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....Authorities and the industry have sought to improve governance in a sector that has faced several allegations of illegal payments to secure business in some countries. The world’s biggest miner BHP Billiton paid $25m in 2015 to settle charges it violated a US anti-bribery law because it failed to properly monitor its programme sponsoring foreign government officials at the 2008 Olympics in Beijing. ... [Read full article on Guardian ]
Monday 24th of July 2017 08:07:02 PM
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....The actor Danny Glover and Senator Bernie Sanders are preparing to lobby the French government for help in the heated attempt to unionize a Nissan car plant in Mississippi. The United Auto Workers suffered a historic defeat of the Nissan plant in Canton, Mississippi, this month after a long campaign marred by allegations of bribery and intimidation. ... [Read full article on Guardian ]
Saturday 12th of August 2017 02:22:17 PM
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....Beny Steinmetz was remanded for four days after being detained and questioned along with five other prominent businessmen who are also under investigation. The diamond miner was detained last December and placed under house arrest while police investigated allegations that he had arranged for bribes to be paid so that his company, Beny Steinmetz Group Resources (BSGR), could secure half the rights to a lucrative iron ore deposit in the west African country of Guinea. ... [Read full article on Guardian ]
Monday 14th of August 2017 01:13:14 PM
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. Allegations that British American Tobacco was involved in bribery and corruption in Africa are being investigated by the Serious Fraud Office, despite the cigarette company’s attempts to downplay the significance of a whistleblower who handed over a dossier of evidence. ... [Read full article on Guardian ]
Tuesday 1st of August 2017 09:34:35 AM
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....6m. It was announced this week that the Serious Fraud Office has launched an investigation into the firm over bribery allegations in Africa. ... [Read full article on Guardian ]
Wednesday 2nd of August 2017 11:01:06 PM
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Latest Finance News related to Bribe

Diamond tycoon Beny Steinmetz detained in fraud inquiry image
Source : Guardian [Read Article] Monday 14th of August 2017 01:13:14 PM
....Beny Steinmetz was remanded for four days after being detained and questioned along with five other prominent businessmen who are also under investigation. The diamond miner was detained last December and placed under house arrest while police investigated allegations that he had arranged for bribes to be paid so that his company, Beny Steinmetz Group Resources (BSGR), could secure half the rights to a lucrative iron ore deposit in the west African country of Guinea. ...
Danny Glover and Bernie Sanders seek France's help after Nissan union vote image
Source : Guardian [Read Article] Saturday 12th of August 2017 02:22:17 PM
....The actor Danny Glover and Senator Bernie Sanders are preparing to lobby the French government for help in the heated attempt to unionize a Nissan car plant in Mississippi. The United Auto Workers suffered a historic defeat of the Nissan plant in Canton, Mississippi, this month after a long campaign marred by allegations of bribery and intimidation. ...
Serious Fraud Office opens investigation into BAT bribery claims image
Source : Guardian [Read Article] Tuesday 1st of August 2017 09:34:35 AM
. Allegations that British American Tobacco was involved in bribery and corruption in Africa are being investigated by the Serious Fraud Office, despite the cigarette company’s attempts to downplay the significance of a whistleblower who handed over a dossier of evidence. ...
SFO says it is investigating Rio Tinto over Guinea operations image
Source : Guardian [Read Article] Monday 24th of July 2017 08:07:02 PM
....Authorities and the industry have sought to improve governance in a sector that has faced several allegations of illegal payments to secure business in some countries. The world’s biggest miner BHP Billiton paid $25m in 2015 to settle charges it violated a US anti-bribery law because it failed to properly monitor its programme sponsoring foreign government officials at the 2008 Olympics in Beijing. ...
Second home owners are destroying rural economies | Letters image
Source : Guardian [Read Article] Saturday 22nd of July 2017 11:05:00 PM
....The problems described in your report are exacerbated in large parts of rural Wales, where the language and culture are under enormous pressure from a seemingly endless tide of second homers and elderly English retirees, whose main impact is to price local youngsters out of the housing market. The housing crisis in Wales is acute and has its origins in the sale of council houses at knockdown prices as an electoral bribe by the Thatcher government. ...
