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ZURICH Gianni Infantino opened FIFA’s new museum in his first official act as president of soccer’s governing body on Sunday and said that implementing the wide-ranging reforms passed on Friday would be his immediate priority. The 45-year-old Swiss, previously... More »
ZURICH Gianni Infantino will mark his first working day as president of soccer’s governing body on Monday by playing in a soccer match with Swiss-based FIFA employees battered for months by an unfolding corruption scandal. The match symbolizes a return to the ... More »
The former JPMorgan Chase & Co trader who became known as the “London Whale” as his unit generated $6.2 billion of trading losses in 2012 said he is not to blame for the scandal and was made a scapegoat for decisions made by his superiors. In a roughly 2,100-w... More »
WASHINGTON Barclays (BARC.L) and Credit Suisse (CSGN.VX) have settled federal and state charges that they misled investors in their dark pools, with Barclays admitting it broke the law and agreeing to pay $70 million, federal and New York state officials said ... More »
SOFIA Bulgaria’s retired double Olympic wrestling silver medalist Stanka Zlateva said on Sunday she was once offered cash to lose a world championship final but had refused to do so. “I was offered money at a world championship but for me, it’s much more impor... More »
A federal appeals court on Friday set back Bank of New York Mellon Corp’s effort to recoup $312 million it lent to Sentinel Management Group Inc, a money manager that collapsed in 2007 and whose former chief is now in prison for fraud. The 7th U.S. Circuit Cou... More »
The hedge fund billionaire Steven A. Cohen has resolved U.S. charges related to insider trading, in an accord that clears the way for one of Wall Street’s top investors to soon manage outside money even after his former firm pleaded guilty to fraud. Cohen acce... More »
NEW YORK Viacom Inc (VIAB.O) was sued by a former vice president who said the media company fired her in retaliation for opposing its alleged plan to illegally avoid paying U.S. taxes on the international licensing rights for Teenage Mutant Ninja Turtles. In a... More »
Martin Shkreli, the pharmaceutical entrepreneur facing U.S. charges of securities fraud, has said he had been the target of legal authorities for his much-criticized drug-price hikes and his over-the-top public persona, the Wall Street Journal reported. Shkrel... More »
BRASILIA Brazilian President Dilma Rousseff’s key ally in Congress is certain it can head off an impeachment threat, but in return the party demands a radical change of policy course to pull the economy out of its deepest downturn in 25 years. Senator Eunicio ... More »
Two men including an oil equipment supply firm executive have been arrested on charges related to an alleged scheme to corruptly secure energy contracts from Venezuela’s state-owned energy company, the U.S. Justice Department said Sunday. Roberto Rincon, the p... More »
Martin Shkreli, the pharmaceutical executive facing U.S. charges of securities fraud, lost control of his Twitter account to hackers on Sunday, hours after he took to Twitter to plead his innocence, his spokesman said. “It was hacked,” Craig Stevens, a spokesm... More »
ZURICH The Swiss Justice Ministry said it had frozen millions of Swiss francs related to world soccer body FIFA, a spokesman said on Thursday, confirming a media report. “U.S. authorities asked for documents related to 50 accounts at different banks, through w... More »
NEW YORK Former Adelphia Communications Corp CEO John Rigas, who is serving a 12-year sentence for his role in a fraud that led to the cable company’s collapse, is seeking release from prison due to his “precipitously deteriorating health.” Lawyers for Rigas, ... More »
TOKYO Fifty individual shareholders of Toshiba Corp sued the Japanese conglomerate in Tokyo on Monday, seeking 301.99 million yen ($2.45 million) in damages after the firm’s stock plunged in the wake of a multi-billion dollar accounting scandal. The lawsuit ag... More »
NEW YORK The trustee liquidating Bernard Madoff’s firm on Friday began distributing another $1.19 billion to victims of the swindler’s Ponzi scheme. Irving Picard, the trustee, said the payout will boost distributions to more than $9.16 billion. Next week mark... More »
A New York-based investment adviser filed a class action lawsuit against Barclays Plc on Friday alleging that rigged foreign exchange trading practices at the bank caused “significant damages” to its trading partners. The suit by Axiom Investment Advisors LLC,... More »
U.S. film studio Relativity Media LLC is accusing its senior lender and two former executives of a secret plan to thwart its refinancing efforts, a factor that it said in court documents helped lead to its July bankruptcy filing. In a revised disclosure statem... More »
LONDON Britain’s “woefully inadequate” anti-money laundering system has left the country wide open to corrupt money and terrorism funds and needs radical overhaul, a leading anti-corruption group said on Monday. Each year billions of pounds of dirty money flow... More »
NEW YORK Bank of America Corp has reached a $335 million settlement of a federal lawsuit accusing it of misleading shareholders about its exposure to risky mortgage securities and its dependence on an electronic mortgage registry known as MERS. The second-larg... More »
