U.S. Seeks to Grab $300 Million in Uzbek Telecom Bribe Probe
The Justice Department is seeking to seize $300 million claimed to be the proceeds of an international bribery conspiracy involving two Russian phone companies, as the U.S. joins a group of European nations in a telecom corruption probe. The U.S. claims VimpelCom Ltd., part-owned by Russian billionaire Mikhail Fridman, and Mobile TeleSystems OJSC used […]
Former head of Miami-based CompUSA agrees to SEC settlement
Financial regulators have accused the former head of CompUSA of engineering about $400,000 in kickbacks from the company’s suppliers. Federal investigators said Miami-based Gilbert Fiorentino allegedly “demanded” as much as $10,000 a month from one supplier to Systemax, the New York-based company that bought the CompUSA brand and eventually parted ways with Fiorentino over the […]
New boss, old tune: Yahoo’s Marissa Mayer reviewing strategy
In an SEC filing, Yahoo’s newly-appointed CEO hints at a restructuring and a new plan for the billions it expects from the company’s stake in Alibaba. Yahoo’s new CEO, Marissa Mayer, says in an SEC filing that she might restructure the business and, as a result, might not give back to shareholders the billions in […]
BB&T completes purchase of BankAtlantic
BB&T completed its purchase of BankAtlantic on Tuesday after passing its final regulatory hurdle in a deal that elevates BB&T’s presence in South Florida and closes the final chapter on a 60-year-old homegrown financial institution. The Federal Reserve Board of Governors and the Federal Deposit Insurance Corp. approved BB&T’s purchase early Tuesday, which gives the […]
Yahoo and its CEO: What’s the worst that could happen?
Chief Executive Officer Scott Thompson is accused of lying about his college education. Tempest in a teacup, or scandal in the making? Yahoo chief executive Scott Thompson has been accused outright of lying on his resume in an already brewing scandal dubbed “Resume-gate.” Carol Bartz: “LOL.” The whole debacle appears on the face of it […]