British Airways cabin crew extend strike into August holiday peak image
Source : Guardian [Read Article] Wednesday 19th of July 2017 05:25:45 PM
.... It has offered a 7% pay deal over three years. Unite’s national officer, Oliver Richardson, said: “Attempts by British Airways to bribe cabin crew into not striking with a £250 bung represents a crude attempt to sow division and will ultimately fail. ...
Threats, bullying, lawsuits: tobacco industry's dirty war for the African market image
....Concerns have been raised about links between politicians and the tobacco companies. “There are allegations of some of them having been bribed in the past,” said Joel Gitali, chief executive of the Kenya Tobacco Control Alliance. ...
Lloyds likely to extend compensation deadline over HBOS fraud scandal image
.... Scourfield had pleaded guilty to the scheme, which involved introducing his small business clients to Mills, who was convicted along with his wife, Alison, and their associates Michael Bancroft and Tony Cartwright of running the fraud. Scourfield was bribed by Mills with foreign cruises and sex parties. ...
Brazil meat-packing giant JBS to pay record $3.2bn corruption fine image
....Brazil's President Michel Temer is in danger of being toppled thanks to testimony given by J&F's owners, Joesley and Wesley Batista, under a plea bargain. The pair, who resigned from their board positions at the company last week, say they spent 600m real to bribe nearly 1,900 politicians in recent years. ...
Petrofac's move to appease SFO offers fuel for thought | Nils Pratley image
. When the Serious Fraud Office announced two weeks ago it was investigating suspected bribery, corruption and money laundering at Petrofac, shares in the oil services firm fell 14%. ...
Petrofac executive suspended amid fraud probe image
Source : BBC [Read Article] Thursday 25th of May 2017 11:29:00 AM
....Shares in Petrofac have dived almost 30% after the oilfield services firm suspended its chief operating officer Marwan Chedid amid a fraud inquiry. The Serious Fraud Office is probing the firm over allegations of "bribery, corruption and money laundering" relating to oil contractor Unaoil. ...
'I spit on you again': Russian billionaire renews tirade against Putin rival image
....” On Wednesday he released a second video entitled “I spit on you again”. Navalny, who has announced his intention to stand against Putin in presidential elections next year, made a video earlier this year accusing the prime minister, Dmitry Medvedev, of in effect receiving bribes from a number of businessmen, including Usmanov. ...
Brazil's stock market plunges after corruption claims image
Source : BBC [Read Article] Thursday 18th of May 2017 04:31:38 PM
....In a fortnight Mr Temer was about to start pushing his economic reform plan through Congress. Until Tuesday markets were very optimistic - but now many don't see how Mr Temer can keep his job if the allegations about a tape in which he condones a bribe payment are true. ...
Tories receive £50,000 from man questioned by Serious Fraud Office image
Source : Guardian [Read Article] Thursday 18th of May 2017 02:12:09 PM
....Theresa May’s election campaign has received a £50,000 donation from a Syrian-born businessman who was recently interviewed by the Serious Fraud Office, according to official data. Ayman Asfari, the chief executive of the oil services group Petrofac, gave the money to the Tories just days before the Guardian disclosed that he was recently interviewed under caution by the Serious Fraud Office (SFO) over suspected bribery, corruption and money laundering by the company. ...
Noel Edmonds accuses Lloyds of 'foot dragging' over HBOS payouts image
....They insisted small business customers used a specific turnaround firm. The HBOS managers were given bribes including cash and prostitutes and were jailed along with four others involved in the scam. ...
Anti-corruption police investigate UK firm over ex-Nigerian warlord deal image
....Anti-corruption investigators in four countries are examining a British firm’s links to a multimillion-pound defence deal involving a former Nigerian warlord. Investigators in the UK, the US, Nigeria, and Norway are scrutinising Cas-Global after it was alleged that the firm paid a bribe to a Norwegian official as part of the sale of seven decommissioned naval vessels. ...
Tory donor questioned by SFO over corruption claims at Petrofac image
Source : Guardian [Read Article] Friday 12th of May 2017 04:47:44 PM
....The Serious Fraud Office has launched an investigation into a company run by a major Conservative donor who is one of the prime minister’s business ambassadors. Petrofac, which provides services to the oil and gas industry, is being investigated by the SFO over suspected bribery, corruption and money laundering. ...
Chapter closed? image
Source : BBC [Read Article] Friday 12th of May 2017 07:01:27 AM
.... . After two long years of investigations, a massive probe into bribery at state oil giant Petrobras is finally reaching its pinnacle this year. ...
