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Govt gets down to fact-finding
Published January 8, 2009, 10:06 am, Business Standard India
The corporate affairs ministry, which regulates companies registered in the country, is verifying facts relating to ‘overstatement of profits’ by Satyam Computer, and will initiate action against the management and external auditor of the Hyderabad-based software firm based on its findings.
UPDATE 2-NY Fed eyes Warsh, Dudley for next president -WSJ
Published January 8, 2009, 10:06 am, The Forex Market
NEW YORK, Jan 8 (Reuters) - Federal Reserve Governor Kevin Warsh and New York Fed official William Dudley are among the candidates being considered as president of the New York Federal Reserve Bank, The Wall Street Journal said on Thursday.
Griffith begins job of county judge
Published January 8, 2009, 10:05 am, Harrison Daily Times
JASPER — New Newton County Judge John Griffith was sworn into office Thursday, Jan. 1. Former Judge Harold Smith became ill and was hospitalized before their runoff election last November and wasn’t released until just before the holidays.
Disclosure is shocking, say other auditors
Published January 8, 2009, 10:04 am, Business Standard India
Auditors and lawyers today criticised the role of Satyam Computer auditor Price Waterhouse for its failure in detecting the fudged accounts of India’s fourth-biggest software maker and demanded a thorough inquiry. Price Waterhouse was also among the auditors of the failed Global Trust Bank.
Kingfisher saves crores by altering accounting norms
Published January 8, 2009, 10:04 am, Business Standard India
Full service carrier Kingfisher Airlines, through a change in its accounting principles, was able to save Rs 744.23 crore for the six-month period ended September 30, 2008, and Rs 129.50 crore for the quarter ended 30 September 2008.
Taro demands $15/share for merger with Sun
Published January 8, 2009, 10:03 am, Business Standard India
Israeli drug major Taro Pharmaceutical, which is battling a hostile takeover bid, has demanded a 58 per cent premium, or $15 per share, in cash to effect a merger with Sun Pharmaceutical Industries.
(AFX UK Focus) 2009-01-08 18:00 UPDATE 2-NY Fed eyes Warsh, Dudley for next president -WSJ
Published January 8, 2009, 10:02 am, Interactive Investor
NEW YORK, Jan 8 (Reuters) - Federal Reserve Governor Kevin Warsh and New York Fed official William Dudley are among the candidates being considered as president of the New York Federal Reserve Bank, The Wall Street Journal said on Thursday. Several others are also being considered to succeed Timothy Geithner as president of the New York Fed, and the bank's board will meet this weekend to review ...
Humane society may raise shelter fee
Published January 8, 2009, 10:01 am, Columbus Telegram
The Platte Valley Humane Society wants to double its fee for animal sheltering services provided to Platte County from $30...
Roles of independent directors exposed
Published January 8, 2009, 9:59 am, Business Standard India
Independent directors on the boards of many companies across various sectors said their roles remained relevant despite the Satyam episode.
Raju confesses to fraud, quits
Published January 8, 2009, 9:59 am, Business Standard India
Disclosure after DSP Merrill Lynch discovers irregularities; Company sets up SWAT team. In one of the darkest days in India’s corporate history, Satyam Computer Services Founder and Chairman B Ramalinga Raju resigned after saying he falsified earnings and assets.
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