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A shocking congressional report released this week revealed that a competition between Washington and New York prosecutors resulted in the “fraying” of a government investigation into one of the largest banks on Wall Street. The battle over which government agency would be first to resolve the case also allowed the company to learn of its imminent settlement terms before the government had all the information.
HSBC, directed by outgoing Chief Executive Stuart Gulliver, concluded a settlement with United States and United Kingdom prosecutors for $1.9 billion in 2012. Additionally, the bank agreed to five years of increased supervision to straighten out its anti-money laundering practices — a process that has been subject to criticism for
On Friday, July 15, Herbalife settled an over 2-year-old investigation with regulators that concluded it is not a pyramid scheme, which is a huge win against the company’s biggest opposition Bill Ackman.
The Post reports, “The deal with the Federal Trade Commission will force the nutritional shake maker to severely limit paying distributors for recruitment, and requires it to create a separate class of distributors that buy products only for their personal use.
In addition, the FTC, in
Israel’s Mobileye contributes its unique computer-vision and machine-learning technologies to realize the dream of self-driving vehicles
On July 1 in Munich, BMW Group, Intel and Jerusalem-based Mobileye announced that they are joining forces to bring solutions for highly and fully automated driving into series production by 2021.
The BMW iNEXT model will be the foundation for BMW Group’s autonomous driving strategy and will set the basis for fleets of fully autonomous vehicles, not only on
Rabbi Gutnick's fortune once totaled $230 million, and now his debts to foreign creditors are in excess of that.
Mining magnate “Diamond” Joe Gutnick, once ranked among the wealthiest men in Australia with a fortune totaling more than $230 million, has declared bankruptcy.
Gutnick, who is an ordained rabbi, made his fortune in gold and diamond mining on the advice of the last Lubavitcher rabbi, the late Rabbi Menachem Mendel Schneerson.
Gutnick declared bankruptcy on July 8, ahead of a court
Viacom is the world’s sixth largest broadcasting and cable company, currently based in New York City. Comprised of BET, Viacom Media Networks, and Paramount Pictures, it owns 170 networks total, including CBS, MTV, Comedy Central and Nickelodeon. It recently released the movie Teenage Mutant Ninja Turtles: Out of the Shadows, through Paramount Movie Studios. But the drama behind the scenes for control of the company is every bit as involving as anything the $40 billion media company has seen