Noel Edmonds seeks £50m damages for HBOS fraud image
Source : BBC [Read Article] Wednesday 10th of May 2017 06:10:09 PM
.... . The HBOS managers were then compensated with bribes including cash and prostitutes. ...
Energy bills: £100 cap plan defended by Theresa May image
Source : BBC [Read Article] Monday 8th of May 2017 09:51:56 PM
....Labour said there was no guarantee the cap would stop energy prices going up. And the SNP described the proposal as an "election bribe" - while former Lib Dem energy secretary Sir Ed Davey said voters would be "astonished" the Conservatives were "copying" a policy proposed by former Labour leader Ed Miliband at the 2015 election. ...
KPMG's audits of Rolls-Royce accounts probed by regulator image
Source : BBC [Read Article] Thursday 4th of May 2017 08:31:07 AM
....The FRC said in a statement: "The FRC has commenced an investigation under the Audit Enforcement Procedure into the conduct of KPMG Audit Plc, in relation to the audit of the financial statements of Rolls-Royce Group plc for the year ended 31 December 2010 and of Rolls-Royce Holdings plc for the years ended 31 December 2011 to 31 December 2013. "The decision to investigate follows the SFO announcement on 17 January 2017 of a Deferred Prosecution Agreement between the SFO and Rolls-Royce which relates to offences including conspiracy to corrupt and a failure to prevent bribery. ...
Accounting watchdog to investigate KPMG over Rolls-Royce audit image
Source : Guardian [Read Article] Thursday 4th of May 2017 07:22:01 AM
. The UK’s accounting watchdog has begun an investigation into KPMG’s audit of Rolls-Royce, after the engineering group settled a bribery case with the Serious Fraud Office earlier this year. ...
Barclays chief clashes with private equity firm over family dispute image
....The deal was KKR’s maiden direct investment in Brazil but went sour in 2015 when the private equity giant fired Nitzan, then Aceco’s chief executive, and wrote off its $475m investment, after an internal investigation into a whistleblower’s allegations of fraud. KKR said the probe uncovered evidence that Aceco made payments to people involved in Brazil’s gargantuan “Car Wash” bribery and corruption scandal, some linked to the 2014 World Cup. ...
Apple’s addiction to iPhone shows no sign of waning image
Source : Guardian [Read Article] Sunday 30th of April 2017 06:00:21 AM
....Another company which recently recorded the biggest loss in its corporate history, and which is also holding an annual meeting this week, is Rolls-Royce. The aero-engine maker agreed a £671m settlement in January relating to bribery and corruption charges and this, along with a £4. ...
Samsung sees best quarterly profits in three years image
Source : BBC [Read Article] Thursday 27th of April 2017 02:59:19 AM
.... . Mr Lee denies all the charges, which including bribery and embezzlement. ...
Brazil's Odebrecht to pay $2.6bn fine for corruption image
Source : BBC [Read Article] Monday 17th of April 2017 05:35:57 PM
.... . The US charged Odebrecht with bribery in 12 countries in Latin America, with some bribes flowing through US banks. ...
Brazil graft probe focuses on World Cup football stadiums image
Source : BBC [Read Article] Saturday 15th of April 2017 12:34:38 AM
.... . The Odebrecht executives gave their testimony as part of a settlement with US, Brazilian and Swiss authorities in a huge foreign bribery case across Latin America. ...
High court approves £129m fine for Tesco over accounting scandal image
Source : Guardian [Read Article] Monday 10th of April 2017 06:18:16 PM
....The DPA is the fourth to be completed by the SFO after settlements with Standard Bank, Rolls-Royce and another company that cannot be named for legal reasons. Rolls-Royce agreed to pay £671m over allegations that it bribed middlemen around the world between 1989 and 2013. ...
Unilever to ditch Flora and Stork as consumers turn to butter image
Source : Guardian [Read Article] Thursday 6th of April 2017 07:59:35 AM
....Neil Wilson, a senior market analyst at ETX Capital, said: “The Kraft Heinz bid was a massive wake-up call. Unilever realised it needed to do more for shareholders but it also has to improve margins – the appeal of Kraft’s bid was being able to squeeze far higher margins out of the business – bribes alone won’t work. ...
