Volkswagen 2018 Volkswagen Atlas. Volkswagen just made a big move to win back its customers’ trust. The German automaker announced that its all-new 2018 Tiguan and Atlas SUVs, will come with warranties that beat competitors like the Honda CR-V and Ford Explorer.  Volkswagen said on Tuesday it will offer six-year or 72,000-mile warranties, whichever occurs first, for the […]

AP Volkswagen Group CEO Matthias Müller. On Wednesday, Volkswagen announced that it will to plead guilty to three felonies as part of its settlement with the US government stemming from the company’s emissions cheating scandal. In addition to the guilty pleas, VW will pay penalties and fines totaling $ 4.3 billion as well as “strengthen its […]

Reuters/Darren Staples Philip Clarke, Tesco’s former CEO. Tesco’s former chief executive Philip Clarke will not face any charges for his role in the accounting scandal that plagued the company in 2014, said Clarke’s lawyer, according to the Financial Times. Clarke was Tesco’s boss when it emerged that the supermarket chain had overstated its profits by an […]

REUTERS/Neil Hall ‘Very sorry’: Royal Bank of Scotland chief executive Ross McEwan. Britain’s financial watchdog on Tuesday said Royal Bank of Scotland was guilty of “systematic” mistreatment of distressed small businesses that came to it for help, but cleared the bank of the most serious allegation that RBS forced businesses into default for its own […]

Thomson Reuters Volkswagen CEO Matthias Mueller leaves after making statement at the VW factory in Wolfsburg Volkswagen released their latest batch of sales data for the US market on Tuesday and it wasn’t a pretty sight. Sales in the month of the October plummeted 18.46% over the same period last year and is down 13.09% […]

Larry Downing/Reuters Wells Fargo’s John Stumpf joins other TARP recipient financial institution leaders as they testify before House Financial Services Committee on Capitol Hill in Washington, February 11, 2009 Enron. Worldcom. The Madoff scandal. The mortgage meltdown. Now Wells Fargo.  High-profile corporate frauds like these all seem to follow the same pattern. First the misconduct is discovered, and then […]

Singaporean regulators have ordered Falcon Private Bank to cease operations in the island state, saying the bank breached anti-money laundering regulations in relation to its role in moving funds linked to troubled 1Malaysia Development Bhd (1MDB). The Monetary Authority of Singapore said the firm’s local branch manager has been arrested and Switzerland’s Financial Market Supervisory […]

REUTERS/ Shannon Stapleton Wells Fargo has fired thousands of employees and incurred fines totaling $ 185 million because of a widespread practice of employees opening new accounts for existing customers without their authorization. One remarkable aspect of this story is that the abusive practices were often unprofitable for the bank, where I worked from 2005 to 2009. As […]

Thomson Reuters File photo of VW sign outside a Volkswagen dealership in London The Department of Justice has found Volkswagen liable for criminal wrongdoing, CNBC first reported. Volkswagen is expected to face criminal and civil penalties for violating the Clean Air Act by installing software on vehicles that violates environmental standards meant to reduce smog, but prosectuors […]

Reuters/ Rick Wilking Jake Gottlieb, Visium’s founder. Visium Asset Management, the hedge fund at the center of an insider trading investigation, is shutting down, according to an investor letter seen by Business Insider.  Visium is shutting its flagship balanced fund, and has suspended withdrawals and redemptions requested from investors. “Any voluntary withdrawal or redemption requests submitted […]