Trial began on Monday in a case that could impact not only future government bailouts, but also how large-scale litigation is financed.
Former AIG Chief Executive Sues Government with Wall Street Backing
The Corporation – An Alternative View Lecture Series: Can A Corporation Change the World and Make A Profit?
On September 29, 2014, the Berkeley Center for Law, Business and the Economy (BCLBE) hosted a lunchtime talk with Vivienne and Eric Harr about the entrepreneurship of Vivienne Harr and the stories behind her lemonade business and “Make a Stand.”
Treasury Attempting to Slow the Inversion Craze
United States companies are required by U.S. tax rules to pay taxes on profits earned elsewhere. Consequently, companies that receive a significant portion of their income from foreign sources are taxed both abroad and in their country of incorporation. Those companies are likely to use an inversion to lower their taxes – a strategy by which a company reincorporates overseas through a merger with a foreign counterpart, enabling the company to relocate its headquarters to a tax-friendly country. “Inverted” corporations still pay taxes on profits earned in the United States, but the inversion makes it easier for them to bring cash from overseas into the country.
For Brokerage Firms the Best Defense May Be a Strong Offense, but Fairness Concerns Draw the Attention of FINRA and Other Regulators
Recently, several brokerage firms have been accused of countersuing unhappy investors to intimidate them and to stymie their efforts to exercise their right to sue.
Guilty Plea from the Man Who Ate Tips
A man has pleaded guilty in federal court to securities and fraud charges stemming from his role as a middleman in an insider-trading scheme in which information was passed on post-it notes and restaurant napkins.
Conflicts of Debt Payment: Citigroup, Argentina, and Judge Griesa
Citigroup recently became engulfed in an ongoing battle between Argentina and New York hedge funds led by Paul E. Singer’s Elliott Management. In 2001, Argentina defaulted on a record $95 billion in debt. The majority (92%) of the debt holders agreed to exchange their bonds for new discounted bonds under a 2005 and 2010 restructuring, while others like Elliot’s NML Capital unit held out to seek full payment.
Money Market Reform
Money market funds (“MMFs”) act as a secure and liquid cash management vehicle for retail and institutional investors. MMFs enable investors to gain access to higher returns than interest-bearing bank accounts while providing principal stability and liquidity. They have proven to be very popular amongst investors, garnering over $2.5 trillion in assets.
Amazon Faces Tax Hurdle in India
Amazon’s expansion plans of $2bn into its e-commerce business in India has faced some major regulatory obstacles with the government in the southern state of Karnataka, where its local operations are headquartered. The company is accused of violating India’s FDI (Foreign Direct Investment) regulations by trying to make a “backdoor entry” into India’s retail business. Karnataka tax authorities have stopped Amazon from selling products from its warehouse by cancelling licenses of third-party merchants storing their products in Amazon’s warehouse near Bangalore.
Creating a Beer Behemoth: AB InBev Interested in Purchasing SABMiller
Over the last fifteen years numerous mergers and acquisitions have consolidated the global beer market into relatively few mega-corporations. What appears to be the next step in this trend is that AB InBev NV, the world’s largest brewing company, is reportedly interested in purchasing SABMiller PLC, the world’s second largest brewing company, for over $120 billion.
Brazilian Ex-Billionaire Eike Batista Facing Criminal Charges Including Insider Trading
Two and a half years ago he was the seventh wealthiest man in the world, worth an estimated $30 billion. Now with a net worth of less than $300 million, Eike Batista’s empire has crumbled before his eyes.