, which had revealed an initial investigation into...

  • LONDON, Jan 24- Britain's BT cut its revenue, earnings and cash flow forecasts for the next two years on Tuesday after finding that improper accounting at its Italian business went far deeper than previously thought, sending its shares 15 percent lower. The telecoms company, which had revealed an initial investigation into historical accounting practices in...

  • LONDON, Jan 24- Britain's BT cut its revenue, earnings and free cash flow forecasts for 2017 and 2018 on Tuesday after finding that inappropriate accounting behaviour in its Italian business went far deeper than previously thought. BT, which had revealed an initial investigation into historical accounting practices in Italy in October, said a review had found...

  • LONDON, Jan 24- Britain's BT cut its revenue, earnings and free cash flow forecasts for 2017 and 2018 on Tuesday after finding that inappropriate accounting behaviour in its Italian business went far deeper than previously thought. BT, which had announced an initial investigation into historical accounting practices in Italy in October, said a review had...

  • The deal would resolve charges that accounting control failures at the automaker prevented GM from properly assessing the potential financial impact of the defective ignition switch, which led to vehicle recalls beginning in 2014, the SEC said. The largest U.S. automaker said in a statement it consented to an administrative SEC order, without admitting or...

  • Jan 17- Goldman Sachs Group Inc head of global compliance Alan Cohen is stepping down. Cohen, who will now be a senior adviser to Goldman's executive office, will be replaced by Controller and Chief Accounting Officer Sarah Smith, according to a firm memo on Tuesday. Smith will be replaced by deputy controller Brian Lee.

  • Jan 17- Goldman Sachs Group Inc head of global compliance Alan Cohen is stepping down. Cohen, who will now be a senior adviser to Goldman's executive office, will be replaced by Controller and Chief Accounting Officer Sarah Smith, according to a firm memo on Tuesday. A Goldman spokesman confirmed its contents.

  • The Securities and Exchange Commission in Washington

    The SEC is cracking down on non-GAAP accounting to rein in publicly traded companies that may be "creative" with their earnings, USA Today reports.

  • The best option is for Toshiba's lenders to keep credit flowing, said the president of a market intelligence company.

  • Satoshi Tsunakawa, president and CEO of Toshiba, bows as he arrives for a news conference in Tokyo, Japan, on Tuesday, December 27, 2016.

    Japan's Toshiba nose-dived nearly 26 percent on Thursday, marking a fifth consecutive session, after credit downgrades from both Moody's and S&P Global Ratings.

  • *Follows $1.3 bln accounts scandal, $2 bln charge for nuclear biz. TOKYO/ NEW YORK, Dec 27- Toshiba Corp said it may have to book several billion dollars in charges related to a U.S. nuclear power plant construction company acquisition, sending its stock tumbling 12 percent and rekindling concerns about its accounting acumen. Toshiba's latest writedown would be...

  • *Follows $1.3 bln accounts scandal, $2 bln charge for nuclear biz. TOKYO, Dec 27- Toshiba Corp said it may have to book several billion dollars in charges related to a U.S. nuclear power acquisition, a shock warning that sent its stock tumbling 12 percent and rekindled concerns about its accounting acumen. Such a hit would be another slap in the face for a sprawling...

  • Former CIA officer John Kiriakou.

    How Deloitte used veteran CIA officers shows just how intense the competition between major accounting firms is.

  • LONDON, Dec 15- A new accounting rule forcing banks to set aside capital much earlier in case loans turn sour could have a significant impact on their financial statements, and they should be preparing for the change now, a global regulatory group said on Thursday. The new rule, known as IFRS9, is being introduced in more than 100 countries from January 2018,...

  • In a letter sent in September that became public on Tuesday, the Securities and Exchange Commission asked the bank's controller, Richard Levy, to explain how Wells Fargo went about valuing the portfolio, which it acquired primarily by buying Wachovia. The SEC's questions, which may represent another headache for Wells Fargo following a sales scandal, relate to...

  • Short selling makes its foray into Japan

    Yuki Arai, founder of Well Investments Research, says that more critical views are needed in Japanese capital markets.

  • *To encourage new Islamic finance products using gold. Dec 5- Islamic finance experts have developed new rules for gold transactions, they said on Monday, potentially opening the way for Islamic institutions to trade gold and silver much more actively. The Bahrain- based Accounting and Auditing Organization for Islamic Financial Institutions spent a year...

  • *To encourage new Islamic finance products using gold. Dec 5- Islamic finance experts have developed new rules for gold transactions, they said on Monday, potentially opening the way for Islamic institutions to trade gold and silver much more actively. The Bahrain- based Accounting and Auditing Organization for Islamic Financial Institutions spent a year...