December 22, 2010
Yankees’ luxury tax down from ’09
The New York Yankees lowered spending on players by $12 million this year, cutting payroll by $5 million and slashing their major league-leading luxury tax by more than $7 million. New York was hit with an $18 million luxury tax Tuesday by…
December 22, 2010
Emerging nations more upbeat on 2011 than G7: survey
Power and prosperity are shifting to the east and to emerging economic nations, a new global poll says. The survey of economic prospects for 2011 suggests the biggest number of optimists live in countries like China, Brazil and India. The survey,…
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
Michael Jackson’s Neverland to become Music School?
The owners of Michael Jackson’s famous Neverland ranch are reportedly interested in turning the property into a…
December 22, 2010
Will Smith, Mark Wahlberg Offered $1M to Fight Each Other
A boxing promoter is reportedly offering Will Smith and Mark Wahlberg $1 million to face-off in the ring on Feb. 26 in Las Vegas. The theme: a match between two movie-trained boxers – Smith for “Ali” and Wahlberg for “The Fighter.” Damon Feldman of…
December 22, 2010
Shaquille O’Neal Conducts the Boston Pops
The Boston Globe now refers to him as “The Big Maestro.” NBA star Shaquille O’Neal – in traditional black tie and tails – was the featured guest conductor for the Boston Pops Orchestra and Tanglewood Festival Chorus during a concert Monday (Dec.…
December 22, 2010
Hot 97 DJ Apologizes for Offending Haitians
DJ Cipha Sounds of New York’s Hot 97 has angered local leaders and members of the Haitian community after saying on-air Friday morning, “The reason I’m HIV negative is because I don’t mess with Haitian girls.” The jock, whose real name is Luis…