Topic filter : Corruption

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. 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. ... [Read full article on Guardian ]
Thursday 23rd of March 2017 10:07:05 AM
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.... The organisation said in January, when it announced the DPA with Rolls-Royce, that its investigation into individuals was continuing and it could bring charges within months. In the judgment in the high court on the DPA between the SFO and Rolls-Royce, Sir Brian Leveson said the company had conducted “the most serious breaches of the criminal law in the areas of bribery and corruption” and that some of the allegations “implicated senior management and, on the face of it, controlling minds of the company”. ... [Read full article on Guardian ]
Monday 27th of March 2017 05:46:01 PM
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. Samsung Electronics has apologised to shareholders for its role in a corruption case that led to South Korea's president being impeached. ... [Read full article on BBC ]
Friday 24th of March 2017 08:42:17 AM
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Latest Finance News related to Corruption

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 organisation said in January, when it announced the DPA with Rolls-Royce, that its investigation into individuals was continuing and it could bring charges within months. In the judgment in the high court on the DPA between the SFO and Rolls-Royce, Sir Brian Leveson said the company had conducted “the most serious breaches of the criminal law in the areas of bribery and corruption” and that some of the allegations “implicated senior management and, on the face of it, controlling minds of the company”. ...
Samsung Electronics chief says sorry for scandal image
Source : BBC [Read Article] Friday 24th of March 2017 08:42:17 AM
. Samsung Electronics has apologised to shareholders for its role in a corruption case that led to South Korea's president being impeached. ...
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. ...
K-Drama image
Source : BBC [Read Article] Tuesday 21st of March 2017 09:11:15 AM
....The trial is significant because South Korea's family-controlled conglomerates, or "chaebols", used to be considered untouchable given they have powered much of the country's economic growth. But in recent years, the chaebols and their family members have become the focus of public anger over inequality and corruption. ...
Brazil meat scandal: China and EU suspend imports image
Source : BBC [Read Article] Monday 20th of March 2017 08:39:48 PM
....The government suspended more than 30 senior civil servants who should have spotted the unhygienic and illegal practices. They are being investigated for corruption. ...
Happiness report: Norway is the happiest place on Earth image
Source : BBC [Read Article] Monday 20th of March 2017 08:43:03 AM
.... But the report also tries to analyse statistics to explain why one country is happier than another. It looks at factors including economic strength (measured in GDP per capita), social support, life expectancy, freedom of choice, generosity, and perceived corruption. ...
Marked down image
Source : BBC [Read Article] Wednesday 15th of March 2017 12:14:06 AM
.... . But research into an ostensibly successful anti-corruption campaign in Romania has revealed that one of the consequences is precisely the reverse of its aims: that poorer students actually performed worse in the cleaned-up exam. ...
Brazil prosecutor targets politicians in Petrobras scandal image
Source : BBC [Read Article] Tuesday 14th of March 2017 11:19:32 PM
. Brazil's top prosecutor has asked the Supreme Court to open 83 new investigations into politicians as part of a long-running corruption probe involving state oil giant Petrobras. ...
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. ...
Pay boosts for Shell and Rolls-Royce bosses despite profits slide image
....Rolls-Royce was pushed to a pre-tax loss of £4. 6bn in 2016 after it agreed to pay £671m to settle corruption cases with UK and US authorities and wrote off £4. ...
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. ...
Brazil's recession worst on record image
Source : BBC [Read Article] Tuesday 7th of March 2017 01:00:14 PM
....But as growth in the biggest element of that grouping, China, began to slow so did demand for commodities and their prices. Another drag factor has been corruption, which has engulfed Brazilian society at the highest levels, seeing off its President, Dilma Rousseff for illegally manipulating government accounts, and involving some of the country's biggest and best-known companies. ...
The oil deal, the disgraced former minister, and $800m paid via a UK bank image
....However, within days the bulk of the money was transferred through JP Morgan in London to a convicted Nigerian money launderer – a man with whom both Shell and Eni had been negotiating. “The UK authorities have some serious explaining to do,” said Barnaby Pace, a campaigner with the anti-corruption watchdog Global Witness, which has investigated this case for several years. ...
£220,000: the price super-rich will pay to keep their privacy image
Source : Guardian [Read Article] Sunday 5th of March 2017 12:04:29 AM
.... The property spans the top three floors of one block, and consists of two flats which were knocked together. The Metropolitan police have said that more than £180m of British property held by offshore vehicles has been put under criminal investigation in the past decade as the likely proceeds of corruption. ...
