Computer Sciences Accused of Medicaid Billing Fraud
CSC and its client, New York City, wrote software that fraudulently altered billing data to get paid more by Medicaid, says the U.S. Attorney's office.
Survey Finds ‘Confidence Action Gap’ Among Execs
Less than half of those in the C-suite say they are confident in their ability "to address obstacles specific to growth."
Oil Driller to Pay $5M to Settle Bribery Allegations
Layne Christensen Co. bribed officials in Africa to reduce its tax liability and avoid associated penalties for late payment, says the SEC.
Five Percent of Euro Banks Flunk ‘Stress Tests’
Twenty-five banks showed an insufficient common equity ratio of 5.5% or less, according to the European Banking Authority.
Banker Safra’s Group to Acquire Chiquita
The deal, worth $1.3 billion including debt, ends a three-month battle for the banana producer.
White House Unveils $300M Investment in Manufacturing
Among other objectives, the program will help equip small manufacturers to adopt cutting-edge technologies, said the White House.
Auditor Fined for Violating Partner Rotation Law
The case is part of the SEC’s Operation Broken Gate, designed to identify auditors who violate professional standards.
What Companies Can Do to Battle Employee Theft
One of the first steps: creating an environment that makes stealing as difficult as possible.
Supply Chain Headache at L.A. Port
Two-to-three week delays in moving cargo containers out of the port could cause problems for major retailers that are stocking up for the holidays.
Investors Suggest External Auditor Review of Audit Committees
“The work of the audit committee could be more transparent, and the evaluation of the auditor’s work could be more specific," says one former CFO.
Leveraged Lending Pullback Tied to Regulatory Scrutiny
Large U.S. banks may be heeding the warnings of regulators and staying away from highly leveraged deals.