Serious Fraud Office boss warns big names to play ball – or else image
Source : Guardian [Read Article] Saturday 1st of April 2017 03:00:28 PM
....Getting such well-known British companies to pay huge fines could be construed as a major victory for the SFO, which suffered a setback last year, after City brokers were found not guilty of helping Tom Hayes rig Libor interest rates. Rolls agreed to pay £671m to the SFO and the US Department of Justice over allegations that it bribed middle men around the world between 1989 and 2013. ...
Samsung Galaxy S8 hides home button and gains Bixby AI image
Source : BBC [Read Article] Wednesday 29th of March 2017 03:00:35 PM
....4 Jan 2017: Brighter TVs - QLED-branded TVs, laptops and smart skin sensor unveiled at CES tech expo. 17 Feb 2017: Chief arrested - Vice-chairman of Samsung Electronics, Lee Jae-yong, faces bribery allegations. ...
Samsung: Is Galaxy S8 the firm's most important phone yet? image
Source : BBC [Read Article] Wednesday 29th of March 2017 05:01:52 AM
....That resilience is largely because the Galaxy S7 - the precursor to the new phone launched this Wednesday - has been a real success. And it is even more remarkable given Samsung is also embroiled in South Korea's political corruption scandal - with the firm accused of having bribed the government in return for political favours - something it strenuously denies. ...
Tesco to pay £129m fine over accounting scandal image
Source : Guardian [Read Article] Tuesday 28th of March 2017 07:16:54 AM
.... Tesco’s case is scheduled to be heard on 10 April. The DPA with Tesco follows a settlement with Rolls-Royce in January that saw the aerospace and defence company agree to pay £671m over allegations that it bribed middlemen around the world between 1989 and 2013. ...
Tesco and Serious Fraud Office near to deal over accounting scandal image
Source : Guardian [Read Article] Monday 27th of March 2017 05:46:01 PM
....The Tesco and Barclays investigations are two of the most high-profile cases ever to face the SFO. The fraud-busting agency has been heavily criticised by politicians in the past for the cost of failed investigations but it recorded a significant victory earlier this year when Rolls-Royce agreed to pay £671m to settle allegations that it bribed middlemen around the world between 1989 and 2013. ...
Samsung Electronics chief says sorry for scandal image
Source : BBC [Read Article] Friday 24th of March 2017 08:42:17 AM
....Mr Lee is currently in jail awaiting trial. Samsung has said it did not pay bribes in the form of donations, but has pledged to improve its corporate governance. ...
Brexit could damage UK's fight against corruption, says OECD image
Source : Guardian [Read Article] Thursday 23rd of March 2017 10:07:05 AM
. Brexit could damage the UK’s efforts to tackle corruption and give multinationals leverage over the British government in bribery cases, the Organisation for Economic Co-operation and Development has warned. ...
Brazil meat scandal: China and EU suspend imports image
Source : BBC [Read Article] Monday 20th of March 2017 08:39:48 PM
.... . The investigators allege that some managers bribed health inspectors and politicians to get government certificates for their products. ...
British banks handled vast sums of laundered Russian money image
Source : Guardian [Read Article] Monday 20th of March 2017 06:00:24 PM
.... This month, Moldova’s parliament said Russia’s FSB had “abusively treated” Moldovan officials arriving in the Russian Federation. It linked their harassment to Moldova’s Laundromat investigation and said some of the money had been used to try to bribe Moldovan MPs. ...
Are these cashback deals  a carrot… or a costly stick? image
Source : Guardian [Read Article] Saturday 18th of March 2017 07:00:32 AM
....”. In short, the advice is: do your research, take advice if necessary, and choose a deal based on whether it suits your financial needs and is competitively priced, rather than any “bribes” on offer. ...
Brazil meat-packing giants 'exported rotten beef' image
Source : BBC [Read Article] Friday 17th of March 2017 08:21:35 PM
.... . The investigators allege that some managers bribed health inspectors and politicians to get government certificates for their products. ...
Brazil prosecutor targets politicians in Petrobras scandal image
Source : BBC [Read Article] Tuesday 14th of March 2017 11:19:32 PM
....But he has lost several ministers following corruption allegations, and the investigations may hamper his efforts to revive the economy and restore confidence, correspondents say. There is the suspicion that part of the money from the overcharged contracts with Petrobras was used for bribes and to pay for campaigning. ...
