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Indian Software Giant Admits Financial Wrongdoing
NEW DELHI, Jan. 7 -- One of India's largest technology outsourcing companies, Satyam Computers, on Wednesday admitted cooking its books and committing other grave financial wrongdoing to inflate profits over several years. The revelation shook India's stock market and sent shock waves across the... |
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Financial Stocks: Oppenheimer analyst's comments help upend financial sector
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U.S. financial shares stage a broad retreat in early action, pulling back as an influential Oppenheimer & Co. analyst predicts banks will need to raise lots of additional capital this year -- and will likely face further credit downgrades. |
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Satyam Chief Quits, Admits Faking Financial Results
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The chairman of troubled Indian outsourcer Satyam Computer Services on Wednesday tendered his resignation to the company's board of directors, admitting that the company inflated its financial results. |
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