In one of India's largest-ever cases of corporate fraud, the founder and chairman of failed outsourcing giant Satyam Computer Services and nine other defendants have been sentenced to seven years in prison on charges of stealing millions from shareholders.
An Indian court in the country's tech hub, Hyderabad, ruled Thursday that B. Ramalinga Raju, his two brothers and seven other officials of Satyam — which collapsed in 2009 — used forged documents and fake bank accounts in a scheme that cost the company's shareholders $2.28 billion.
The online furniture company Wayfair is now one of the most shorted stocks. Our Planet Money team talks to its CEO about what it's like to be running a company when some investors are betting on your fall.
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President Obama is in Jamaica on Thursday, meeting with Prime Minister Portia Simpson Miller and more than a dozen other leaders from throughout the Caribbean. It's the first stop on a three-day tour that also includes a hemispheric summit meeting in Panama. Topping Thursday's agenda is a looming energy crunch in the Caribbean, and a chance for the U.S. to seize the initiative there from leftist leaders in Venezuela.
In the village of Tuffet, a rocky 45-minute drive from the closest city along Haiti's southern coast, several men get down to work in Monique Yusizanna Ouz's rural home. They're wiring up her two-room, dirt floor house with a breaker box, an outlet and a light fixture.
She's 66 years old, and for the first time in her life, she's going to have electricity.
Ouz, who has five grandchildren, wants a refrigerator. She wants cold drinks — for herself but also to sell. And she wants ice cream, too.
Huge ice chunks stacked some 8 feet deep on Lake Superior have left 18 freighters stuck. The U.S. and Canadian Coast Guards have gotten involved, sending Canadian icebreakers and American vessels to help the ships break free from Whitefish Bay.