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CEOs mull job cuts on their first day

Tidjane Thiam

John Cryan and Tidjane Thiam, in their first day as CEOs of two of Europe’s largest banks, signalled they will remodel their firms as investors press them to eliminate businesses and boost profit.

SEC charges Deloitte & Touche with violating auditor independence rules

SEC Building

The Securities and Exchange Commission has charged Deloitte & Touche LLP with violating auditor independence rules when its consulting affiliate maintained a business relationship with a trustee serving on the boards and audit committees of three funds it audited. Deloitte agreed to pay more than $1m to settle the charges.