New U.S. prosecution policy is recipe for corporate conflict: lawyers
NEW YORK (Reuters) – Company executives may be quicker to hire lawyers and less likely to cooperate with investigations because of a renewed push by U.S. prosecutors to put individuals in prison instead of only levying big fines on corporations that br…
Former Dewey executives ‘lied, schemed and defrauded,’ jury told
(Reuters) – A Manhattan prosecutor on Thursday urged a jury to convict three former executives of Dewey & LeBoeuf for allegedly cooking their law firm’s books to defraud lenders and investors, arguing they ordered the fraud even if they did not personally carry it out.
Wall St. rises with Apple, biotechs, but Fed jitters remain
(Reuters) – U.S. stocks ended higher on Thursday in another day of broad swings as investors showed nervousness ahead of next week’s much-anticipated Federal Reserve meeting, but gains in Apple and biotech shares supported the day’s advance.
Citi shared central bank info with clients: ex trader
LONDON (Reuters) – Citigroup sent details of its central bank customers’ trading activity to another client and handed out details of its foreign exchange order book to customers in electronic chatrooms, a former foreign exchange trader said in a witne…
U.S. outlines new policy for investigating corporate executives
NEW YORK (Reuters) – The U.S. Department of Justice laid out on Thursday a revised policy for prosecutors to focus on wrongdoing by corporate executives, drawing criticism it was too late after the 2008-09 financial meltdown and housing crisis.
Target to drop Cherokee brand products in U.S. from 2017
(Reuters) – Apparel retailer Cherokee Global Brands said Target Corp elected not to renew the license of the Cherokee brand in the United States, sending the company’s shares tumbling 33 percent in extended trading.
Citi made $35 million ahead of client’s M&A deal, former FX trader tells court
LONDON (Reuters) – Senior Citigroup bankers put the interests of the U.S. bank ahead of clients, trading on insider information ahead of a major M&A deal five years ago, one of its former foreign exchange traders told a London court on Wednesday.
GE seeks sale of asset management arm amid industrial push
(Reuters) – General Electric Co said on Thursday it would seek to sell its asset management arm to an investment management firm, as the U.S. conglomerate further sharpens its focus on industrial products.
U.S. regulator says Takata recall plan could include other suppliers
WASHINGTON (Reuters) – A government plan to recall and replace millions of potentially deadly Takata Corp air bag inflators could compel other manufacturers to supply automakers with the safety devices, the top U.S auto safety regulator said on Thursda…
Avon in talks with private equity firms for stake sale: WSJ
(Reuters) – Avon Products Inc , which sells cosmetics door-to-door, is in talks with private equity firms about an investment through a stake sale in the struggling company, the Wall Street Journal reported on Thursday.
