Although accounting regulator the Public Company Accounting Oversight Board (PCAOB) said Deloitte Touche Tohmatsu Limited failed to correct its irregularities in its audit work seen in 2009, it lauded the accounting firm for making efforts to rectify irregularities found by the board during its review in 2010 and 2011.
Legal & Regulatory
Israeli computer scientists uncover Dread Pirate Roberts-Satoshi Nakamoto connection
A report from Israeli scientists explored the connection between the arrested operator of Silk Road Ross William Ulbricht and the secretive inventor of the digital currency bitcoin Satoshi Nakamoto.
Nonprofit that flipped homes to investors faces scrutiny
A U.S. housing regulator has been investigating the activities of a small California not-for-profit that bought hundreds of foreclosed homes through a federally backed program intended to help local communities hurt by the housing bust, according to government documents reviewed by Reuters.
Insurance can now bypass Obamacare website whilst tech firms are still waiting
The federal government is optimistic that it can get enough people to purchase health insurance. It is also testing an option whereby consumers can directly purchase insurance aside from going to the state websites since it is still malfunctioning.
New peer to peer lending platform, Daric goes live next week
Daric, a new peer to peer lending platform will go live on Nov 27th, 2013 barring any unforseen regulatory issues. The platform differentiates itself by focusing on user experience and less hassle without borrowers needing to upload any files in the application side.
Latest News
Drayton McLane Jr, Comcast and NBC Universal said that Jim Crane's claim that they cheated him out of the acquisition deal of US professional baseball team the Houston Astros was ludicrous.
Kareem Serageldin, a former banker of Credit Suisse, was sentenced to 30 months in prison for his role in the scheme that inflated the prices of subprime mortgage bonds artificially at a time when housing and credit conditions were taking a turn for the worse.
Tesla CEO Elon Musk is confident that the Model S vehicle would soon be cleared and deemed safe by federal investigators. He isn't expecting a recall and said Tesla engineers are not currently working on any fixes for the vehicles and has instead amended its warranty to cover fire loss in crashes.
AT&T, Verizon Communications, and even tech companies like Google, Microsoft and Yahoo had been pushing for the US government to allow them to publish surveillance orders to appease shareholders in light of the revelations by NSA whistleblower Edward Snowden.
Microsoft Corp. is set to secure a European Union (EU) approval for its proposed USD7.3 billion takeover of Nokia's mobile phone business. Regulators from various countries had already given the green light to the deal.
The Japanese Ministry of Health, Labor and Welfare approved EYLEA (aflibercept) Injection to treat macular edema following Central Retinal Vein Occlusion, expanding Regeneron Pharmaceuticals Inc's reach in the Asian market.
Federal Governor Daniel Tarullo said regulators should put their attention not only on banks but on the shadow banking system as well. He said policy options for shadow banks needed to be reformulated to counter its risks.
The European Commission is looking at the way container-shipping companies announce their price increases, saying it may be possible that they are colluding with each other to rig prices.
The US Department of Justice objected to four restructuring plans put forth by bankrupt LightSquared and its creditors. The objection will be discussed at a bankruptcy court hearing on December 10 in Manhattan.
