Corporate Finance Accounting

  • MIAMI— Lawyers for accounting giant PricewaterhouseCoopers and a defunct mortgage company's creditors and investors have reached a settlement in a lawsuit involving audits at a failed Alabama bank. The lawsuit claimed PricewaterhouseCoopers should have detected massive fraud at Colonial Bank of Montgomery, Alabama. It claimed the estimated $21...

  • Prominent start-up Hampton Creek, maker of Just Mayo, faces scrutiny from regulators for its business practices, the NYT reports.

  • MILAN, Aug 19- The latest judicial probe into Monte dei Paschi di Siena is a procedural necessity but it could still damage Italy's third-largest bank as it seeks to solve its financial woes, the lender's chief executive said on Friday. CEO Fabrizio Viola and former chairman Alessandro Profumo are under investigation for alleged false accounting and market...

  • The Defense Department's Inspector General, in a June report, said the Army made $2.8 trillion in wrongful adjustments to accounting entries in one quarter alone in 2015, and $6.5 trillion for the year. Yet the Army lacked receipts and invoices to support those numbers or simply made them up. Disclosure of the Army's manipulation of numbers is the latest...

  • *Short sellers shifting focus from Chinese companies to Japan. *Citron's Cyberdyne attack is sixth ever on Japan company. HONG KONG, Aug 19- Short-sellers who made their names and fortunes wiping billions off Chinese and Southeast Asian companies are setting their sights on Japan after a series of accounting scandals amplified concerns about weak corporate...

  • Hain Celestial on pace for worst day ever

    Jon Najarian discusses buying Hain calls last week as today's news of delayed earnings sends the stock tumbling, with the "FMHR" traders.

  • *Raises 2016 profit forecast to $6.31/ shr from $6.27/ shr. Home Depot and smaller rival Lowe's Cos Inc have benefited as consumers cut back spending on items such as apparel and accessories and instead spend more on houses and renovating and redecorating their homes. Sales of such products rose 8.1 percent in the second quarter ended July 31, accounting for about...

  • Analyst: Modeling Hain a 'black hole'

    Bill Chappell, SunTrust Robinson Humphrey Consumer Products Analyst, discusses his downgrade of Hain Celestial following the news that the natural food maker is delaying its earnings due to an accounting review.

  • Cramer: Hain, you can't own the stock here

    CNBC's Jim Cramer weighs in on Hain Celestial after the company announced it will delay its annual earnings reports and shares plummeted.

  • Hain Celestial shares plunge

    CNBC's Sara Eisen reports Hain Celestial's announcement its annual report will be delayed due to some accounting issues.

  • SAO PAULO, Aug 12- Estácio Participações SA said on Friday it has discovered a series of accounting irregularities over the last two years that cost Brazil's No. 2 college operator 108 million reais in one-time charges and has summoned independent auditors and consultants to explain. Kroton Chief Executive Officer Rodrigo Galindo told analysts on a...

  • *Q1 op profit Y20.1 bln vs Y6.5 bln loss year prior. TOKYO, Aug 12- Toshiba Corp on Friday said extensive restructuring helped the Japanese conglomerate swing to its first operating profit in six quarters, signalling recovery from a $1.3 billion accounting scandal that unmasked underperforming operations. That compared with a year-earlier loss of 6.5 billion...

  • n this handout provided by NASA, guests watch the second and final qualification motor (QM-2) test for the Space Launch System's booster, Tuesday, June 28, 2016, at Orbital ATK Propulsion Systems test facilities in Promontory, Utah.

    Shares of the U.S. aerospace contractor took a dive after an accounting error, USA Today reports.

  • Itochu Glaucus

    Soren Aandahl of Glaucus Research Group notes that the Japanese firm has three material accounting issues, and warns that Itochu's record profits are merely a mirage.

  • The company forecast revenue of about $1.08 billion, including a change in deferred revenue from online-based games. EA is releasing its latest FIFA game four days before the September-quarter ends, while it stops accounting for revenue from its digital business about five days before the quarter ends, Chief Financial Officer Blake Jorgensen said in an...

  • TOKYO, July 27- Japan's Itochu Corp became the target of short-seller Glaucus Research Group on Wednesday with a report criticising the trading company's accounting practices, sending its shares tumbling as much as 10 percent. The report highlighted Itochu's investments in a Colombian coal mining joint venture and China's CITIC Ltd, arguing that the...

  • Malaysia's troubled wealth fund 1MDB has revealed that Deloitte told it in February it would quit as auditor as soon as a replacement was found.

  • TOKYO, July 27- Japan's Itochu Corp became the target of short-seller Glaucus Research Group on Wednesday with a report criticising the trading company's accounting practices, sending its shares tumbling as much as 10 percent. The report highlighted Itochu's investments in a Colombian coal mining joint venture and China's CITIC Ltd, arguing that the...

  • NEW YORK, July 21- Accounting firm KPMG has resigned as the auditor for Visium Asset Management, according to a letter sent to investors of the embattled hedge fund firm this week. Jacob Gottlieb, Visium's managing partner, noted that it hired accountants PKF O'Connor Davies LLP to perform 2015 audits for its hedge funds, which are being liquidated.

  • NEW YORK, July 21- Accounting firm KPMG has resigned as the auditor for Visium Asset Management, according to a letter sent to investors of the embattled hedge fund firm this week. Jacob Gottlieb, Visium's managing partner, noted that it hired accountants PKF O'Connor Davies LLP to perform 2015 audits for its hedge funds, which are being liquidated.