News In Brief

MIDDAY UPDATE: Ernst and Young, Kinect

Katharine Crnko Dec 20, 2010

New York prosecutors may charge accounting firm Ernst and Young for its role in the collapse of Lehman Brothers. New York prosecutors are reportedly saying Ernst and Young helped the now defunct investment bank hide $50 billion in losses.

We had two stories from the UK: The UK may be using the new Wall Street rules to lure more banking operations across the pond. Last weekend Britain’s Finance Chief visited New York. According to Stephen Beard, he met with the heads of the big Wall Street banks to get them to expand their business to London. Also — a Dover native looks to buy the city’s famous port. The recession is forcing England to potentially sell the port, and Dover citizens hope to keep it out of foreign hands.

And finally — Steve Chiotakis speaks with Dan Hsu of about the Microsoft XBOX 360 Kinect. Check out the video of Steve playing with a Kinect, and our interview with Hsu.

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