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... » Read More
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Attorneys for jailed former Enron CEO Jeffrey Skilling say the government illegally withheld key evidence that would have proven he is innocent.
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.
American International Group shares fell 7 percent on Friday, a day after the world's largest insurer reported a $5.29 billion quarterly loss.
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.
The Supreme Court upheld a ruling that investors cannot sue third parties such as banks and accounts in cases of securities fraud.
The office of New York Attorney General Andrew Cuomo on Thursday said it launched a formal investigation into Intel to determine whether the world's biggest chipmaker violated state and U.S. antitrust laws to squeeze out its rival, Applied Micro Devices.
Attorneys for the brothers of hedge fund manager Seth Tobias say his wife killed him because "Seth was worth substantially more to (her) dead than he was alive, and she knew that."