US fines Kraft Heinz $62 mn on 'bogus' cost savings
New York (AFP) - US regulators fined Kraft Heinz $62 million over an alleged accounting scheme that inflated the food giant's financial results due to bogus cost savings, authorities announced Friday. The Securities and Exchange Commission charged the company and two former executives over accounting practices between 2015 and 2018 that misrepresented expenses at the maker of Philadelphia cream cheese and Grey Poupon mustard, the agency said in a news release. "Investors rely on public companies to be 100% truthful and accurate in their public statements, especially when it comes to their fina...