Monthly Archives: July 2015

E&Y Japan arm launches internal probe of Toshiba audit

A logo of Toshiba Corp is seen next to an advertisement board for its Regza television in TokyoThe Japanese affiliate of Ernst & Young LLC has launched an in-house investigation into its audit of Toshiba Corp in the wake of the electronics maker's $1.2 billion accounting scandal, a person with knowledge of the matter said. Ernst & Young ShinNihon LLC has established a team of about 20 executives to investigate whether there were any problems with how it conducted its audits of Toshiba, the person said. Last month an external panel of lawyers and accountants hired to probe Toshiba's accounts found the company had inflated profits by 152 billion yen ($1.23 billion) over seven years by postponing the realization of losses and other schemes.

Former CEO of collapsed Mt.Gox bitcoin exchange arrested in Japan: reports

Mark Karpeles, chief executive of Mt. Gox, bows at the start of a news conference at the Tokyo District Court in TokyoMark Karpeles, the former head of defunct bitcoin exchange Mt. Gox, was arrested on Saturday in connection with the disappearance of hundreds of millions of dollars worth of the virtual currency, Japanese media reports said. The French-born Karpeles, 30, is suspected of falsifying data on the outstanding balance of the exchange, at one point the world's largest hub for trading the digital currency, they added. When it filed for bankruptcy in February 2014, Mt. Gox said 750,000 customer bitcoins and another 100,000 belonging to the exchange were stolen due to a software security flaw.

Exclusive: Donald Trump’s companies have sought visas to import at least 1,100 workers

RICOH Women's British Open 2015By Mica Rosenberg, Ryan McNeill, Megan Twohey and Michelle Conlin NEW YORK (Reuters) – Donald Trump is staking his run for U.S. president in part on a vow to protect American jobs. Trump owns companies that have sought to import at least 1,100 foreign workers on temporary visas since 2000, according to U.S. Department of Labor data reviewed by Reuters. Nine companies majority-owned by Trump have sought to bring in foreign waitresses, cooks, vineyard workers and other laborers on temporary work-visa programs administered by the Labor Department.

Bush not a candidate? Super PAC’s spending reveals otherwise

Former Florida Governor Jeb Bush takes questions at a town hall meeting in RenoBy Michelle Conlin and Grant Smith NEW YORK (Reuters) – The first report of Republican presidential candidate Jeb Bush’s Super PAC, made public Friday, reveals for the first time, election lawyers say, just how much the group, Right to Rise, functioned as a kind of shadow campaign for Bush. The group shelled out $5.4 million from January through June for all the workaday line items, from travel to catering to political consulting, that have traditionally been paid for by candidates' campaign committees. The Super PAC's filing also reveals the gilded roster of Bush's top donors, a formidable collection of some of the world's most powerful and influential billionaires and GOP grandees, such as Coral Gables resident and private equity king Miguel Fernandez, who, with $3 million, was Bush's top donor.

Yahoo buys fashion website Polyvore

A Yahoo logo is pictured in front of a building in Rolle(Reuters) – Yahoo Inc said on Friday it agreed to buy fashion start-up Polyvore to help drive traffic and strengthen its mobile and social offerings. Yahoo, which did not disclose terms of the deal, said Polyvore will accelerate its 'Mavens' growth strategy. The company has been focusing on four areas — mobile, video, native advertising and social — which it calls Mavens, to drive user engagement and ad sales as it battles intense competition from Google Inc and Facebook Inc .

Apple, BMW in courtship with an eye on car collaboration

An employee holds BMW logo on production line of BMW C evolution electric maxi-scooter at BMW motorcycle plant in BerlinBy Edward Taylor and Julia Love FRANKFURT/SAN FRANCISCO (Reuters) – BMW and Apple may rekindle a courtship put on hold after an exploratory visit by executives of the world's top maker of electronic gadgets to the headquarters of the word's biggest seller of premium cars. Apple Chief Executive Tim Cook went to BMW's headquarters last year and senior Apple executives toured the carmaker's Leipzig factory to learn how it manufactures the i3 electric car, two sources familiar with the talks told Reuters. The dialogue ended without conclusion because Apple appears to want to explore developing a passenger car on its own, one of the sources said.