News

Corporate Finance

Rolls-Royce to Raise $6.5B to Ease Cash Crunch

The U.K. engineering company “has been driven to the fundraising by the worst crisis to hit the aviation industry."
M&A

SAP to Buy Customer Engagement Platform Emarsys

The deal comes as the company is spinning off Qualtrics.
Fraud

Three Former Manitex Execs Charged With Fraud

Former CFO Michael Schneider and two colleagues allegedly engaged in schemes that resulted in the crane maker’s revenue and profit being overstated.
Credit & Capital

Banks Wary of Fed’s Main Street Loan Program

Loan officers cited the financial condition of borrowers and overly restrictive terms for not approving loans under the key pandemic relief plan.
Retirement Plans

Pension Funds Allege Allianz Mismanaged Assets

Allianz Global Investors is facing six lawsuits after liquidating the hedge funds in question in March.
Regulation

Kroll Fined $2M for Violating Credit-Rating Rules

The SEC says Kroll failed to comply with rules for determining the ratings of commercial mortgage-backed securities and CLO Combo Notes.
Cybersecurity

Ransomware Hackers Hit UHS Hospital Chain

The attack on Universal Health Services left doctors and nurses scrambling to render care, with computers replaced by pen and paper.
Fraud

Ex-Amazon Employee Accused of Insider Trading

The manager in Amazon's tax department allegedly made illegal trades with two family members ahead of the company's earnings announcements.
Legal

Interface, ex-CFO Fined $5M for Inflating Earnings

The SEC says the carpet maker adjusted its accounting when its forecasts indicated it would likely fall far short of analysts' earnings estimates.
Fraud

Biotech Exec Charged With COVID Test Fraud

The SEC says Arrayit President Mark Schena falsely claimed the company had developed a test and it was awaiting emergency FDA approval.
Financial Performance

Costco Posts 11.4% Same-Store Sales Increase

The big-box retailer continued to benefit from shoppers stocking up on everything from food to patio furniture.
Technology

Ant Group Launches Cross-Border Trade Platform

"We look forward to making cross-border trading safer, more reliable, and more efficient for buyers and sellers."
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