Capital 1 Financial US, international credit-card defaults rise in July; shares tumbleNEW YORK — Capital One Financial Corp. said Monday that defaults on its U.S. credit cards rose in July. ALL BUSINESS: Next stage in debate over executive pay focuses on what’s fair compensationNEW YORK — The scrutiny of executive pay in Washington isn’t knocking down the compensation of banks’ head honchos. It’s just changing what form the money comes in. Buffett’s Berkshire adds to J&J holding, buys stake in Becton Dickinson, cuts several holdingsOMAHA, Neb. — Billionaire Warren Buffett’s company revealed Friday that it had bought a new stake in medical supply company Becton, Dickinson & Co. and boosted its holdings in Johnson & Johnson during the second quarter. ConAgra CEO got nearly 27 percent boost in fiscal 2008 compensationMILWAUKEE — The chief executive of ConAgra Foods Inc. received a nearly 27 percent boost in compensation in 2009 in a package worth $10.1 million, according to an Associated Press calculation of figures filed with regulators. Most of it came in stock options and restricted stock that haven’t vested. Colonial Bancgroup tells SEC it can’t file 2Q report due to accounting irregularitiesMONTGOMERY, Ala. — Colonial Bancgroup has advised the Securities and Exchange Commission it will not be able to file a second-quarter financial report because of alleged accounting irregularities now being investigated. National Semi CEO gets fiscal 2009 compensation valued at $3.9 millionNEW YORK — The CEO of National Semiconductor Corp. saw the value of his compensation package decline 36 percent in fiscal 2009, according to an Associated Press calculation of figures disclosed in a regulatory filing. GM must convince consumers of long-term strength; to register 3.5 bln shares for sale in 2010DETROIT — The new General Motors Co. said Friday it was worried about regaining consumer confidence following its exit from Chapter 11, and that its sales won’t improve in 2009 as U.S. economic troubles continue. Among the biggest of oil speculators, US oil funds says it’s not the boogie manNEW YORK — John Hyland’s funds control billions of dollars that flow in and out of energy markets, making him one of the biggest oil speculators in the world and also one of the biggest potential targets for federal regulators. TVA raises coal ash spill tab to $1.2B; blames disaster for $167M loss in 3rd quarterKNOXVILLE, Tenn. — The Tennessee Valley Authority raised its estimates for cleaning up a massive coal ash spill to $1.2 billion on Friday, and partly blamed its third-quarter loss of $167 million on that cleanup. Beazer Homes adopts shareholder rights plan aimed at preserving tax benefits from prior lossesATLANTA — Homebuilder Beazer Homes Inc. on Friday said its board adopted a new shareholder rights plan aimed at preserving the tax benefits it can book from its prior losses. SEC accuses Phoenix-based company of orchestrating large mortgage lending scamLOS ANGELES — The Securities and Exchange Commission has charged four people and a Phoenix-based company with securities fraud for orchestrating a mortgage lending scam that raised nearly $200 million from investors. Federal Reserve Chairman Bernanke saw net worth drop by one-third in 2008WASHINGTON — If your investments didn’t fare so well last year, here’s a small consolation: Neither did Fed Chairman Ben Bernanke’s. Clarification: Reid-Financial DisclosureWASHINGTON — In a story June 23, The Associated Press reported that Senate Majority Leader Harry Reid, D-Nev., filed 42 pages of amended disclosure reports for 2000 through 2006 providing a fuller accounting of a property deal in Nevada. Reid files amended financial disclosure reports for 2000 through 2006WASHINGTON — Senate Majority Leader Harry Reid filed 42 pages worth of amended financial disclosure reports Thursday for the years 2000 through 2006 to more fully account for a land deal in Las Vegas and to more accurately reflect the value of some other properties he owns. Medtronic raises CEO Bill Hawkins’ compensation 26 percent to nearly $9 million in fiscal 2009WASHINGTON — Medtronic Inc., the world’s largest medical device maker, paid Chief Executive Bill Hawkins $8.9 million in total compensation for fiscal 2009, a 