Author Archives: Editor - Finance Top Stories

EEOC Investigating Mandatory Retirement Age for Law Firm Partners

The Equal Employment Opportunity Commission is investigating whether mandatory retirement provisions at Deloitte LLP violate federal employment law. The American Institute of Certified Public Accountants, the trade association for the profession, entered the fray yesterday, essentially urging the EEOC to … Continue reading

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Air Bag Recalls Renew Doubts About Carmakers’ Responses to Defects

A deepening crisis involving deadly air bags is shaking confidence in the ability of automakers including Toyota Motor Corp. and Honda Motor Co. to ensure the safety of millions of U.S. drivers. Toyota is advising U.S. owners to keep passengers … Continue reading

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Jury Finds Guardrail Maker Trinity Cheated Government; Liability Could Top $1 Billion

Trinity Industries Inc. faces a potential liability of $1 billion after a jury found the company defrauded the U.S. by deliberately withholding information about cost-saving changes to its highway guardrail system that potentially made it more dangerous. Jurors in Marshall, … Continue reading

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SterlingRisk Insurance Launches Aircraft Business Income Cover

SterlingRisk Insurance, a privately-owned brokerage based in Woodbury, N.Y., has launched aircraft business income coverage designed for both the aircraft owner and operator to protect their expected charter revenue from loss due to unscheduled maintenance and cancelled flights. The product … Continue reading

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A mega-bull’s playbook for market selloffs

There is no shortage of excuses when explaining why the SP 500 Index (^GSPC) has experienced a wild ride this month. Whether it’s the Ebola virus, the threat of ISIS or Europe’s weak economy, all three continue to create buying … Continue reading

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Gross move sees Janus fund inflows jump over 500%

The Janus Global Unconstrained Bond fund saw inflows jump over 500 percent in September after it was announced star fund manager Bill Gross left Pimco to manage the fund. The fund, still relatively small in size when compared to Gross’s … Continue reading

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Customer decline hits McDonald’s sales, profit

NEW YORK (AP) — McDonald’s says its profit and sales declined as the world’s biggest hamburger chain saw customer traffic fall around the world. The company said sales fell 3.3 percent globally and in the U.S. during the third quarter. … Continue reading

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Fed to Banks: Shape Up or Risk Breakup

WASHINGTON—Federal Reserve officials sent a warning shot across Wall Street on Monday, telling bank executives they must do more to curb excessive risk-taking and improve employee behavior at their firms or face stiff repercussions, including being broken into smaller pieces. … Continue reading

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Illinois Landowners Suing State over Fracking Permit Delay

Southern Illinois landowners are suing the state for failing to implement hydraulic fracturing, calling the long-running process for adopting rules governing the oil and gas extraction method tantamount to illegal government seizure of property already leased to developers. The lawsuit, … Continue reading

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P/C Insurers’ Reserves Redundancy to Continue: Moody’s

U.S. property/casualty insurers’ reserves will remain moderately redundant through the end of the year, Moody’s Investors Service has reported. “We expect moderately redundant reserves based on ongoing rate-firming, benign loss costs and enhanced underwriting standards,” said Moody’s Jasper Cooper, an … Continue reading

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