Kobe Steel Ltd. said on Friday it has been hit with lawsuits over its data tampering scandal and has had two more badges of industrial quality removed, the latest setbacks for the Japanese steelmaker as it seeks to restore its …
When cheating becomes habitual, the consequences could be costly. Embattled Kobe Steel Ltd said on Tuesday the U.S. Justice Department is asking the steelmaker to provide documents related to its data falsification scandal. That came after a source with knowledge …
Just over a week out from revelations of a cheating scandal that plunged Kobe Steel Ltd. in crisis and ensnared hundreds of firms, the embattled steelmaker’s shares skidded to five-year lows on Monday as investors worried about the financial and …
The cheating crisis engulfing Kobe Steel Ltd just got bigger. Chief Executive Hiroya Kawasaki on Friday revealed that about 500 companies had received its falsely certified products, more than double its earlier count, confirming widespread wrongdoing at the steelmaker that …
KPMG LLP’s South African unit appointed nine new executives in an attempt to restore trust in the auditing firm as clients continued to distance themselves over its involvement with the politically connected Gupta family. Andrew Cranston, a partner and former …
The scandal engulfing Kobe Steel Ltd. deepened on Wednesday as the Japanese steelmaker said it may have falsified data about another of its products, which is typically used in automobile parts including brakes and steering components. The country’s third-largest steel …
Japan’s government sought on Tuesday to contain the fallout from the disclosure by the nation’s third-biggest steel maker, Kobe Steel Ltd, that it had fabricated data on components used in cars, aircraft and space rockets, sending shock waves through the …
The African arm of Germany’s Munich Re has dropped KPMG as its auditor, the latest company to distance itself from the accountancy firm entangled in a scandal involving friends of South African President Jacob Zuma. KMPG sacked its South African …
Cyber security breaches erode companies’ share prices permanently, with financials the worst hit, a study issued by IT consultant CGI and Oxford Economics has found. Severe cyber security breaches, such as those having legal or regulatory consequences, involve the loss …
While insurance against cyber risk represents a tremendous new business for the insurance industry, numerous problems with the insurability currently impede the development of the market,” according to a new report published by the Geneva Association. The report, titled “Ten …
