What’s Going on in Finance Today
Coffee company’s CEO and others have been accused of fraud by the SEC. The former employees of Jammin’ Java allegedly schemed their way to $78 million in illicit profits. The elaborate scheme involved offshore intermediaries and phony online newsletters, among others. Get the specifics here.
Even companies who avoided the pitfalls of the 2008 recession still need to be prepared. Canadian banks learned this after having to convert $114 billion into securities in order to prevent taxpayer-funded bailouts. Learn more here.
CFO.com has the information you won’t find anywhere else on the web, get your financial news with us. Here’s today’s roundup.
But certain elements of the cash-flow cycle are causing them problems, according to TD Bank.
With fewer disclosures and less complexity in the tax code, firms could report timelier, more transparent financials, says Haskell & White’s Rick Smetanka.
Former Senate tax counsel Christopher Condeluci lays out a plan to replace the tax in a way that would meet both Democratic and Republican policy goals.
Not only that, they’re more likely to be promoted to the top job permanently if they do.
The frozen potato products business will become a separate company as ConAgra continues to sharpen its focus on key consumer brands.
The deal continues the acquisition spree among chipmakers that so far this year has exceeded $80 billion.
Despite the October drop, housing starts have topped 1 million units for seven straight months, indicating a continuing recovery.
The SEC alleges stock promoter Shane Whittle orchestrated a “pump-and-dump” scheme that artificially inflated the coffee distributor’s share price.
New global rules will require the banks to have a shock-absorbing cushion even though they avoided the 2008 crisis.
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