US Senate, House agree on Corp Responsibility Bill
Washington: In an attempt to crackdown on a string of corporate accounting scandals that have unnerved investors and the stock market, US Congressional negotiators have approved the Corporate Responsibility Bill, providing stiff criminal penalties for corporate fraud and an independent board to oversee accounting firms.
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Buffett lashes out on stock option a/c
New York: Warren Buffett, the billionaire investor whose every move is closely watched by Wall Street, fired off another salvo on in his crusade to get corporations to expense stock options, an issue gathering steam in the wake of recent accounting scandals.
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US lawmakers get moving on corporate crackdown
Los Angeles: US lawmakers agreed on Wednesday to put to a final vote the most sweeping corporate crackdown since the Great Depression, which would impose new oversight on accountants and set stiff penalties for corporate corruption.
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Diageo sells Burger King
London: British-based drinks firm Diageo said on Thursday it was selling the world's number two hamburger chain Burger King for $2.3bn to a private equity consortium backing the fast-food firm's management.
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Honda sues China to regain patent
Honda Motor Co on Thursday sued the Chinese government to reclaim a motor-scooter patent it contends was stolen by three Chinese companies, saying it wanted to protect whats ours in Chinas chaotic business landscape.
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Kodak rolls out $284 mn profit in Q2
New York: Although burdened by a nearly two-year slump in film sales, Eastman Kodak earned $284 million in the second quarter and beat Wall Street's elevated forecasts.
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US employment costs index rose in second quarter
Washington: Pay for US workers rose at its fastest pace in a year in the second quarter and benefit costs picked up as well, fueling a rise in overall compensation costs that was a touch more than expected, the Labor Department said on Thursday.
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Recordati H1 net profit rises 18.3% on year
Rome: Italian pharmaceuticals group Recordati said on Thursday first-half net profit rose 18.3 per cent from last year to 20.8 million euros, thanks to strong international revenue growth. Sales climbed 18.9 per cent to 254 million euros.
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Sony Q1 profit leaps 17-fold post Spider-Man
Tokyo: Sony, the world's largest consumer electronics maker, reported on Thursday a surprisingly strong rise in first-quarter operating profit, which leapt 17-fold, fuelled by its Hollywood hit 'Spider-Man' and brisk electronics sales.
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Xerox Corp posts profit in Q2
New York: Office equipment company Xerox Corp, in its first quarterly report after changing accounting methods under pressure from US regulators, on Thursday posted a surprising second-quarter net profit, due to its aggressive cost-cutting efforts.
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