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.
North America
Accounting firm regulator see deficiencies in Deloitte for the second time
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.
Owner sues seller, media companies over misinterpretation of Houston Astros value
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.
Colorado building and battery startups receive funding from investors
Colorado-based building and battery startups Prescient, Boulder Ionics, and RoundPegg announced that they received funding from investors this week, which will be used for expansion and development.
TPG sees many opportunities in health-care cost containment
TPG Capital believes there are still many opportunities can still be found in the cost-saving goal of the country's current health-care reform, as stated by a principal at the megafirm.
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California-based Green Dot Corp. intends to buy GE Capital's Wal-Mart branded prepaid debit cards. The deal will bring in over USD276 million in total deposits to Green Dot's bank in Utah.
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.
Chinese real estate developer Sichuan Xinglida Group Enterprises Co bought the Torrance Marriott hotel in South Bay, California for USD74 million, according real estate broker John Strauss.
NBC Universal is close to getting a minority stake in a new company being formed by technology journalists Walt Mossberg and Kara Swisher whom runs AllThingsD from sources whom are familiar with the situation.
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.
US-based education startup Coursera added another USD20 million to its USD43 million Series B funding, bringing in a total of USD63 million for the round.
New York's Sycamore Partners LLC is nearing a deal to acquire apparel retailer Jones Group Inc. The private equity firm is reportedly offering a price of USD16 per share, totaling the size of the deal to USD1.3 billion.
As far as investors go, there are two sides to the Bitcoin - to bet or not to bet in the digital currency. Joe Light, in his Wall Street Journal report, provided these two sides.
