Avon has filed for bankruptcy in the wake of more than 100 claims alleging talcum powder in its products causes cancer. Avon Products, the cosmetics company’s parent group, said it recently filed for Chapter 11 bankruptcy protection in the U.S. to stave off debt pressures and the impact of looming lawsuits. Lawyers argue there is…

Royal Bank of Canada’s former finance chief has filed a wrongful-termination lawsuit against the Canadian bank, citing the presence of “gender-based stereotyping” in her dismissal. Earlier this year, RBC said it had terminated Nadine Ahn after a probe found that she was in an undisclosed close personal relationship with another executive that led to preferential…

The U.S. Federal Reserve has imposed an enforcement action on Customers Bancorp for “significant deficiencies” in the bank’s risk management and anti money-laundering practices. The bank has been told to overhaul its policies and regularly report back to regulators on progress. The Pennsylvania-based lender’s chief risk officer, Joan Cheney, said in a statement that the…

Coca-Cola has been ordered to pay $6bn in back taxes after losing a transfer pricing case. The company plans to appeal the decision, but if the IRS prevails, Coca-Cola could owe up to $16bn in back taxes and interest. The case involves transfer pricing, a practice used by multinational corporations to allocate costs and taxable…

KPMG is looking to accelerate its growth as a provider of technology consulting services with a stake in artificial intelligence (AI) startup Rhino.AI, developer of a platform that aims to save clients time and money when upgrading legacy information technology systems. Financial terms of the deal, which builds on an existing alliance, have not been…