While FAA inspectors complained that they've had to cancel inspections because of the agency's tight travel budget, the GAO said it couldn't confirm the assertions because the FAA said doesn't keep separate data on travel expenditures for oversight of foreign repair stations. The report also criticized the FAA for not collecting data from airlines on the... » Read More
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.
The House of Representatives Thursday passed an energy bill that would boost vehicle fuel economy requirements by 40 percent by 2020, raise ethanol use by five-fold by 2022 and impose $13 billion in new taxes on big oil and gas companies.
New York Attorney General Andrew Cuomo told CNBC that he would let a state ethics panel review his connections with a prominent Bear Stearns board member if his office decides to launch a formal investigation into the firm's involvement in the subprime meltdown.
Christie's auction house will hold the first liquor auction since Prohibition this weekend in New York, with some rare whiskies expected to fetch up to $30,000 a bottle.
Some of the world's biggest banks were subpoenaed by New York state prosecutors Wednesday to give information about the packaging and selling of subprime mortgages.
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.
A federal judge has named two New York pension funds lead plaintiffs for five class-action lawsuits accusing Countrywide Financial, the largest US mortgage lender, of inflating earnings and overstating its ability to weather the housing slump.
It seems like suddenly everyone is jumping on the bandwagon. First Countrywide announced a deal with Neighborhood Assistance Corp. of America (NACA) to modify loans on a case-by-case basis. Then California Gov. Arnold Schwarzenegger announced a plan with Countrywide, GMAC and others to freeze ARM interest rates on certain loans temporarily, as long as the borrower is living in the home and up-to-date on current payments.
A slew of responses to my post reprinting questions that New York Democratic Senator Chuck Schumer sent Countrywide Chairman and CEO Angelo Mozilo. Most responses centered on why the company doesn't send 1099 forms to independent brokers.
Swiss drugmaker Roche has submitted its experimental Actemra drug to the U.S. authorities for approval to treat moderate to severe rheumatoid arthritis in adults.
Employees who report their companies for price-fixing should be rewarded with large cash payments, a current and a former antitrust official proposed on Tuesday.
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.
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.
Former Countrywide Financial Vice President Quan Zhu agreed to pay $108,840 to settle insider trading charges, the U.S. Securities and Exchange Commission said on Monday.
William Lerach, a former partner at a prestigious New York law firm, pleaded guilty Monday to conspiracy for his role in a scheme to bribe people to become plaintiffs in lucrative class-action lawsuits.
Two former officers at a company that supplies body armor to the U.S. Army face charges they inflated the company's stock price and made nearly $200 million in the process.
A U.S. securities regulator Tuesday warned investors to be wary of scams touting huge potential profits from energy-related stocks, when the onlypeople likely to make money are those running the schemes.
The European Commission on Monday extended the deadline for its inquiry into Google's proposed purchase of rival DoubleClick to Nov. 13 from Oct. 26.
An assistant to hedge fund manager Seth Tobias, who died suddenly last month at age 44, told CNBC he has evidence that Tobias was murdered.
House Democrats on Wednesday pushed through legislation to end a program that turns over smaller-scale tax deadbeat cases to private collection agencies.