Should SEC Heed Trump To Stop Quarterly Earnings Reports?

President Donald Trump is no stranger to starting controversies with his tweets. His latest one has caused a few waves in financial circles. Citing a talk with Pepsi’s outgoing CEO Indra Nooyi, Trump said that instead of quarterly financial reports,

Read More

Facebook Responds To WSJ Report On Financial Data Requests

Facebook is once again the target of controversy. After the PR debacles earlier this year and the recent downturn in its stock prices, the social media giant seems to have slipped again as the Wall Street Journal reported Facebook recently

Read More

UK Watchdog To Investigate KPMG Over Carillion Auditing

Accounting firm KPMG will be investigated by the UK industry watchdog in regards to its auditing of accounts of the collapsed construction firm Carillion. The construction firm was connected to the renovation of the Battersea Power station as well as

Read More

Kushner Companies Transactions Flagged As ‘Suspicious’

Deutsche Bank is reported to have flagged multiple transactions carried out by Kushner Companies. According to a Hamburg-based business magazine known as Manager Magazin, the bank is also prepared to turn over the documents relating to the flagging to Special

Read More

MoneyGram Sale Blocked Due To US National Security Concerns

China’s Ant Financial which is a subsidiary of Jack Ma’s Alibaba Group Holding Ltd was in the process of acquiring MoneyGram for $1.2 billion as the Chinese conglomerate was expecting to complete this strategic acquisition and then challenge China’s Tencent

Read More

PayPal Ordered To Disclose Canadian Customer Data From 2014

PayPal recently announced that it had received an order from the Federal Court of Canada to submit all business customer account information dating from Jan 2014 till the date the order was received – which is November 10, 2017. The

Read More

Credit Suisse Hit With $135 Million Fine For Forex Violations

New York’s State Department of Financial Services (DFS) announced this week that they had decided to impose a fine of $135 million on French bank Credit Suisse for a number of forex violations that occurred between 2009 to 2015. Credit

Read More

Nokia sees poor demand for telecom equipment in FY18

Due to technology transition, heavy competition from China, and operator consolidation in some countries, the erstwhile mobile handset manufacturer, Nokia Corp (NYSE: NOK) reported a 7% y-o-y decline in the fiscal 2017 third quarter revenue. The non-IFRS operating profit of

Read More

Citi fined $550,000 by CFTC over improper LEI reporting

The stock of global banking and financial institution Citigroup Inc (NYSE: C) had a tremendous run up in September. The stock, which closed at $73.80 yesterday, had gained about 12% in a month. The hawkish stance of the Fed and

Read More

Orders raining for Boeing, Deutsche bank upgrades PT

Last week, the stock of Boeing Co (NYSE: BA) gained about $10 to record a new yearly high of $256.69. The company has received a series of large orders, including the one from the US government, in September. That was

Read More