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Prosecutors may not call Berkshire Hathaway Chairman Warren Buffett as a witness in a criminal trial of former officers of its General Re reinsurance unit, according to a court filing.
Lawyers who won a class action suit against Tyco International and PricewaterhouseCoopers will be awarded 14.5 percent of the $3.2 billion settlement, plus nearly $29 million in expenses, a judge has ordered.
Federal prosecutors are investigating whether a Bear Stearns fund manager improperly withdrew his own money from a fund while making rosy forecasts about the prospect of the portfolio, the Wall Street Journal reported on Tuesday.
U.S. securities regulators sued two former financial advisers at Morgan Stanley Friday for defrauding at least 50 mutual fund companies and their shareholders.
H&R Block, the nation's largest tax preparer, said in a preliminary earnings report Tuesday that it expected a huge second-quarter loss as it continued to wrestle with its disintegrating mortgage arm.
A judge sentenced former media mogul Conrad Black to 6-1/2 years in prison for obstructing justice and defrauding shareholders of one-time newspaper publishing giant Hollinger International.
Billionaire investor Warren Buffett, slated to be called as a prosecution witness in the criminal fraud trial against five executives for allegedly helping American International Group inflate its reserves, may also be called as a defense witness by at least one of the defendants, CNBC has learned.
Federal prosecutors intend to call billionaire investor Warren Buffett to testify against five former senior insurance executives charged with helping the American International Group to manipulate its financial statements through $500 million in phony transactions, according to court documents.
While political reporters like me are largely focused on the 2008 presidential race, our dysfunctional governmental apparatus in Washington continues laboring, however haltingly, in search of some tangible accomplishments. And some of them would have significant impact on Wall Street and the business community more broadly.
The U.S. Securities and Exchange Commission voted 3-1 Wednesday to allow companies to exclude shareholder proposals regarding director nominations from the annual proxy statement.
Countrywide has been very smart about figuring out ways to make money from every part of the mortgage process. Here's an example pointed out to me. Countrywide reinsures some of its mortgages. When a homebuyer puts down only 10%, he or she usually has to buy mortgage insurance from a third party (I thought mortgage insurance was dead in the age of 80-20 loans, but apparently not).
E-Trade Financial, the beleaguered online trader, is in talks to sell itself, according to people familiar with the situation. Bankers say that while there is plenty of interest, it is far from clear whether anything will get done.
United Rentals said Monday that it had filed a lawsuit seeking to compel Cerberus Capital Management to complete its $4 billion buyout of the equipment rental company.
Several financial institutions have been telling investors that subprime losses may not be as big as feared. Yet many wonder if it's all just wishful thinking.
A New York appeals court has upheld the convictions of former Tyco International senior executives Dennis Kozlowski and Mark Swartz, the court clerk's office said Thursday.
Help may be on the way for the financial sector, but in the meantime individual institutions are continuing to get hit with damage from the growing subprime mortgage crisis.
A Citi analyst downgraded shares of E-Trade Financial on Monday after the online brokerage said late Friday that deterioration in the value of its holdings of securities backed by home mortgages has fallen significantly and will lead to bigger-than-expected write-downs in the fourth quarter.
The chief of the nutritional supplement company confronts allegations about bad business practices and S.E.C. investigations in an exclusive interview.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Merrill Lynch said its total exposure to risky debt is $27.2 billion, or about $6.3 billion more than what the company disclosed late last month.
Citigroup's problems deepened as it was unable to assure investors a potential $11 billion write-down for subprime mortgages won't grow, and its nearly pristine credit rating was downgraded.