BRIEFCASE $25,000 FOR VALLEY BUSINESS CENTER.Byline: - Staff and Wire Services VAN NUYS - The Valley Economic Development Center announced Wednesday that it received $25,000 from the Citigroup Foundation. The grant, part of a $50,000 total pledge, will fund the nonprofit group's business finance center. The center's programs include business assistance, providing loan packages and credit counseling Credit counseling (known in the United Kingdom as debt counselling) is a process offering education to consumers about how to avoid incurring debts that cannot be repaid. This process is actually more debt counseling than a function of credit education. . Nestle reports 1st-half net profit VEVEY, Switzerland - Nestle SA posted a modest 2 percent increase in profits for the first half of the year, as it faced challenges such as higher prices for raw materials like milk and coffee as well as cooler temperatures that dampened consumers' appetite for ice-cream treats. Nestle, whose U.S. headquarters is in Glendale, posted a first-half net profit of 2.84 billion Swiss francs Noun 1. Swiss franc - the basic unit of money in Switzerland franc - the basic monetary unit in many countries; equal to 100 centimes centime - a fractional monetary unit of several countries: France and Algeria and Belgium and Burkina Faso and Burundi and ($2.28 billion), up slightly from 2.78 billion francs in the year-ago period. Nestle, which reports earnings only for the half year and full year, said six-month sales were 42.45 billion francs ($34.13 billion), up from 41.44 billion francs in the year-ago period. Janus will settle for $226.2 million DENVER - Janus Capital Group Janus Capital Group Inc. is a public company headquarted in Denver, CO, US. It was founded in 1969. It provides risk-managed investment strategies. As of June 30, 2007, Janus managed $190. Inc. said Wednesday it has finalized See finalization. a $226.2 million settlement with state and federal regulators over improper trading allegations, part of a scandal sweeping the $7 trillion mutual funds industry. Janus will pay $100 million to investors - $50 million in restitution In the context of Criminal Law, state programs under which an offender is required, as a condition of his or her sentence, to repay money or donate services to the victim or society; with respect to maritime law, the restoration of articles lost by jettison, done when the and $50 million in civil penalties - and reduce the fees it charges investors by $125 million over five years. The Denver-based company will pay $1.2 million to the Colorado attorney general's office for investor education, future enforcement and attorney's fees attorney's fee n. the payment for legal services. It can take several forms: 1) hourly charge, 2) flat fee for the performance of a particular service (like $250 to write a will), 3) contingent fee (such as one-third of the gross recovery, and nothing if there is no . It also will institute measures to guard against future problems. The announcement finalized an agreement tentatively reached in April between Janus and the Securities and Exchange Commission, and regulators in Colorado and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . SEC staff urges Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation. suit WASHINGTON - The staff of the Securities and Exchange Commission informed mortgage giant Freddie Mac on Wednesday that it will recommend that the commission bring civil charges against the company related to its accounting scandal last year. The warning came in a formal ``Wells Notice'' to McLean, Va.-based Freddie Mac, indicating that the staff thinks the broader commission should sue the company for violating securities law. The SEC launched a broad investigation into Freddie Mac's accounting practices last year after the company ousted its top three executives and widespread problems surfaced. Freddie Mac confirmed that it had received the notice advising it that the staff is ``considering a recommendation that the SEC initiate a civil injunctive action against the company for possible violations of securities laws.'' |
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