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1 Article
Source: Common Domain

Two Former Executives of Panasonic Unit Settle With SEC Over Charges of Accounting Violations

Today 08:04 GMT

Two former senior executives of a U.S. unit of electronics manufacturer Panasonic Corp. violated accounting rules stemming from a scandal that cost the company more than $280 million, the Securities and Exchange Commission said Tuesday.

Mr. Uonaga, the Panasonic Avionics CFO, caused the parent company, Panasonic Corp., to improperly record $82 million in revenue based on a backdated contract and made false representations to the subsidiary’s auditor regarding financial statements, internal accounting controls, books and records, the SEC said.

1 Article
Source: The Guradian

Instagram: from Facebook's 'best hope' to Russian propaganda campaign tool

Today 07:00 GMT

This January, as Mark Zuckerberg was embarking on his quest to “fix” Facebook, one writer proposed a bold idea: make Facebook more like Instagram, “the Facebook-owned app that isn’t destabilizing society”. Instagram was no panacea, according to the New York Times tech columnist, but the downsides of the largely visual network – making “some of its users feel ugly and unpopular” – were insignificant compared to those of a highly politicized Facebook that could “undermine democracies and promote misinformation around the world”.

1 Article
Source: Common Domain

Why Fixing Sloppy U.K. Auditors Matters for Wall Street

Today 09:54 GMT

If auditors can’t be trusted to do a thorough job of policing company accounts, then the minimal costs that companies currently pay are wasted money and there is no point to them at all.

Poor U.K. auditing standards are a problem for U.S. investors, too, because the U.K. arms of the Big Four audit the British divisions of U.S. companies such as Amazon and Citigroup. In a report published Tuesday, the U.K. antitrust regulator criticized a lack of competition and the way auditors are appointed on the basis of “cultural fit” or price.

1 Article
Source: Common Domain

Regulators Propose Overhaul of U.K. Audit Industry

Today 09:54 GMT

U.K. regulators proposed sweeping changes to rules governing British audit firms Tuesday in moves designed to increase competition, prevent conflicts of interest and restore public confidence in an industry tarnished by an accounting scandal that led to the collapse of one of Britain’s largest construction companies.

U.K. audit firms get at least 75% of their revenue from nonaudit services, the regulator said, and in some cases provide consulting services to the same companies they audit.

1 Article
Source: Common Domain

Brace yourself, these kinds of people are the most likely to get hacked

Today 11:46 GMT

While many kinds of software protecting users from malware focus on physical risks, behavioral risks are just as important, he added.

Impulsive online behavior like shopping, downloading music, and obsessive email use are tied to higher rates of falling victim to hacking, a study from Michigan State University published on this week shows. The research found a range of behaviors that lead someone to become a victim of cyber crime.

1 Article
Source: Common Domain

Robinhood tempts savers with 3% interest on checking accounts — but regulatory stop sign reveals a clumsy rollout

Sunday 15:23 GMT

Designed to be competitive with the offerings from online banks and other investment companies, the accounts, at least as first pitched, will earn 3% interest on both checking and savings.

While they are technically cash management accounts, Robinhood’s new accounts will function like traditional bank accounts. They come with a MasterCard MA, -1.82%  debit card that can be used for cash withdrawals at more than 75,000 ATMs across the country.

1 Article
Source: DW

Facebook accused of silencing critical Vietnamese bloggers

Sunday 16:18 GMT

The media campaigners Reporters Without Borders (RSF) said Vietnamese bloggers living in exile were being censored because of the misuse of a safety feature on Facebook.

"Our research shows that the Vietnamese government is apparently abusing digital space to suppress critical voices abroad as well," said RSF managing director Christian Mihr. RSF said the social network deleted posts and blocked accounts because of alleged community standards' violations.

1 Article
Source: The Guradian

National Enquirer: Trump scandal shows the need for accountability

Monday 13:35 GMT

That AMI, the parent company of the sensationalist gossip sheet National Enquirer, even has an ethics code might surprise some, but its complete violation of its own rules this week surprised no one.

While the practices of the National Enquirer do not constitute what most professional news people would think of as quality journalism, to the broader public the dirty deeds that place commercial media in concert with politicians and their corrupt lawyers come as no surprise.


“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte