Companies

Companies that disclose suspected criminal activity to US federal prosecutors could receive up to a 75 per cent reduction in penalties, as the justice department seeks to sweeten the incentives for co-operation. The department’s corporate enforcement policy had previously recommended a maximum penalty reduction of…

Plunging profits at the two premier Wall Street investment banks sparked contrasting reactions from investors, who punished Goldman Sachs for a sharp fall in investment banking fees while rewarding Morgan Stanley’s push into more stable businesses.The earnings further underscored the benefits of Morgan Stanley’s expansion…

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