San Francisco: Google Inc canceled thousands of stock options and stock units awarded to its chief business officer in April and said it would instead pay him $8 million in cash. Nikesh Arora, who oversees Google's revenue operations as well as marketing and partnerships, will receive the payment on May 11, according to a filing Google provided to the US Securities and Exchange Commission on Monday. The change means Arora...
10:44 AM, May 01, 2012
Washington: PepsiCo's Indian-born chairman and chief executive Indra Nooyi received $17.1 million in compensation in 2011, a 5.8 percent increase from her 2010 package, according to a regulatory filing. The increase was driven largely by changes in the value of her retirement benefits at PepsiCo, according to the Securities and Exchange Commission filing released on Friday. Nooyi, 56, who has been the soft drink major's chief executive since 2006, got...
10:05 AM, Mar 24, 2012
Washington: Citigroup has agreed to pay $ 285 million to settle civil fraud charges that it misled buyers of a complex mortgage investment just as the housing market was starting to collapse. The Securities and Exchange Commission said on Wednesday that the big Wall Street bank bet against the investment in 2007 and made $ 160 million in fees and profits. Investors lost millions. Citigroup neither admitted nor denied the...
11:04 AM, Oct 20, 2011
New York: The US Securities and Exchange Commission has dropped its administrative action against former Goldman Sachs director Rajat Gupta in the hedge fund billionaire Raj Rajaratnam-linked insider trading probe but said it could still pursue charges against him in court. In a two-page filing, the SEC said: "the Commission has determined that it is in the public interest to dismiss these proceedings," which it had initiated against the Indian-American...
11:14 AM, Aug 05, 2011
Washington: Rajat Gupta, a former Indian American managing director of the global consulting firm McKinsey & Co, accused by US regulators of inside trading "has lived a double life," a leading US daily has suggested. In March, the US Securities and Exchange Commission (SEC) filed an administrative order against him saying that he had passed confidential information to hedge fund billionaire Raj Rajaratnam. Government wiretaps and phone records show that...
09:28 AM, May 23, 2011
Washington: US market regulator SEC on Tuesday said that India's fraud-hit Satyam Computer Services, now Mahindra Satyam, has agreed to pay $10 million to settle charges related to the accounting scam by its promoter B Ramalinga Raju. It also said five India-based affiliates of Price Water House Coopers (PWC), auditors to Satyam Computer, have agreed settle the SEC charges and pay $6 million in penalty. "Satyam, whose new leadership cooperated...
11:52 PM, Apr 05, 2011
Houston: Subway has surpassed McDonalds to become the largest restaurant chain on the planet and is now spread out more globally than McDonald's. The sandwich chain surpassed the world's largest hamburger chain in terms of number of stores in the US in 2002 and now it has taken the global lead. According to information released by the Securities and Exchange Commission last month, Subway has a total of 33,749 restaurants...
02:11 PM, Mar 10, 2011
Financier Allen Stanford surrenders to FBI, accused of fraud. ...
12:25 PM, Jun 19, 2009
Stanford was accused in civil charges of lying about the safety of investments. ...
09:48 AM, Feb 18, 2009
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