The Public Company Accounting Oversight Board (PCAOB) said in hindsight at a recent budgetary meeting that the board and Chinese regulators are close to securing an agreement wherein US inspectors will be reviewing audits made by the Chinese accounting firms, including the local units of PricewaterhouseCoopers, KPMG, Deloitte and Ernst & Young.
Credit Suisse CEO Brady Dougan reiterated one of his plans to reduce the bank's annual costs by CHF4.5 billion after reporting a less than stellar fourth quarter results on Thursday.
According to court insiders, US fund manager Michael Carsley's company Aloga Ltd had dropped its case to pursue A$28 million or $25 million from collapsed horse betting club Edge.
The Seoul High Court rejected the appeal made by Lee Maeng Hee on the wealth of his brother, Samsung Electronics Co Chairman Lee Kun Hee. The High Court said the elder Lee, as well as four other family members who have filed claims on Chairman Lee's wealth, failed to provide proof for their claims.
