Word: moneyitis
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...dirt is still tumbling out. On Nov. 24, the country's Central Bureau of Investigation (CBI) released findings that show the alleged fraudulent accounting and embezzlement was far larger than originally thought. Raju and nine accomplices skimmed some $2.5 billion from the company, according to CBI investigators, funneling the money into a collection of assets and property that could make even a profligate Bollywood star blush...
...unclear whether Satyam's new owner, Tech Mahindra, will benefit as assets are identified and recovered. Tech Mahindra bought a 47.2% stake in the tainted company for $600 million in a government auction in April. If the fraud money reappears as assets in the name of the company, its good news for Tech Mahindra, which paid a huge sum for Satyam and its liabilities, says Suresh Talwar, partner at Mumbai-based law firm Talwar Thakore & Associates, Satyam's corporate counsel until 2006. It could be a bonanza for shareholders, too, in the form of dividends or bonus shares, he says...
...Dubai jumped and the dollar strengthened as investors rushed back into greenbacks. On Friday afternoon, stock markets made something of a recovery as analysts took a second look at what Dubai's proposed repayment halt means. Eighty billion dollars - Dubai's total liabilities - may sound like a lot of money but in the context of the past year, it's not huge. And while banks like HSBC and Barclays have billions in exposure to Dubai, they are also better capitalized than they were a year ago, and thus more able to withstand hits of this size...
...fared relatively well. Not only is the Middle East less integrated into global financial market than other regions, but oil prices have risen again since their initial decline last year. Unlike Dubai, the oil economies of the Middle East have been more sober during the boom years, putting their money in massive infrastructure projects, building cultural institutions, and keeping big piles of cash on hand for a rainy day. Dubai may want to do the same...
...from going lower. An online skirmish with Amazon.com that started with $9 hardcover books (books normally sold for three times that amount) has dominoed into other categories, driving down prices on everything from mobile phones to Easy-Bake ovens. The deals are everywhere. (See pictures of expensive things that money...