Due to his concern that the SEC didn’t go after senior executives, an $8.25 million reward from the Securities and Exchange Commission for blowing the whistle on the lender overvaluing a derivatives portfolio is being refused by a former Deutsche Bank AG risk officer. Eric Ben-Artzi wrote in a Financial Times column published Friday that…
Even as hardware companies struggle to keep up with rapid technology shifts, analysts and recruiters believe that Cisco Systems Inc’s announcement on Wednesday that it plans to lay off 5,500 employees is unlikely to be the last round of Silicon Valley pink slips. Analysts say that as mobile applications and cloud computing become increasingly important,…
By launching them out of the roof of a truck, one company has found a way to make the unmanned flying machines deliver packages today while Amazon is tussling with regulators over drone deliveries. The Federal Aviation Administration’s (FAA) latest rules have been managed to be adhered to by the U.S. firm Workhorse which has created a…
Due to “potentially manipulative transactions” and concerns about the “identity of the persons in control” the Securities and Exchange Commission halted its shares, which trade on over-the-counter markets in the U.S. Over the years, there were red flags. After Neuromama Ltd’s paper value more than quadrupled to $35 billion on scant volume, it began to draw more…
Following the tumbling of raw materials to a 25-year low in January, its worst result since 2001 was reported by BHP Billiton Ltd., the world’s biggest mining company, as its full-year underlying profit declined 81 percent. Melbourne-based BHP said Tuesday in a statement that in the year ended June 30, from $6.4 billion a year…
Official figures that show the UK’s construction industry, which was struggling even before the vote to leave the EU, has slipped back into recession for the first time in four years. Construction activity in the months ahead would be further dented as the business and consumer confidence in the business since the referendum has dropped,…
A tax return that Hillary Clinton’s campaign released on Friday shows that the Democratic presidential nominee and her husband, former president Bill Clinton, paid $3.6 million in federal income taxes from a total earning of adjusted gross income of $10.6 million in 2015. This release of data seemed to draw a contrast with her Republican rival,…
As Microsoft looks to continue to bolster the social aspect of its Xbox video game console, the technology giant announced Thursday that it has acquired gaming company Beam. Boasting of a community of over 100,000, Beam is a company that is just a few months old. The platform is unique as it lets viewers impact…
Up to $332.5 million in fees and costs for their work would be charged by the lawyers for Volkswagen AG vehicle owners who had worked in a $10 billion settlement over claims the automaker used software to cheat on emissions testing. This was revealed in a court filing in the case recently. The amount that…
A $160 million Series C funding round which brought the total funds raised to nearly half a billion dollars was completed by online used-car startup Carvana, known for delivering vehicles through vending machines. The company made this announcement. While declining to part with much of the investor details, along with existing and new investors, the…