Rolls-Royce calls its first staff AGM image
Source : Guardian [Read Article] Sunday 12th of March 2017 03:02:59 PM
. Rolls-Royce, the engine maker hit by a £671m settlement of bribery and corruption charges, is to hold its first annual meeting for staff with the aim of improving communication with its global workforce of almost 50,000. ...
Christian Candy adviser linked to Litvinenko and his alleged killer image
Source : Guardian [Read Article] Thursday 9th of March 2017 07:45:01 PM
....The court has heard how Smith, who now walks with a stick, jumped out of a first-floor window and broke his spine to escape attackers. Smith explained how he had stood by Hunter after the private detective was arrested on suspicion of police bribery in 2012. ...
Sir Martin Sorrell's £42m payout takes earnings to £210m in five years image
....Among other companies publishing details of pay deals on Thursday was Rolls-Royce, which paid annual bonuses to its executive for the first time in three years. Its chief executive, Warren East, who is leading the clean-up operation of the engine-maker after its £671m charge to settle bribery and corruption charges with the Serious Fraud Office and authorities in the US and Brazil, received a £916,000 bonus taking his total pay to £2m. ...
Samsung chief Lee Jae-Yong on trial for bribery image
Source : BBC [Read Article] Thursday 9th of March 2017 06:30:31 AM
. The trial of Samsung's de facto head Lee Jae-Yong on a string of corruption charges including bribery and embezzlement has begun in South Korea. ...
From V-necks to handcuffs image
Source : BBC [Read Article] Thursday 9th of March 2017 05:52:51 AM
....He is is the most high-profile figure arrested in the investigation. Charges against Mr Lee - who denies wrongdoing - include bribery, embezzlement, hiding assets overseas and perjury. ...
Christian Candy tells court he follows rules on tax exile 'religiously' image
....”. Stewart asked Christian Candy if he had known that employees of a security firm he hired to advise on debt collection had been arrested on suspicion of bribery. ...
Drugs disaster image
Source : BBC [Read Article] Monday 6th of March 2017 12:10:46 AM
.... No, they are not supposed to. But they just bribe the local official. ...
The oil deal, the disgraced former minister, and $800m paid via a UK bank image
....A joint investigation by the Observer and journalists from Finance Uncovered, a non-profit organisation based in London, has discovered that prosecutors in Milan believe two payments of $400m each were wired through JP Morgan in London as the spoils of a huge deal to develop a Nigerian oilfield involving Shell, its joint venture partner the Italian oil giant Eni, and the government in Abuja. More than half the money was converted into bags of bribe cash via bureaux de change in Nigeria, while tens of millions was wired to buy a private jet and armoured cars in the US, according to documents compiled by the prosecutors. ...
Christian Candy tells high court: ‘I don’t deal with shady people’ image
.... Multimillion-pound penthouses in the four blocks, secured by iris scanners, bulletproof glass and British special forces trained guards, were acquired by Gulf royalty and business people from Ukraine, Nigeria and Kazakhstan. Cliff Knuckey and another investigator at RISC were arrested on suspicion of police bribery in 2012, but all charges were later dropped. ...
Samsung's acting head indicted on bribery charges as scandal grows image
Source : Guardian [Read Article] Tuesday 28th of February 2017 10:22:14 AM
. The acting head of Samsung has been indicted on bribery and embezzlement charges connected to a corruption and cronyism scandal centring on South Korea’s impeached president, Park Geun-hye. ...
Samsung heir Lee Jae-yong to be indicted on bribery charges image
Source : BBC [Read Article] Tuesday 28th of February 2017 07:14:00 AM
. Samsung's heir apparent Lee Jae-yong is to be formally indicted on multiple charges including bribery and embezzlement, prosecutors said. ...
Vast losses at RBS are a legacy of a failed system | Will Hutton image
Source : Guardian [Read Article] Sunday 26th of February 2017 12:05:15 AM
.... Too many great names in British business have revealed feet of clay in the past few years. Rolls-Royce has paid £671m in penalties to the UK, US and Brazilian governments to settle bribery and corruption claims in 12 countries. ...
