Investors: firm misused funds

The Abraaj Group has a reputation as one of the developing world’s largest and most influential investors. The private equity firm, based in Dubai, in the United Arab Emirates, manages nearly $14 billion for institutions. Some investors are claiming that the Abraaj Group misused funds, according to people familiar with the allegations. The investors want to know why more than $200 million that they and others had provided was not spent. They fear that Abraaj may have used the money for its own purposes.

Bonuses after tax cut can mislead

Scores of companies are handing out bonuses, announcing that they are sharing the windfall from corporate tax cuts with their workers. A look at the fine print shows that some of the largesse is not nearly as large as companies suggest. Retailers like Walmart, Lowe’s and Home Depot have tied the size of bonuses to tenure, so that only employees who have been with the company for 20 years or more will receive the $1,000 maximum that was highlighted in their announcements. Few employees meet that requirement. The median tenure for retail workers is three years.