Business

December 22, 2010

UK government borrowing hits record high

The amount of new public sector borrowing hit a fresh record high in November, according to the…

December 22, 2010

BAE Systems fined for Tanzania accounting offence

BAE Systems has been fined £500,000 for failing to keep proper records of payments it made to an adviser in Tanzania. The defence group paid £7.7m to two firms controlled by businessman Shailesh Vithlani ahead of winning a £28m Tanzanian military…

December 22, 2010

Cuomo Sues Ernst & Young Over Lehman

The New York attorney general on Tuesday sued Ernst & Young, accusing the accounting firm of helping Lehman Brothers, its client, “engage in a massive accounting fraud” by misleading investors about the investment bank’s financial health. The…

December 22, 2010

Deutsche Makes Deal In Tax Case

Deutsche Bank agreed to pay $553 million and admit to criminal wrongdoing on Tuesday, settling a long-running investigation into tax shelter fraud that prosecutors say generated billions of dollars in bogus tax benefits. In an agreement with the…

December 22, 2010

Stanford suspicions seen in the WikiLeaks cables

Financier Allen Stanford was suspected of irregular dealing, long before he was accused in a $7.2 billion Ponzi scheme, WikiLeaks cables report. WikiLeaks is the international cyber organization at the center of massive diplomatic and military…

December 20, 2010

Cuban president says economic changes will help sustain socialism

Cuban President Raul Castro told legislators Saturday that the country's economy would undergo significant change…

December 20, 2010

US tax cuts: Obama signs compromise deal into law

  US President Barack Obama has signed into law a compromise tax bill agreed with the Republicans, averting income tax…

December 20, 2010

Bangladesh investors riot over stock market fall

Hundreds of angry investors have staged protests in the Bangladeshi capital, Dhaka, after the…