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Corporate Finance Accounting

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  • NY Attorney General Could File Suit Against UBS: WSJ Wednesday, 23 Jul 2008 | 6:16 AM ET

    New York attorney general Andrew Cuomo is preparing to file civil securities-fraud charges against UBS, possibly as early as this week, the Wall Street Journal said on Wednesday.

  • SEC Says Expanding Rumor Crackdown Monday, 14 Jul 2008 | 8:37 AM ET

    U.S. securities regulators are boosting efforts to stop the spread of false rumors that threaten financial institutions, after a week that saw steep slides in the shares of Fannie Mae, Freddie Mac and Lehman Brothers.

  • Government Rule Makers Looking at Pensions Friday, 11 Jul 2008 | 12:51 PM ET

    As cities and states struggle with ballooning retirement costs, accounting rule makers started an ambitious project Thursday to force state and local governments to issue better numbers and reveal the true cost of their pension promises.

  • Bear Stearns Fund Managers Likely to be Indicted Thursday, 19 Jun 2008 | 5:55 AM ET

    The indictment of two Bear Stearns hedge fund managers for securities fraud is expected to be announced later on Thursday in connection with a fund tied to the subprime lending market, CNBC has learned.

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    Corrupt officials are raking off a sum equivalent to one third of Russia's annual budget, or $120 billion, a senior prosecutor was quoted as saying on Friday.

  • Ex-Credit Suisse Banker Gets 10 Years Jail Sentence Saturday, 31 May 2008 | 7:32 AM ET

    A former Credit Suisse investment banker convicted of leaking inside information about pending mergers was sentenced to 10 years in prison by a federal judge Friday.

  • John F. Marshall spent decades teaching at business schools and watching his students parlay his lessons into fortunes on Wall Street. But when he and another professor reached for some of those riches themselves, events took a startling turn, the authorities say.

  • Navistar Keeps on Truckin' Tuesday, 20 May 2008 | 6:20 PM ET

    The school bus and truck company is about to get a whole lot more expensive. Cramer wouldn't wait too long to buy this one.

  • Bush Won't Veto Bill Halting Shipments to Oil Reserve Thursday, 15 May 2008 | 10:50 AM ET

    The White House said that President Bush would not veto a final bill from Congress that orders a halt to filling the Strategic Petroleum Reserve while oil prices are very high.

  • Subprime Mortgage Collapse Under Federal Probe Monday, 5 May 2008 | 5:42 AM ET
    Fed Cut and Mortgage

    Federal prosecutors in New York have formed a task force together with other government agencies to examine the collapse of the market for risky home loans, a spokesman for the U.S. Attorney's Office in Brooklyn said Monday.

  • NY Judge Reserves Clear Channel Judgment Friday, 25 Apr 2008 | 6:43 AM ET

    A New York state judge on Thursday made no immediate ruling on a group of banks' request to dismiss a lawsuit seeking to force them to fund the $20 billion leveraged buyout of Clear Channel Communications.

  • US Regulators to Settle with Ex-Fannie Executives Thursday, 17 Apr 2008 | 10:23 PM ET
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    U.S. federal regulators will announce a settlement on Friday with former Fannie Mae  executives over their alleged roles in a 2004 multibillion-dollar accounting scandal, a person familiar with the settlement said on Thursday.

  • Skilling to Appeal 'Egregious' Enron Prosecution Monday, 31 Mar 2008 | 12:33 PM ET
    Former Enron CEO Jeff Skilling (AP Photo/David J. Phillip)

    Attorneys for former Enron CEO Jeffrey Skilling will argue Wednesday that his 2006 conviction should be overturned because of “shocking” and “egregious” misconduct by prosecutors.

  • Biovail and Execs Slapped with Fraud Charges Monday, 24 Mar 2008 | 11:41 AM ET

    The U.S. Securities and Exchange Commission charged Canada's Biovail, two current senior executives and former Chief Executive Eugene Melnyk with engaging in a number of fraudulent accounting schemes, the agency said on Monday.

  • Skilling Attorneys: Feds Withheld Key Evidence Saturday, 15 Mar 2008 | 10:13 AM ET

    Attorneys for jailed former Enron CEO Jeffrey Skilling say the government illegally withheld key evidence that would have proven he is innocent.

  • Fidelity anti-money laundering unit probed? Friday, 14 Mar 2008 | 9:56 AM ET

    A federal grand jury and the Securities and Exchange Commission have been investigating the anti-money laundering practices of Fidelity Investments, according to a report in the Boston Business Journal.

  • Warren Buffett's just-released annual letter to shareholders features a blistering attack on what he calls the "fanciful figures" of Corporate America's accounting, especially when it comes to assumptions about pension fund returns.  He says those assumptions are far too optimistic, designed to boost short-term earnings at the expense of future retirees.

  • AIG Shares Tank After Firm Posts $5.29 Billion Loss Friday, 29 Feb 2008 | 3:50 PM ET
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    American International Group shares fell 7 percent on Friday, a day after the world's largest insurer reported a $5.29 billion quarterly loss.

  • Bush Pushes Congress on Stimulus Package Friday, 25 Jan 2008 | 5:19 PM ET
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    President Bush urged Congress on Friday to quickly pass an economic stimulus package void of extraneous spending, saying only quick action will kickstart the sputtering economy. "I strongly believe it would be a mistake to delay or derail this bill," Bush said.

  • Supreme Court Upholds Limits on Investor Lawsuits Tuesday, 15 Jan 2008 | 2:41 PM ET

    The Supreme Court upheld a ruling that investors cannot sue third parties such as banks and accounts in cases of securities fraud.