It is very likely that the plaintiff, supported by Germany vocal consumer body MyRight, will appeal the verdict in Germany’s highest court – the BGH. A ruling by the BGH will be binding on the rest of the cases under… Read More ›
scandal
Tokyo prosecutors likely to indict Carlos Ghosn and Nissan
Regardless of the heat faced by Carlos Ghosn, Hiroto Saikawa, and Nissan Motor in the financial misconduct, the key question here is how is this going to impact the Nissan’s alliance with Renault! According to sources familiar with the matter… Read More ›
Commonwealth Bank of Australia appoints Alan Docherty as its CFO
On Monday, the Commonwealth Bank of Australia named Alan Docherty as its chief financial officer following an unexpected exit of the previous CFO in May 2018. The development comes in the wake of the lender facing one of its worst… Read More ›
Danske Bank’s CEO Thomas Borgen quits midst a $234 billion money laundering scandal
Investors concerns were largely driven by the potential involvement of U.S. authorities which led to the nose diving of Danske’s shares. On Wednesday, Thomas Borgen, Danske Bank’s CEO quit following a money laundering scandal which involved $234 billion (200 billion… Read More ›
VW’s shareholders seek $11 billion in damages over dieselgate
In a lawsuit aimed at Volkseagen, shareholders representing 1,670 claims, have sued the carmaker over inadequate disclosures; they have argued that if they would have known of dieselgate they would have the opportunity to sell or not buy VW’s shares…. Read More ›
Financial Reporting Council (FRC) accepts tougher measures against poor financial reporting by the Big Four audit firms
Although the measures adopted by the FRC are strong, in comparison to penalties imposed by Britain’s Financial Conduct Authority they are still small. On Monday, in a significant development, the Financial Reporting Council (FRC) disclosed that it has accepted the… Read More ›
German state authorities expand VW’s diesel emission scandal scrutiny with market manipulation angle
Authorities have already raided 13 offices in VW’s headquarters and have seized documents and electronic files from its computers. WirtschaftsWoche, a German Magazine has reported citing a spokesman from the state prosecutors office as saying, they have started fresh enquiries… Read More ›
Panama bans Odebrecht contract midst bribery admission
Odebrecht is facing a ban in winning future contracts in Panama unless it cooperates with Panamian authorities. With Brazil’s Odebrecht having admitted to bribing officials in Panama and other countries to snag government contracts, Panama has stated it will now… Read More ›
VW dismisses EU Lab test results
Although lab tests by the European Commission’s Joint Research Center show that Audi models have spewed out toxic gasses almost double than the permissible limit, VW has trashed the report saying, the tests did not factor in key parameters, including… Read More ›
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