Samsung head arrested over South Korean Choi-gate corruption scandal image
Source : Guardian [Read Article] Friday 17th of February 2017 12:27:38 AM
....Special prosecutors investigating a scandal that has rocked South Korea’s political and business worlds accuse Lee Jae-yong of bribing a close friend of Park to secure government support for a business deal that would propel him to the top of the Samsung group. They reportedly plan to indict him on charges including bribery, embezzlement, hiding assets overseas and perjury, after the Seoul central court approved the billionaire’s arrest. ...
Rolls-Royce posts biggest loss in its history image
Source : Guardian [Read Article] Tuesday 14th of February 2017 07:28:53 AM
....It included a £4. 4bn writedown on the value of financial hedges Rolls uses to protect itself against currency fluctuations and a £671m charge for the penalties the company has agreed to pay to settle bribery and corruption charges with the Serious Fraud Office (SFO), the US Department of Justice, and Brazilian authorities. ...
Donald Trump is undermining the fight against corruption image
Source : Guardian [Read Article] Sunday 12th of February 2017 03:25:57 PM
....Governments have become less tolerant of dirty business dealings over time, as Rolls-Royce has found to its cost. The aerospace company – one of the UK’s genuinely world class manufacturing firms – will this week announce one of Britain’s biggest ever corporate losses, in part the result of the £671m cost of settling bribery actions. ...
Bribery and Brexit propel Rolls-Royce towards historic losses image
Source : Guardian [Read Article] Saturday 11th of February 2017 01:42:36 PM
.... However, an industry source said he was prepared to “address the issue front and centre and not shy away from it”. Rolls agreed to the settlement over allegations that it bribed middlemen around the world between 1989 and 2013 to win contracts. ...
Panama Papers: Mossack Fonseca founders arrested over bribery scandal image
Source : Guardian [Read Article] Friday 10th of February 2017 03:11:52 PM
....She said the firm’s Brazilian representative had allegedly been instructed to conceal documents and to remove evidence of illegal activities related to the Lava Jato case. “Put simply, the money comes from bribes, circulated via certain corporate entities to return bleached or washed to Panama,” said Porcell. ...
Former Rolls-Royce boss questioned in corruption inquiry image
Source : Guardian [Read Article] Friday 10th of February 2017 11:31:33 AM
....Rose also left his position as a director of two organisations in recent weeks. He resigned as director of the Eden Trust, owner of the Eden Project in Cornwall, on 27 January, just 10 days after Rolls-Royce and the SFO announced the company had agreed to pay £671m to settle allegations it bribed middlemen around the world between 1989 and 2013. ...
GSK needs no medicine despite talk of poor performance image
Source : Guardian [Read Article] Wednesday 8th of February 2017 07:49:04 PM
....That farce produced a chief executive who was serious about cutting costs and avoiding rash bets. Full judgment on Sam Walsh’s reign must await the outcome of a bribery investigation concerning an iron ore project in Guinea, but Rio Tinto did start to concentrate on maximising cash. ...
Rolls-Royce faces civil service inquiry over UK state funding image
Source : Guardian [Read Article] Sunday 5th of February 2017 03:29:06 PM
....Civil servants are carrying out an internal inquiry to establish whether the engineering giant Rolls-Royce fraudulently obtained financial support worth hundreds of millions of pounds from the government. The inquiry was launched after the multinational manufacturer admitted last month it had used multimillion-pound bribes to secure export orders across the world over four decades. ...
Ex-HBOS manager and five others face jail over £245m scam image
Source : Guardian [Read Article] Monday 30th of January 2017 04:41:50 PM
....A group of six financiers including a former senior HBOS banker face jail after being convicted on Monday for their roles in a scam involving £245m worth of fraudulent loans. Ex-HBOS manager Lynden Scourfield, 54, was bribed by David Mills, 60, with foreign cruises and sex parties, a jury at Southwark crown court found on Monday. ...
Dow Jones hits record high – is Trump good for stock markets? image
Source : Guardian [Read Article] Wednesday 25th of January 2017 03:18:04 PM
....Sir Philip Green still has a gong (for now), but even if the Topshop owner eventually coughs up a few hundred million quid for the BHS pension fund, it’s hard to imagine it would be awarded today. Labour is also calling for Sir John Rose, the former chief executive of Rolls-Royce, to lose his knighthood after the engine manufacturing company admitted to bribery and corruption during his period at the top. ...