Russian hackers had infiltrated Dow Jones & Co to steal information to trade on before it was made public, and the breach was “far more serious than a lower-grade intrusion” disclosed by the company, Bloomberg reported, citing sources. The Federal Bureau of In... More »
NEW YORK Two former Rabobank [RABO.UL] traders from Britain are set to become the first defendants to face trial in the United States on charges stemming from a global investigation into whether various banks sought to manipulate the interest rate known as Lib... More »
BERLIN Volkswagen’s (VOWG_p.DE) supervisory board will hold an extraordinary meeting on Wednesday at which finance chief Hans Dieter Poetsch is expected to be appointed as new head of the 20-member controlling panel, two sources said on Sunday. Europe’s bigges... More »
WASHINGTON The Pentagon’s Inspector General is investigating whether U.S. military personnel tried to get the U.S. government to pay them back for bills they racked up at casinos and strip clubs, using official travel charge cards. In May, the Pentagon watchdo... More »
FRANKFURT/HAMBURG Volkswagen (VOWG_p.DE) told U.S. dealers to halt sales of some 2015 diesel cars after regulators found software it designed for the affected vehicles gave false emissions data, the company said Sunday, announcing it had launched an investigat... More »
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. “T... More »
NEW YORK A Latvian man pleaded guilty on Friday to engaging in a scheme to transmit a computer virus that infected more than a million computers worldwide and caused tens of millions of dollars in losses. Deniss Calovskis, 30, pleaded guilty in federal court i... More »
TORONTO The owner of adultery website Ashley Madison had already been struggling to sell itself or raise funds for at least three years before the publication of details about its members, according to internal documents and emails also released by hackers as ... More »
GUATEMALA CITY Guatemalan Finance Minister Dorval Carias resigned on Monday amid a deepening corruption scandal that has also featured calls for the impeachment of President Otto Perez. A statement released by Carias’ office did not give a reason for his decis... More »
Infidelity website Ashley Madison and its parent company have been sued in federal court in California by a man who claims that the companies failed to adequately protect clients’ personal and financial information from theft, saying he suffered emotional dist... More »
TOKYO Tom Scott, a former U.S. executive at Toshiba Corp (6502.T), remembers his former boss Atsutoshi Nishida as an aggressive leader who could motivate staff but also rattle them with tough sales targets and an occasional dressing down. “He gave me goals tha... More »
TORONTO At least two people may have committed suicide following the hacking of the Ashley Madison cheating website, Toronto police said on Monday, warning of a ripple effect that includes scams and extortion of clients desperate to stop the exposure of their ... More »
KUALA LUMPUR A Malaysian opposition party on Wednesday filed a civil suit against Prime Minister Najib Razak and indebted state fund 1Malaysia Development Berhad (1MDB), saying they had violated electoral rules and a new election should be held. 1MDB, whose ad... More »
Credit Suisse Group AG (CSGN.VX) is in talks to settle allegations related to its Crossfinder “dark pool” trading venue, which could result in a fine running in the high tens of millions of dollars, the Wall Street Journal reported, citing people familiar with... More »
NEW YORK A Russian art dealer accused by Polish authorities of illegally acquiring an 18th-century painting stolen during World War II by the Nazis cannot be extradited from the United States, a Manhattan federal judge ruled on Monday. U.S. District Judge Jed ... More »
TOKYO Toshiba Corp’s (6502.T) chief executive Hisao Tanaka and a string of other senior officials resigned on Tuesday for their roles in the country’s biggest accounting scandal in years. Tanaka will be temporarily replaced by Chairman Masashi Muromachi after ... More »
NEW YORK U.S. presidential candidate Hillary Clinton would increase the incentives for corporate whistleblowers to come forward to report financial misconduct, she said on Monday. Answering questions from voters in an online chat, Clinton, the Democratic front... More »
SHANGHAI Chinese stocks fell on Tuesday, taking little comfort from a slew of support measures unleashed by Beijing in recent days, and unnerved by Chinese Premier Li Keqiang’s failure to mention the market chaos in a statement on the economy. Before the marke... More »
WASHINGTON AstraZeneca LP has agreed to pay $46.5 million and Cephalon Inc [TEVAE.UL] $7.5 million to resolve allegations that the two drug companies underpaid rebates owed under the Medicaid program, the U.S. Justice Department said on Monday. (Reporting by E... More »
SAO PAULO Swiss lender UBS AG made a whistleblower deal with Brazilian authorities investigating the suspected rigging of Brazil’s currency market and will receive no punishment in the case, a local newspaper reported on Friday. The investigation, which involv... More »
