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Commercial and Professional Services Professional Services

  • LONDON, Oct 6- The head of Tesco's UK business was read out "almost word by word" a report detailing a 250 million pounds hole in the supermarket's accounts in 2014 a week before the stock market was informed, a court heard on Friday. Amit Soni, a senior accountant at Tesco, was giving evidence for a third day at the trial of three former senior executives of Britain's...

  • LONDON, Oct 5- A senior accountant at Tesco said his team was falling apart in 2014 when Britain's biggest retailer ended a tough first half trading period but bosses refused to reduce targets for the second half, a London court heard on Thursday. Christopher Bush, 51, who was managing director of Tesco UK, Carl Rogberg, 50, who was UK finance director, and John...

  • CAPE TOWN, Oct 5- South African waste management company Interwaste fired KPMG as its auditor on Thursday, dealing another blow to the accounting firm ensnared in a scandal involving business friends of President Jacob Zuma. Interwaste, a Johannesburg- based company involved in the disposal and recycling of waste from mines and residential homes, has...

  • LONDON, Oct 4- A senior accountant at Tesco described mounting pressures on managers as the food business under-performed against targets in 2014, telling a London court that his attempts to have the targets revised down had fallen on deaf ears. Amit Soni was giving evidence at the trial of three former senior Tesco executives who are accused of fraud and false...

  • Christopher Bush, 51, who was managing director of Tesco UK, Carl Rogberg, 50, who was UK finance director, and John Scouler, 49, who was UK food commercial director, all deny charges of fraud and false accounting. On the third day of the trial, lead prosecutor Sasha Wass told the jury that Richard Parsons, a finance project manager, and Nadiri Aysen, an accountant, both...

  • NEW YORK, Sept 29- Deutsche Bank AG agreed to pay $190 million to settle U.S. litigation accusing it of rigging prices in the roughly $5.1 trillion- a-day foreign exchange market. Deutsche Bank's preliminary settlement was detailed in filings on Friday with the U.S. District Court in Manhattan, and requires a judge's approval. Deutsche Bank's settlement is the...

  • Sept 25- The U.S. Senate on Monday confirmed William Emanuel, a veteran management-side labor lawyer, to the National Labor Relations Board, giving the agency a Republican majority widely expected to roll back recent decisions that business groups have said favored unions. Emanuel, a partner with global labor-law firm Littler Mendelson, was confirmed 49-47 by...

  • NEW YORK, Sept 22- Wells Fargo& Co. has hired law firm Sidley Austin to take the lead in preparing Chief Executive Tim Sloan for his appearance before the U.S. Congress next month to answer questions about a year-long sales practices scandal, according to four sources with knowledge of the decision. Sloan will appear before the Senate Banking Committee, which...

  • HOUSTON, Sept 20- Lawyers expect a spate of force majeure contract lawsuits after Hurricane Harvey tore through Southeast Texas and parts of Louisiana last month, paralyzing a fifth of U.S. fuel output and pushing some oil production offline. Damage in Texas wrought by Harvey is estimated at around $180 billion, according to Texas Governor Greg Abbott, with some...

  • NEW YORK, Sept 22- Cnova NV, the e-commerce arm of French retailer Groupe Casino, agreed to pay $28.5 million to settle litigation in the United States claiming it defrauded investors in connection with its November 2014 initial public offering. The all-cash, preliminary settlement was filed on Friday with the U.S. District Court in Manhattan, and it requires a...

  • By Lisa Lambert and Patrick Rucker. WASHINGTON, Sept 21- The U.S. consumer finance watchdog agency is expected to punish Equifax for its cyber breach with the wide-ranging powers it has used with Wall Street, former agency officials and lawyers said this week. The credit-reporting company is subject to five federal laws governing listed companies, the use of...

  • SAN FRANCISCO, Sept 21- Zenefits, the software startup that has faced a number of regulatory penalties, said on Thursday it is changing its business to provide software to insurance brokers. Its first customer is Atlanta- based broker OneDigital. Chief Executive Jay Fulcher, who in February became Zenefits' third CEO in a year, said Zenefits' expertise is in...

  • HOUSTON, Sept 20- Lawyers expect a spate of force majeure contract lawsuits after Hurricane Harvey tore through Southeast Texas and parts of Louisiana last month, paralyzing a fifth of U.S. fuel output and pushing some oil production offline. Damage in Texas wrought by Harvey is estimated at around $180 billion, according to Texas Governor Greg Abbott, with some...

  • President Donald Trump is using money donated to his re-election campaign and the Republican National Committee to pay for his lawyers in the probe of alleged Russian interference in the U.S. election, two people familiar with the matter told Reuters. Following Reuters exclusive report on Tuesday, CNN reported that the Republican National Committee paid in...

  • RNC PAID $100,000 TO JOHN DOWD, $131,250 TO LAW FIRM OF JAY SEKULOW- RNC OFFICIAL.

  • *Broker Sasfin cites "well-publicised concerns". JOHANNESBURG, Sept 19- A South African broker and an energy investment firm fired KPMG on Tuesday, two of a number of local firms weighing whether to ditch the auditor to distance themselves from a scandal involving business friends of President Jacob Zuma. Sasfin and Hulisani, both relatively small financial...

  • *Broker Sasfin cites "well-publicized concerns". JOHANNESBURG, Sept 19- A South African broker and an energy investment firm fired KPMG on Tuesday, two of a host of local firms weighing whether to ditch the auditor to distance themselves from a scandal involving business friends of President Jacob Zuma. Sasfin and Hulisani, both relatively small financial...

  • JOHANNESBURG, Sept 19- South African brokerage house Sasfin Holdings on Tuesday fired KPMG as its auditor, citing "well-publicised concerns" about the accounting firm struggling to keep clients after flaws in its work for friends of President Jacob Zuma. KPMG cleared out its South African leadership en masse on Friday after it found that work done for firms...

  • WASHINGTON, Sept 18- A federal magistrate judge blocked the U.S. Justice Department from sharing with a German law firm 25 million pages of records disclosed by Volkswagen AG in the government's diesel emissions investigation. Magistrate Judge Jacqueline Corley in California, is a win for the world's largest automaker, which faces 1,600 securities suits in...

  • By Ed Cropley and Joe Brock. JOHANNESBURG, Sept 15- Global auditor KPMG cleared out its South African leadership on Friday after damning findings from an internal investigation into work done for businessmen friends of President Jacob Zuma. It became the third global firm to be damaged by work carried out for the Indian-born brothers, after public relations...