Christian Candy tells high court: ‘I don’t deal with shady people’ image
.... The brothers deny any wrongdoing. Under questioning by Holyoake’s barrister, Candy confirmed multiple dealings between his property business and a controversial firm of private detectives which has been investigated by Scotland Yard as part of an inquiry into the suspected corruption of Metropolitan police officers. ...
Indian economic growth slows in December quarter of 2016 image
Source : BBC [Read Article] Tuesday 28th of February 2017 01:38:30 PM
....4%. Economists had expected the economy to suffer from the government's decision to withdraw high-denomination banknotes as part of an anti-corruption drive. ...
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 is one of the biggest electronics companies in the world and for the head of a company that thrives on a premium brand image to be involved in a corruption scandal is a huge embarrassment. ...
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. ...
Former IMF chief gets four years in jail for embezzlement in Spain image
Source : Guardian [Read Article] Thursday 23rd of February 2017 04:40:36 PM
....Rato, who led the IMF from 2004 to 2007, and was a key figure in the conservative People’s party (Partido Popular or PP), was greeted with cries of “thief”, “fraud” and “thugs” when the trial began in September. The sentence is yet another embarrassment for the PP government of Mariano Rajoy, which is already mired in a series of high-profile corruption scandals. ...
Samsung head arrested over South Korean Choi-gate corruption scandal image
Source : Guardian [Read Article] Friday 17th of February 2017 12:27:38 AM
. The acting head of Samsung, South Korea’s biggest conglomerate, has been arrested in connection with the corruption and influence-peddling scandal that threatens to topple the country’s impeached president, Park Geun-hye. ...
Donald Trump is undermining the fight against corruption image
Source : Guardian [Read Article] Sunday 12th of February 2017 03:25:57 PM
.... Warren East, the company’s chief executive, has called the behaviour “completely unacceptable”. America has been at the forefront of the international fight against corruption ever since the passing of 1978 Foreign Corrupt Practices Act which sought to prevent multi-national corporations from bribing crooked officials in order to win contracts. ...
Bribery and Brexit propel Rolls-Royce towards historic losses image
Source : Guardian [Read Article] Saturday 11th of February 2017 01:42:36 PM
. Rolls-Royce will report one of the biggest losses in British corporate history this week as Brexit and a corruption scandal leave an indelible mark on the famous aerospace company. ...
Panama Papers: Mossack Fonseca founders arrested over bribery scandal image
Source : Guardian [Read Article] Friday 10th of February 2017 03:11:52 PM
. The founders of Mossack Fonseca, the law firm at the centre of the Panama Papers scandal, were arrested in Panama City on Thursday as the country’s attorney general launched a probe into their alleged connections with Brazil’s sprawling Lava Jato corruption scandal. ...
Former Rolls-Royce boss questioned in corruption inquiry image
Source : Guardian [Read Article] Friday 10th of February 2017 11:31:33 AM
. Sir John Rose, the former chief executive of Rolls-Royce, has been questioned under caution as part of the Serious Fraud Office’s investigation into a corruption scandal at the engineering group. ...
Devil-may-care investors fall under spell of Trump-mania image
Source : Guardian [Read Article] Thursday 9th of February 2017 02:31:01 PM
.... He has ruled out debt relief, saying the solution for Greece lies in the government making further cuts in pensions and benefits. This untenable position, which ignores 25% unemployment and endemic corruption, was then undermined further by a simple untruth. ...
'The UK is a tax haven' – Bermuda attacks plan to end financial secrecy image
....”. The Panama Papers exposed how thousands of offshore companies have been used to help hide the proceeds of fraud, political corruption and tax evasion. ...
Rolls-Royce faces civil service inquiry over UK state funding image
Source : Guardian [Read Article] Sunday 5th of February 2017 03:29:06 PM
....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. Rolls-Royce has apologised and is paying £671m in penalties after the endemic corruption, implicating senior employees, was exposed by anti-corruption investigators in the UK, US and Brazil. ...
HBOS manager and other City financiers jailed over £245m loans scam image
Source : Guardian [Read Article] Thursday 2nd of February 2017 03:55:21 PM
....Also sentenced were Michael Bancroft, 73, who was jailed for 10 years; Mark Dobson, 56, for four-and-a-half years; and John Cartwright, 72, for three-and-a-half years for their various roles in the fraud between 2003 and 2007. Mills’s wife Alison, 51, also played a major role in the corruption and was sentenced to three-and-a-half years. ...
