Alex Wong/Getty Images
Eugene Ludwig, second left, founded Promontory Financial after serving as President Bill Clinton’s Comptroller of the Currency.
Ex-Regulators Find Home With a Powerful Firm
By BEN PROTESS and JESSICA SILVER-GREENBERGPromontory Financial is a consulting firm stocked with former government officials and paid billions by banks to help it navigate an onslaught of new regulations.
Brendan McDermid/Reuters
KPMG withdrew Herbalife audits because a KPMG partner had leaked data.
KPMG Cancels Audits Over Insider Trading Inquiry
By PETER LATTMAN and MICHAEL J. DE LA MERCEDKPMG resigned as auditor for Herbalife and Skechers and withdrew audit reports after a KPMG employee was found to have given information on clients to a third party.
Documents: Herbalife statement
K.K.R. Hires New Japan C.E.O.
A new chief executive for the private equity company’s Japan unit is the latest in a series of senior appointments for K.K.R. in Asia, as it seeks to close a new $6 billion Asian fund and to expand regionally beyond the traditional buyout business.
ConAgra Foods, via Reuters
ConAgra Foods is one of several companies that is vulnerable to a takeover, according to a new report.
Report Identifies Companies Vulnerable to Activist Takeovers
Fifth Third Bancorp, Ameren and ConAgra Foods re among the companies that would be the most vulnerable to takeover by activist investors, a new study by a research firm finds.
Harry Campbell
In the Markets, at Least, Fannie and Freddie Still Astound
The mortgage finance companies Fannie Mae and Freddie Mac are in conservatorship and the government wants to wind them down. Yet their share prices have jumped this year.
Tina Fineberg for The New York Times
A J.C. Penney store at the Manhattan Mall near Herald Square in New York.
A Solution for Penney May Be to Sell Itself, or Some of Its Assets
With Ron Johnson’s ouster this week, J.C. Penney, a 111-year-old retail chain, is scrambling to ensure that it has a future at all. And the solution may be a sale of some or all of the company.
J.C. Penney Shows How the Market Overvalues the C.E.O.
Even if Ron Johnson’s ideas had been the right ones, big organizations with entrenched people and cultures are hard to turn around
Bird Flu Concerns and North Korean Jitters
Beijing has allowed remarkable transparency in the coverage of the bird flu outbreak. Living in Beijing, I have to hope the transparency is real.
Reuters
James Crosby in 2001.
Former British Bank Chief to Give Up Knighthood
James Crosby, a former chief executive of HBOS, says he will ask authorities to remove his knighthood in light of a damning report published last week that blamed him in part for the mortgage lender’s 2008 collapse.
Ross D. Franklin/Associated Press
A foreclosed home in Queen Creek, Ariz. Major lenders agreed to a $9.3 billion pact with regulators to settle claims of foreclosure abuses.
First Checks to Be Issued in Mortgage Settlement
Months after brokering a multibillion-dollar settlement with banks over mortgage foreclosure abuses, the Federal Reserve and the Office of the Comptroller of the Currency are set to dole out roughly $1.2 billion in cash relief in the first batch of payments to troubled borrowers.
Big Dell Shareholder Prefers 2 Rival Bids
Southeastern Asset management says that proposals from the Blackstone Group and Carl C. Icahn are superior to the $13.65-a-share offer from Michael S. Dell and the private equity firm Silver Lake.
Phelan M. Ebenhack/Associated Press
Trainers working with killer whales at SeaWorld in Orlando, Fla., in 2011.
SeaWorld Seeks Up to $540 Million in I.P.O.
In an amended prospectus on Tuesday, SeaWorld Entertainment said it planned to sell 20 million shares at $24 to $27 apiece.
J.C. Penney Ousts a Leader Ackman Championed
J.C. Penney replaced its chief of 17 months with his predecessor. | Big investors are battling over the fate of Energy Future Holdings. | Mary Jo White is confirmed as the new leader of the S.E.C. | Margaret Thatcher, who died on Monday, had doubts about a “European superstate” that resonate today.
Lagardere Sells Stake in EADS for $3 Billion |
The French conglomerate Lagardère said on Tuesday that it had raised 2.3 billion euros ($3 billion) from the sale of its 7.4 percent holding in EADS, the parent company of Airbus. The move is part of a major shake-up in the ownership structure of the European aerospace giant. Read more »
Matt Dunbar/Association of Surfing Professionals, via Associated Press
Billabong sponsors surfing competitions around the world.
Billabong in Talks Over $300 Million Takeover
The Australian surfwear company Billabong said on Tuesday that it was in talks to sell itself for $300 million to a consortium led by its former American chief executive, Paul Naude, and the buyout firm Sycamore Partners Management.
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