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A new study highlights the leaders and losers when it comes to CSR reporting. Whether it's due to regulation, pressure from stakeholders or genuine anxiety about the fate of our planet, climate change is becoming a boardroom issue. Or, at least, companies...
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The financial services company blames auction failures for its problems. The Securities and Exchange Commission and several state regulators have sent subpoenas and inquiries Wachovia Securities, LLC and the unit's affiliated firms asking for information...
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The IRS wins a victory over a former Worldcom employee who tried to claim a tax deduction for losses sustained when the scandal-ridden company collapsed. Here is a tale of woe, for at least one Worldcom shareholder. Mahdi Taghadoss was employed by WorldCom...
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Marking a $3.6 billion credit derivatives loss to market is different for an insurer than it is for a bank, the company complains. MBIA Inc., the the holding company of struggling municipal bond insurer MBIA Insurance Corp., posted a loss of $2.4 billion...
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Last week, the company decided to add $254 million to its second-priority loans. Delphi Corp., the bankrupt auto parts maker, is seeking approval from a bankruptcy judge to increase its loan package by $254 million because more lenders than expected are...
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Meet a finance chief who hires himself out to 10 companies at the same time. Sometimes, if Fred Haupt does his job right, a CEO will tell him he needs to be replaced — and that he'll be the one who has to track down his successor. Most finance...
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With a $35 billion endowment to oversee, the school's CFO is in the eye of a continuous storm over how the funds should be spent. To universities with smaller endowments, overseeing finance at the world's richest school might seem easy. But Harvard...
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Three months after its massive trading scandal, France's number-two bank has a new CFO. Didier Valen will take on the CFO position at Societe Generale, the French bank that was hit with a $7.5 billion loss this January from rogue deals made by junior...
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Willow Financial Bancorp has spent five months and $2 million to investigate why its books are off balance by $6.2 million. It still doesn't have the answers. After five months of trying to figure out why it couldn't find $6.2 million recorded...
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The soft-drink maker will file its financials late again, this time because of confusion over a foreign tax matter. Cott Corp. will file its results late for quarter ended March 29, its second straight such delinquency. The embattled soft-drink maker...
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FASB tries to help China speak the language of accounting. The Financial Accounting Standards Board, America's maker of accounting rules, reached out to China last week in an effort to nudge it closer to the fold of countries converging toward an...
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Despite warnings that the default rate will soar this year, investors pour cash into the market with growing zeal. Investors apparently are more hopeful about the U.S. junk bond market than the companies that rate the paper. There was a net inflow of...
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The lender looks to shore up its balance sheet and ease its capital-to-mortgage debt regulatory requirement. Fannie Mae has taken a big first step toward strengthening its balance sheet and loosening regulatory restrictions. As part of a plan to raise...
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A tight partnership between finance and IT is allowing AT&T to pinpoint the bottom-line impact of its Apple iPhone business. When the Apple iPhone became the must-have gadget among affluent technophiles last year, AT&T braced for the onslaught...
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The West's financial centres run red. The axe is now swinging with abandon. UBS unveiled yet another set of embarrassing quarterly results on May 6th and also announced 5,500 job losses, many of them at its investment-banking unit. The cull comes...
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