Search Results for: EC
S&P to face legal challenge from councils
June 24th, 2014
Ratings agency Standard Poor’s has failed to avoid a legal battle with 91 councils, church groups and charities over investments that went bad during the global financial crisis. The Federal Court has denied the agency’s leave to appeal a ...
Japan reveals plans to cut corporate tax to below 30%
June 24th, 2014
Japan has unveiled plans to cut the country’s corporate tax to below 30% in several stages starting next year. The move is part of Prime Minister Shinzo Abe’s plan to revive the economy, a pledge made when he took ...
Don’t Shortchange Short Sellers
June 24th, 2014
More finance journalists and industry people should go to academic conferences. There is a lot of good stuff to learn. Case in point: I recently attended the Western Finance Association’s annual meeting in Monterey, California, and saw several papers ...
Canada Amends National Law to Regulate Bitcoin Businesses
June 24th, 2014
The Parliament of Canada has passed a bill that amends the country’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act of 2000 to extend to both foreign and domestic businesses working in the bitcoin and digital currency sectors ...
Rule Field Test Foretells Crunch in Closing the Audit
June 24th, 2014
Field testing of a proposed expansion of the auditor’s report suggests the new requirements will produce a new crunch in the closing phase of the audit, and auditors will need some additional guidance to assure they focus on the ...
Devon VAT fraud accountant jailed
June 24th, 2014
Devon accountant Robert Carpenter was jailed at Exeter Crown Court last week after pleading guilty to a £95,000 VAT fraud. The accountant from Barnstaple was sentenced to 12 months’ imprisonment and was also banned from being a company director ...
NFA’s Board approves prohibition of credit cards to fund retail forex accounts
June 24th, 2014
National Futures Association (NFA) announced that its Board approved a ban on the use of credit cards to fund retail forex and futures accounts. This prohibition is subject to approval by the Commodity Futures Trading Commission. Although NFA’s proposed ...
Oracle to buy Micros for $5.3 billion
June 24th, 2014
Oracle Corp. has agreed to buy Micros Systems Inc. for $5.3 billion as chief executive Larry Ellison seeks to reignite slowing growth by adding software for hotels and restaurants. Micros stockholders will get $68 a share in cash, 18 ...
Global Finance Functions chellenge for transformation
June 24th, 2014
ACCA (the Association of Chartered Certified Accountants) think-tank outlines 10 key requirements needed for effective finance function change. With ongoing pressures on the CFO organisation to drive the efficiency and effectiveness of the finance function, finance transformation continues to ...
Ex-Millennium Fund Manager Gets Four Years in Prison
June 24th, 2014
Former Millennium Global Investments portfolio manager Michael Balboa was sentenced to four years in prison for defrauding investors by inflating the value of Nigerian sovereign debt by $80 million. Balboa, convicted in December in a retrial in Manhattan federal ...