Booker Tesco deal has hedge funds in a funk image
Source : Guardian [Read Article] Sunday 29th of January 2017 07:00:17 AM
.... But elsewhere, Conn really is in the middle of a seriously unfortunate trot. He was the senior independent director at Rolls-Royce in 2010 – and he was on the board from 2005 to 2014 – which suddenly looks awkward following Lord Justice Leveson’s judgment this month that the company was aware in 2010 of corruption allegations within the company, but decided not to notify the Serious Fraud Office. ...
Luxury retailers hope Chinese new year tourists will leave them crowing image
Source : Guardian [Read Article] Saturday 28th of January 2017 08:00:49 AM
....However, in Hackney one Burberry shop assistant says the outlet is not as busy as several years ago, when coachloads of visitors linked to the Chinese government would turn up. A crackdown on corruption in China has meant limits on luxury spending by such groups. ...
Hard times for luxury Swiss watches as sales drop 10% image
Source : Guardian [Read Article] Thursday 26th of January 2017 06:48:05 PM
. Sales of luxury Swiss watches dropped by 10% last year following a crackdown on corruption in China. ...
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. ...
The new robot revolution will take the boss's job, not the gardener's image
Source : Guardian [Read Article] Sunday 22nd of January 2017 01:38:08 PM
....The WEF’s argument is that the ecosystem that once ensured growth was translated into higher living standards has deteriorated as a result of technological change, global integration, domestic deregulation and increased immigration. It has a comprehensive list of remedies, including fair and efficient taxes to ensure adequate investment in education and physical infrastructure, action to tackle corruption and the concentration of rents, an adherence to core labour standard and worker protections. ...
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
.... A £5m deal “to export a television programme to the US” and a “£100m deal to export solar-farm technology to Africa” are also included in the top six outlined a fortnight ago. There is also concern that growing levels of corruption abroad will make it difficult for companies to operate, especially in the Middle and Far East, where legal disputes end up in decades-long wrangles. ...
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
....The revelation is contained in court documents filed by the Serious Fraud Office as part of the admission by Rolls-Royce that it had acted corruptly in 12 countries, including India. 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. ...
'Of the very greatest gravity’: key quotes from the Rolls-Royce bribery scandal image
. The judgments on the corruption charges against Rolls-Royce and the statement of facts behind the case clearly implicate former executives within 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. ...
What did Rolls-Royce directors know about bribery scandal? 'No comment' image
Source : Guardian [Read Article] Thursday 19th of January 2017 07:00:30 AM
. The leadership of Rolls-Royce knew in 2010 about allegations regarding corruption within the company but decided not to notify the Serious Fraud Office, according to the damning judgment on the scandal from Lord Justice Leveson. ...
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. ...
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. ...
He's had three strikes. Surely Pearson's chief executive is out? image
Source : Guardian [Read Article] Wednesday 18th of January 2017 07:19:40 PM
....A senior high court judge called Rolls-Royce’s conduct, for which it will pay £671m in penalties, “egregious criminality over decades”. Sir Brian Leveson also said Rolls-Royce had known about potential corruption in 2010 but decided not to notify the Serious Fraud Office. ...
Libor scandal: the bankers who fixed the world’s most important number | Liam Vaughan and Gavin Finch image
.... A practising Catholic, McGonagle got his law degree from Pepperdine University, a Christian school in Malibu, California, where students are prepared for “lives of purpose, service and leadership”. While his classmates took highly paid positions defending companies and individuals accused of corporate corruption, McGonagle opted to build a career bringing cases against them. ...
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. ...
Rolls-Royce apologises in court after settling bribery case image
Source : Guardian [Read Article] Tuesday 17th of January 2017 01:29:50 PM
....The engineering giant Rolls-Royce has apologised after it was found to have paid bribes including a luxury car and millions of pounds’ worth of cash to middlemen to secure orders in six countries, including Indonesia, Russia and China. Britain’s leading multinational manufacturer made the admissions on Tuesday at the high court in London, a day after it was revealed that it would pay £671m in penalties to settle long-running corruption allegations. ...
Rolls-Royce’s SFO settlement is big, ugly and serious image
Source : Guardian [Read Article] Monday 16th of January 2017 07:24:51 PM
.... For 2017, the City expected only break-even at a cash level. This penalty for bribery and corruption in foreign markets – details to be revealed in court on Tuesday – has landed at a bad moment. ...
