CFO / Financial
Buybacks Not ‘Un-American,’ But Accounting ‘Adjustments’ Cringeworthy, Buffett Says
Billionaire investor Warren Buffett on Saturday attacked what he saw as tricks used by U.S. companies to boost earnings and stock prices, but he defended one oft-criticized practice: share buybacks. ...
UK Brexit Bill Could Hit $63B, Austrian Leader Estimates
Britain should be charged about 60 billion euros ($63 billion) when it leaves the European Union, Austrian Chancellor Christian Kern said, becoming the first EU leader to put a value on the size of ...
XL Group CFO Porrino to Retire on May 1; Robb Will Replace
XL Group Ltd. Chief Financial Officer Peter Porrino is retiring from his executive role this spring, though the Bermuda-based insurer and reinsurer has chosen from within the company to replace him. ...
Allianz Profit Climbs, $3.2B Share Buyback to Come
Allianz SE reported a 23 percent increase in fourth-quarter net income and announced its first-ever share buyback as Europe's biggest insurer makes good on a promise to return excess cash to ...
Despite AIG’s Poor Q4, Standard & Poor’s and Fitch Remain Patient
Despite American International Group's poor 2016 fourth quarter earnings performance, Fitch Ratings and Standard & Poor's both have affirmed the insurer's ratings, with a few qualifiers slipped ...
Ex-CFO of Bankrupt Enron Offers D&O Lessons from Accounting’s ‘Gray’ Areas
Andrew Fastow, former chief financial officer of Enron Corp., a now-defunct energy trading company swept up in a massive fraud scandal in the early 2000s, warned a room full of directors and officers ...
Greenberg, New York AG Dispute Admission of Wrongdoing in Fraud Settlement
Almost a dozen years ago, then-New York Attorney General Eliot Spitzer filed a fraud lawsuit against former American Insurance Group Inc. CEO Maurice "Hank" Greenberg over two reinsurance ...
AIG Fraud Case Aftermath: Greenberg Blasts New York AG for Destroying ‘National Asset’
Maurice "Hank" Greenberg, the former American International Group Inc. chief executive officer, lambasted the New York State attorney general's office after admitting that he approved two reinsurance ...