Carl Levin
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Authorities declined to comment on a suspect or any other aspect of the investigation, but a senator says the person under suspicion writes a lot of letters to Senate members. » Read More |
There is a new twist in the London Whale trading scandal that cost JPMorgan Chase $6.2 billion in trading losses last year. Some of the firm's own traders bet against the very derivatives positions placed by its chief investment office, said three people familiar with the matter. » Read More |
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WASHINGTON, May 23- Lois Lerner, an Internal Revenue Service official at the center of the scandal over the agency's extra scrutiny of conservative groups, was put on administrative leave on Thursday after she refused to resign, a U.S. senator said. An IRS spokesman declined to comment on Lerner's status, citing privacy concerns.
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SAN FRANCISCO/ DUBLIN, May 23- Apple has operated almost tax-free in Ireland since 1980, welcomed by a government keen to bring jobs to what was then one of Europe's poorest country, former company executives and Irish officials have said. Apple must have seemed attractive to Ireland and to Cork.
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WASHINGTON, May 21- Apple Inc came under fire on Tuesday at a Senate hearing over an investigation that alleged the U.S. high technology icon has kept billions of dollars in profits in Irish subsidiaries and paid little or no taxes to any government.
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WASHINGTON/ SAN FRANCISCO, May 20- Using an unusual global tax structure, Apple Inc has kept billions of dollars in profits in Irish subsidiaries to pay little or no taxes to any government, a U.S. Senate report on the company's offshore tax structure said on Monday.
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SAN FRANCISCO, May 20- Apple Inc will argue for a comprehensive corporate tax reform that will levy a "reasonable tax" on foreign earnings and is not dependent on a company's revenue when it goes before a Senate panel on Tuesday to explain its offshore tax practices.
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In a 40- page memorandum released a day before Apple CEO Tim Cook is scheduled to testify before Congress, the Senate's Permanent Subcommittee on Investigations identified three subsidiaries that have no "tax residency" in Ireland, where they are incorporated, or in the United States, where company executives manage those companies.
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WASHINGTON, May 10- An investigation of the U.S. Internal Revenue Service was launched on Friday after a senior IRS official publicly apologized for subjecting conservative political groups to "inappropriate" scrutiny. "We would like to apologize for that," said Lois Lerner, director of the IRS tax-exempt office at an American Bar Association conference.
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*China seen as major source of cyber theft attempts By Deborah Charles. The four powerful senators- Democrats Carl Levin and Jay Rockefeller and Republicans John McCain and Tom Coburn- joined together to launch the Deter Cyber Theft Act. General Keith Alexander, head of the U.S. National Security Agency and commander of the U.S.
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WASHINGTON, May 1- The Securities and Exchange Commission proposed new rules on Wednesday for the over-the-counter derivatives business of foreign banks, with the U.S. regulators saying they hoped the plan could provide a road map to resolve a brewing international conflict over how to regulate the $640 trillion market.
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WASHINGTON, May 1- The Securities and Exchange Commission proposed new rules on Wednesday for the over-the-counter derivatives business of foreign banks, with the U.S. regulators saying they hoped the plan could provide a road map to resolve a brewing international conflict over how to regulate the $640 trillion market.
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Authorities declined to comment on a suspect or any other aspect of the investigation, but a senator says the person under suspicion writes a lot of letters to Senate members.
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FCC Chairman Julius Genachowski will leave the commission in coming weeks and the letter to Obama, signed by 37 senators, calls Rosenworcel "a superb candidate" who is "equally respected" by the telecommunications industry, public safety community and public interest groups.
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*Experts say Senate probe could add to bank's legal woes. WASHINGTON, March 15- Ina Drew, the former JPMorgan Chase& Co executive who earned millions while in charge of the unit that made the disastrous " London whale" trades, refused on Friday to accept responsibility for the $6.2 billion in losses revealed last year.
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*Experts say Senate probe could add to bank's legal woes. WASHINGTON, March 15- Ina Drew, the former JPMorgan Chase& Co executive who earned millions while in charge of the unit that made the disastrous " London whale" trades, on Friday refused to accept responsibility for the $6.2 billion in losses revealed last year.
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WASHINGTON, March 15- A former top JPMorgan Chase official blamed traders and managers who reported to her for bets that led to $6 billion in losses for the bank, telling lawmakers on Friday that her team changed projected losses and hid important information from her.
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*Former exec Ina Drew points to her direct reports. WASHINGTON, March 15- Ina Drew, the former JPMorgan Chase& Co executive in charge of the unit that made the disastrous "London Whale" trades that became public last year, told lawmakers on Friday that she does not bear personal responsibility for the $6 billion in losses.
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WASHINGTON, March 14- JPMorgan Chase& Co ignored risks, misled investors, fought with regulators and tried to work around rules as it dealt with mushrooming losses in a derivatives portfolio, a Senate report alleged in a damning review of the largest U.S. bank's management.
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*Abe expects to announce Japan's interest in TPP on Friday. WASHINGTON, March 14- Four dozen Democratic lawmakers on Thursday expressed concern about Japan joining free trade talks with the United States and urged President Barack Obama to maintain U.S. tariffs on Japanese autos and trucks if Tokyo does enter the negotiations.
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WASHINGTON, March 14- Senior managers at JPMorgan Chase& Co, including Chief Investment Officer Ina Drew, were told for months about the bad derivatives bets that ended up costing the bank $6.2 billion but did little to rein them in until it was too late, according to a U.S. Senate report.
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WASHINGTON, March 14- A group of Democratic lawmakers on Thursday urged President Barack Obama to insist on keeping a 2.5 percent tariff on Japanese autos and a 25 percent tariff on Japanese trucks if the United States and Japan enter into free trade negotiations.