Well-paid bosses should not get knighthoods – says Sir Philip Hampton image
Source : Guardian [Read Article] Tuesday 24th of January 2017 06:22:08 PM
....Honours handed to company bosses have been in sharp focus in recent months. In October, MPs voted for Sir Philip Green to lose his knighthood after the collapse of department store of BHS – a symbolic move – while the bribery scandal at Rolls-Royce has sparked calls from Labour for the firm’s former chief executive Sir John Rose to lose his honour. ...
'There's a danger of a generation who can't afford to retire' image
Source : Guardian [Read Article] Monday 23rd of January 2017 08:05:59 AM
....Anything above that, he tells me, should be privately funded, without tax-breaks or other government help. “Once the minimum has been reached, it’s not the job of government to bribe people to save more,” he says. ...
Hurrah for the industrial strategy. At last Britain has a plan image
Source : Guardian [Read Article] Sunday 22nd of January 2017 06:59:23 AM
....Apart from the banks, it is hard to think of a bigger British corporate scandal than Rolls-Royce in the past two decades. If Brexit and Trump weren’t happening, the tale of bribery and corruption at Rolls-Royce over three decades would have been front-page news for days. ...
Brexiters expect to leave the EU on a free trade ‘crusade’. What if they are wrong? image
.... Rolls-Royce may be grabbing the attention at the moment after a joint Guardian and BBC Panorama investigation identified 12 countries in which Rolls-Royce had hired “commercial agents” or advisers to help it secure high-value contracts. Go back a few years and Siemens was caught doing much the same, and Italy’s oil companies are almost constantly under investigation by local prosecutors for using bribes to win contracts, most recently in Algeria. ...
Rolls-Royce sent agent to 'retrieve' document from India tax office image
Source : Guardian [Read Article] Friday 20th of January 2017 01:52:09 PM
....According to the statement of facts on corruption, which was put to the court by the SFO and Rolls-Royce, the individual – identified only as “Intermediary 4” in court documents – was the company’s agent on at least two major deals in India, including the sale of engines for BAE Systems Hawk aircraft in 2004. False accounting and conspiracy to bribe foreign officials in India were part of a series of admissions by Rolls-Royce, as Britain’s leading multinational manufacturer agreed to pay £671m in penalties to settle a long-running corruption investigation by the SFO and regulators in Brazil and the US. ...
'Of the very greatest gravity’: key quotes from the Rolls-Royce bribery scandal image
....Lord Justice Leveson’s overall judgment on Rolls-Royce. “Against that background [of the size and importance of Rolls to the UK], it can properly be described as devastating and of the very greatest gravity that the conduct of this institution should fall to be examined within the context of a criminal investigation, and that the investigation (in very large part conducted and voluntarily revealed to the SFO by Rolls-Royce itself) should reveal the most serious breaches of the criminal law in the areas of bribery and corruption (some of which implicated senior management and, on the face of it, controlling minds of the company). ...
Rolls-Royce lobbied ministers to weaken anti-bribery proposals image
Source : Guardian [Read Article] Thursday 19th of January 2017 06:19:54 PM
. Rolls-Royce, which this week agreed to pay £671m in penalties after admitting it had engaged in corruption, lobbied ministers to weaken proposed curbs on bribery a decade ago. ...
South Korean court refuses arrest warrant for Samsung boss image
Source : Guardian [Read Article] Thursday 19th of January 2017 05:37:18 AM
....A court in South Korea has refused to issue a warrant for the arrest of the acting head of Samsung, Jay Y Lee, over his alleged role in a corruption and influence-peddling scandal that threatens to bring down the country’s impeached president, Park Geun-hye. Special prosecutors investigating Park’s relationship with her longtime confidante, Choi Soon-sil, had demanded Lee’s arrest on charges of bribery, embezzlement and perjury. ...
Calls for ex-Rolls-Royce CEO to lose knighthood after firm admits bribery image
Source : Guardian [Read Article] Wednesday 18th of January 2017 07:48:18 PM
. Labour called for the former chief executive of Rolls-Royce to lose his knighthood, after the company admitted “extensive systemic bribery and corruption” during the period in which he ran the jet engines manufacturer. ...
Rolls-Royce: questions remain despite £671m bribery settlement | Nils Pratley image
....For Rolls-Royce, the company, the book is now almost closed. It has apologised “unreservedly” in court for the bribery and corruption in its midst in the period 1989 to 2013. ...

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