RCA Telegram News California - Economy (English)

Macy's says employee hid up to $154 mn in costs over 3 years

Macy's disclosed Monday that an employee had hidden up to $154 million in expenses through false accounting entries over more than three years.

Awaiting Commerzbank, Italy's UniCredit bids for Italian rival

With its plans for Germany's Commerzbank seemingly stalled, UniCredit, Italy's second-largest lender, launched Monday a bid to buy its rival BPM for 10.1 billion euros ($10.6 billion).