Rolls-Royce to pay £671m over bribery claims image
Source : Guardian [Read Article] Monday 16th of January 2017 05:32:13 PM
....Rolls-Royce, Britain’s leading multinational manufacturer, is to pay £671m in penalties after long-running investigations into claims it paid bribes to land export contracts. The settlement means the engineering giant will avoid being prosecuted by anti-corruption investigators in the UK, US and Brazil, though individual executives may still be charged. ...
Samsung boss faces arrest as South Korea corruption scandal grows image
Source : Guardian [Read Article] Monday 16th of January 2017 06:18:48 AM
. Prosecutors investigating a corruption scandal that has plunged South Korea into its biggest political crisis in decades are seeking a warrant for the arrest of the acting head of Samsung, the country’s most powerful conglomerate, on bribery charges. ...
Trump Organization handover plan slammed by ethics chief image
Source : BBC [Read Article] Thursday 12th of January 2017 04:57:49 AM
...."He clearly recognises that public service sometimes comes at a cost," Mr Shaub said of Mr Tillerson. Although presidents are not subject to the same conflict of interest rules as other government employees, previous commanders-in-chief have placed their investments into a blind trust to prevent any question of corruption. ...
Samsung boss questioned in South Korea corruption probe image
Source : BBC [Read Article] Thursday 12th of January 2017 02:13:29 AM
. Samsung chief Lee Jae-yong has been questioned at the prosecutor's office in Seoul as a suspect in South Korea's biggest political corruption scandal. ...
South Korea scandal: Samsung chief Lee Jae-yong a suspect image
Source : BBC [Read Article] Wednesday 11th of January 2017 07:33:51 AM
. Samsung heir-apparent Lee Jae-yong is to be interviewed as a suspect in a corruption scandal surrounding the impeached South Korean president. ...
Samsung execs quizzed over government corruption scandal image
Source : BBC [Read Article] Monday 9th of January 2017 03:29:40 AM
. Two senior Samsung executives have been questioned as part of the corruption probe surrounding South Korea's impeached president, Park Geun-hye. ...
Is the UK-Nigeria pact to fight corruption effective? image
Source : BBC [Read Article] Friday 6th of January 2017 10:03:26 PM
. In 2016 the Nigerian government signed a landmark agreement essentially meaning that money stolen through corruption in Nigeria and transferred to the UK, can be seized and returned. ...
Related to :
India sees long bank queues as rupee deadline passes image
Source : BBC [Read Article] Friday 30th of December 2016 03:10:11 AM
....There has been widespread disruption since Prime Minister Narendra Modi said in November that 500 and 1,000 rupee notes would no longer be legal. The move was meant to curb corruption. ...
South Korea pension fund head arrested in scandal probe image
Source : BBC [Read Article] Wednesday 28th of December 2016 06:21:02 AM
. South Korea's pension fund head has been arrested in a probe into alleged corruption involving electronic firm Samsung and the country's president. ...
India rupee ban: Snapdeal to deliver cash image
Source : BBC [Read Article] Friday 23rd of December 2016 07:15:03 AM
....That system is run in partnership with Yes Bank, which has also teamed up with taxi firm Ola to provide mobile ATMs. India's Prime Minister Narendra Modi announced that 500 and 1,000 rupee notes were no longer legal tender as part of a crackdown on corruption on 8 November. ...
Adani coalmine 'covertly funded' by World Bank, says report image
Source : Guardian [Read Article] Thursday 22nd of December 2016 05:33:56 AM
....Adani’s loan application to the Australian government’s Northern Australia Infrastructure Facility has conditional approval, but questions persist about its eligibility, and the issue of taxpayers lending to a project held by corporate structures linked to the Cayman Islands tax haven. The Adani group is also embroiled in several Indian criminal investigations into possible fraud and corruption, including the alleged siphoning of money offshore through an invoicing rort and the alleged profiteering on imported coal through inflated valuations. ...
Brazil's Odebrecht fined at least $2.6bn for bribery image
Source : BBC [Read Article] Wednesday 21st of December 2016 06:10:49 PM
....6bn and Braskem will pay $957m for bribery across the globe. One of the biggest examples of corruption involved Odebrecht paying bribes to officials of Brazil's state-run oil company, Petrobras, which is itself at the centre of a huge corruption scandal. ...
Tax avoidance, expenses scams – welcome to the recruitment industry | Adrian Gregory image
.... However, a budget of £4. 5m a year is hopelessly inadequate to fight corruption within such a large industry. ...
