Tuesday, October 26, 2021


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Matt Robinson

KPMG LLP will pay $50 million to settle Securities and Exchange Commission allegations that it altered past audit work after receiving stolen information from an industry watchdog. / BLOOMBERG NEWS FILE PHOTO/SIMON DAWSON

KPMG to pay $50M fine for using data stolen from watchdog

NEW YORK – KPMG LLP, one of the big four accounting firms, will pay $50 million to settle Securities and Exchange Commission allegations that...
BANK OF AMERICA has agreed to pay $415 million to settle Securities and Exchange Commission claims that Merrill Lynch misused billions of dollars in customer funds to benefit itself.

BofA to pay $415 million over claims it misused client funds

NEW YORK - Bank of America Corp. admitted to wrongdoing in settling a U.S. regulator’s allegations that it misused billions of dollars in customer...

S&P suspended, fined almost $80M in SEC, state cases

NEW YORK - Standard & Poor’s agreed to be suspended from rating the biggest part of the commercial-mortgage bond market and pay almost $80...

Funding at U.S. corporate pensions drops to 2014 low

NEW YORK – Falling interest rates have reduced the ability of U.S. corporate pension plans to fund their obligations to the lowest this year,...

S&P/Experian: Consumer default rates drop to eight-year low

NEW YORK – Individual default rates in the U.S. have dropped to their lowest level since before the financial crisis as consumer confidence rises...
CVS CAREMARK CORP. raised $4 billion in a four-part bond sale to help fund its $2.1 billion takeover of Apria Healthcare Group's Coram LLC, according to a person with knowledge of the offering. Proceeds will be used to pay back commercial paper and for general corporate purposes, including the buyout. / BLOOMBERG FILE PHOTO/DAVID PAUL MORRIS

CVS raises $4 billion in four-part bond sale to fund takeover

(Updated, Dec. 3, 2:14 p.m.) NEW YORK – CVS Caremark Corp., the largest provider of prescription drugs in the U.S., raised $4 billion in a...
EVEN AS INDIVIDUAL INVESTORS have moved from bonds to equities this year - keeping traders on the floor of the New York Stock Exchange busy - institutional investors, especially those with pension benefit obligations, are buying more bonds to make sure they have the income to meet those liabilities. / BLOOMBERG NEWS FILE PHOTO/SCOTT EELLS

Great rotation seen muted by pension-fund demand

NEW YORK - A shift by household investors from bonds into equities that Bank of America Corp. dubbed the great rotation is being muted...

Financial conditions rise to record on debt talks

NEW YORK - U.S. financial conditions climbed to the highest level on record amid speculation lawmakers will agree to a deal to raise the...

State regulators in U.S. combine to probe structured-notes sales

NEW YORK - State regulators in the U.S. are combining forces to investigate whether brokers improperly sold structured notes, securities that package debt with...

Janney says U.S. aid cuts may impair state ratings

NEW YORK - Congressional cuts to U.S. spending, following a negative outlook on federal debt by Standard & Poor’s, may adversely affect state credit...

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