26 percent increase, according to an analysis by the Associated Press. Free markets still the best policy, says Tokyo Stock Exchange chiefTOKYO — The head of the Tokyo Stock Exchange, the world’s second-biggest bourse, doesn’t like what he sees in the wake of the global financial crisis. SEC probing Regions Financial investment unit and 3 staffers on mutual funds, filing saysNEW YORK — Regions Financial Corp. says its investment banking subsidiary and three employees received notice from the Securities and Exchange Commission that the regulator is investigating possible violations of federal securities laws. Feds: Fugitive in NY securities fraud case capturedNEW YORK — Federal authorities say they have captured a former Wall Street broker who became a fugitive after being charged in a securities fraud case. Madoff arrives at NC federal prison to begin 150-year sentenceBUTNER, N.C. — Bernard Madoff’s life of luxury is a thing of the past. The disgraced financier blamed for what is believed to be the largest Ponzi scheme in history arrived Tuesday at a federal prison in North Carolina to begin a 150-year sentence in a cell with two bunk beds, a toilet and a sink. H&R Block’s Smyth receives $5.3 million in fiscal 2009 compensation as he takes over as CEOKANSAS CITY, Mo. — H&R Block Inc. CEO Russell Smyth received compensation valued at $5.3 million in fiscal 2009, the year he took over leadership of the nation’s largest tax preparer. Ameriprise paying $17.3 million to settle SEC charges of not disclosing certain paymentsWASHINGTON — Ameriprise Financial Services Inc. on Friday agreed to pay more than $17 million to settle federal regulators’ charges that it failed to disclose nearly $31 million received for selling certain investments to its brokerage customers. As Palin steps down, a look at finances shows toll of ethics complaint on her and AlaskaANCHORAGE, Alaska — Since Sarah Palin abruptly resigned as governor, she has repeatedly cited the bombardment of ethics complaints against her while conceding the financial burden of defending herself had taken its toll. Smithfield CEO paid $1.8M in fiscal 2009, a 49 percent cut, as hog producer lost $190.3MNEW YORK — Smithfield Foods Inc. CEO C. Larry Pope received compensation valued at $1.8 million for fiscal 2009, 49 percent less than the year before, according to a Securities and Exchange Commission filing Thursday. Metabolix board adopts shareholder rights plan aimed at guarding company from hostile takeoverCAMBRIDGE, Mass. — Bioscience company Metabolix Inc. on Tuesday said its board adopted a shareholder rights plan, commonly called a “poison pill,” aimed at thwarting attempts at a hostile takeover. Nebraska regulators order Omaha investment manager to quit violating law with improper feesOMAHA, Neb. — Nebraska regulators have ordered an Omaha investment adviser to quit violating state securities laws and appear at a hearing to defend his practices. Federal prosecutors in file criminal fraud conspiracy charges against Beazer HomesATLANTA — Federal prosecutors in North Carolina have filed criminal fraud conspiracy charges against Beazer Homes USA. Bernie Madoff sentenced to spend remainder of life in prisonBernie Madoff joins long white-collar prison roll A look at some other figures serving time for their involvement in high-profile financial scandals: State Street subsidiary could face civil charges for alleged securities violationNEW YORK — State Street Corp. on Monday disclosed in a regulatory filing that the Securities and Exchange Commission could bring civil charges against its main subsidiary for possible securities violations tied to past investments in subprime mortgages. Bernard Madoff sentenced to maximum 150 years in prison for vast fraud schemeNEW YORK — A federal judge rejected Bernard Madoff’s plea for leniency Monday, sentencing the 71-year-old swindler to spend the rest of his life in prison for an “extraordinarily evil” fraud that took a staggering toll on thousands of victims. Victims urge stiff term for Madoff at convicted swindler’s sentencing in NYCNEW YORK — Bernard Madoff’s fraud victims are urging a stiff sentence for the mastermind of a multibillion-dollar fraud scheme. |
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