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HomeChannelsBusinessGM resolves SEC accounting case tied to ignition switch

GM resolves SEC accounting case tied to ignition switch

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NEW YORK General Motors Co has agreed to pay $1 million to resolve a U.S. Securities and Exchange Commission accounting case related to a faulty ignition switch linked to 124 deaths and 275 injuries, the regulator announced on Wednesday.

The SEC said the deal would resolve charges that accounting control failures at the automaker prevented GM from properly assessing the potential financial impact of the defective ignition switch, which led to vehicle recalls beginning in 2014.


(Reporting by Nate Raymond in New York)

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With record scale, China’s consumer products expo shares opportunities and market with world // A Taste of Morocco Arrives at Dubai’s Global VillageThe aromatic spices and vibrant culture of Morocco have arrived at the Dubai Global Village, as the Moroccan pavilion officially opened its doors to the public. Spanning an impressive space, the pavilion promises to transport visitors to the heart of Morocco, offering a captivating glimpse into the country’s rich heritage, traditional crafts, and delectable cuisine.Stepping into the pavilion is akin to stepping onto the bustling streets of a Moroccan marketplace. The air is filled with the enticing aroma of fragrant tagines and freshly brewed mint tea, whetting the appetites of visitors. Colorful displays of intricately woven textiles, handcrafted pottery adorned with Berber designs, and gleaming brass lamps line the stalls, each piece a testament to the meticulous skill of Moroccan artisans.Visitors can embark on a sensory journey through Morocco, exploring the vibrant culture and traditions of the North African nation. Those seeking a retail adventure can browse through a curated selection of Moroccan goods, including hand-woven rugs, leather goods, and babouche slippers, all reflecting the country’s unique blend of Arabic, Berber, and European influences.Beyond shopping, the pavilion offers a chance to immerse oneself in Moroccan culture. Live music performances featuring traditional instruments like the oud and the darbuka fill the air, transporting visitors to a vibrant Marrakech marketplace. Artisans showcase their skills, demonstrating the age-old techniques of carpet weaving, pottery making, and metalwork, offering a glimpse into the heart of Moroccan craftsmanship.For those seeking a culinary adventure, the pavilion boasts a variety of restaurants serving up authentic Moroccan delicacies. Visitors can savor the fragrant flavors of tagines, simmered meats and vegetables in a conical clay pot, or sample the fluffy sweetness of baghrir, a type of semolina pancake drizzled with honey and argan oil. No Moroccan experience is complete without a steaming cup of mint tea, traditionally poured from a height to create a foamy head.The Moroccan pavilion at the Dubai Global Village is more than just a marketplace; it’s a portal to a captivating culture. Whether you’re tertarik (attracted) to the intricate craftsmanship, enticed by the flavorful cuisine, or captivated by the lively music, the pavilion offers a chance to experience the magic of Morocco firsthand. // UK Poised for Crypto Regulations by July // Tall & Active: Finding the Perfect Activewear Fit // Emirati Women Leaders Gather to Celebrate Eid al-Fitr with Fatima bint Mubarak // Stepping into the Metaverse: Adidas Partners with Stepn for NFT Collection // Crypto Wallet Urges iPhone Users to Disable iMessage Over Unpatched Vulnerability // Renowned Dutch Microbiologist and Expert in Water Quality and Health Named Lee Kuan Yew Water Prize 2024 Laureate // ISCA launches Accelerated Pathway Programme to fast-track aspiring Chartered Accountants of Singapore // CUHK Tops QS World University Rankings, Solidifying Its Global Research Leadership: Secures Top Positions in Hong Kong with 8 Subjects and 19* Subjects Among Top 50 // Urgent Plea for De-escalation in the Region Issued by the UAE // LukFook Group Expanded Retail Footprint in Southeast Asia // Andertoons by Mark Anderson for Tue, 16 Apr 2024 // UAQ Ruler Extends Sympathies to Oman Following Devastating Floods // Microsoft Pours $1.5 Billion into UAE AI Leader G42 // Strengthening Ties: UAE and Malaysia Forge Path for Broader Cooperation // Abu Dhabi Gears Up for Domestic Tire Production with Multi-Billion Dirham Investment // Ad Blockers Gain New Purpose in Fight Against Government Spyware // UAE, Iraq Discuss Strengthening Ties // Abu Dhabi Police on High Alert for Potential Low-Pressure Weather System //