Rolls-Royce exploited US sanctions loopholes to trade with Iran image
Source : Guardian [Read Article] Wednesday 21st of December 2016 10:30:15 AM
....Earlier this year, Australia’s Fairfax Media published an investigation into the oil and gas services firm Unaoil after a leak of the company’s emails. Police subsequently raided the firm’s headquarters in Monaco as part of an investigation into “a vast, international corruption scandal implicating numerous foreign oil industry firms”, according to a statement released by the Monégasque government. ...
Fears that EU measures against financial crime will be weakened image
Source : Guardian [Read Article] Tuesday 20th of December 2016 06:34:58 PM
....Chris Taggart, of the financial transparency group OpenCorporates, warned that the weakened measures would constitute governments returning to “business as usual” less than a year after the Panama Papers. “We have seen the results of disclosing beneficial ownership information privately on an honour system and it’s obvious that this hasn’t been good enough to fight corruption, tax evasion and other financial crimes,” Taggart said. ...
Israel arrests Beny Steinmetz associate in Guinea investigation image
Source : Guardian [Read Article] Tuesday 20th of December 2016 06:08:33 PM
....Steinmetz has declined to make any comment. BSGR was stripped of its rights to the Simandou concession in 2014 after an investigation by a newly elected government in Guinea concluded that it had been acquired through corruption. ...
Ed Miliband slams Sky bid: 'Murdoch has learned nothing' image
Source : Guardian [Read Article] Tuesday 20th of December 2016 01:45:43 PM
....”. In the ensuing debate, several Labour MPs said the bid must be delayed until after part 2 of the Leveson inquiry, which is looking into allegations of corruption in the relationship between the press and the police. ...
UK MPs unite to push for greater transparency from tax havens image
Source : Guardian [Read Article] Tuesday 20th of December 2016 12:01:33 AM
....The move is expected to face fierce opposition from the handful of the UK’s overseas territories – including the British Virgin Islands, Turks and Caicos Islands and Anguilla – that have become some of the world’s most active secrecy havens. Earlier this year, the Panama Papers scandal laid bare how offshore corporate secrecy regularly attracts illicit money flows linked to terrorism, corruption, money laundering, tax evasion, drugs and fraud. ...
IMF chief on trial image
Source : BBC [Read Article] Monday 19th of December 2016 03:16:17 PM
....Profile: IMF chief Christine Lagarde. Many accused Ms Lagarde of cronyism, and in 2011 a group of Socialist MPs launched a corruption case against her. ...
Christine Lagarde: IMF chief convicted over payout image
Source : BBC [Read Article] Monday 19th of December 2016 02:29:35 PM
....Ms Lagarde, 60, was tried on charges of "negligence by a person in position of public authority". Accused of allowing the misuse of public funds, rather than actual corruption, she could potentially have been sentenced to a year in prison and a fine of €15,000, but escaped a sentence and emerges from the trial without a criminal record. ...
Europe development banks plan £5.5bn backing for gas project ‘with mafia links’ image
....8bn (£5. 5bn) – for a gas pipeline being built by several firms with historic links to cartels, corruption and the mafia, according to a new report (pdf). ...
Rolls-Royce winning contracts legitimately key to growth, says CEO image
Source : Guardian [Read Article] Wednesday 14th of December 2016 08:08:31 PM
....Speaking at the group’s main Derby site where its flagship Trent XWB jet engine is assembled, he said it was wrong to claim that bribes were a legitimate cost of doing business in some regions and that to do so was “a little bit of an excuse”. The defence sector has been riddled with allegations of corruption because of the secrecy surrounding contracts and their high value. ...
IMF chief Christine Lagarde in negligence trial in France image
Source : BBC [Read Article] Monday 12th of December 2016 01:24:59 PM
....Mr Tapie had supported Mr Sarkozy in the 2007 presidential election. She is accused of allowing the misuse of public funds, rather than corruption. ...
‘Who buys fish with a credit card here?’ Traders scoff at Goa’s bid to ditch cash image
....For the last two years, Modi has been encouraging digital transactions through his flagship digital India and smart cities schemes, but the de-monetisation fumble has resulted in a new emphasis on card and mobile payments, as government mints fail to keep pace with demand for new currency. Digital payments, he says, will prevent the use of illegal, untaxed “black money”, which fuels crime, corruption and terror. ...
Cut fixed-odds betting stakes to £2, MPs urge image
Source : Guardian [Read Article] Thursday 8th of December 2016 12:28:54 PM
....She said cutting the maximum stake had support from all political parties, both houses of parliament and “a significant majority of the public”. Professor Peter Collins, a veteran gambling expert who has advised successive governments, said failure to reduce the maximum stake would now be seen by the public as a measure of “corruption or stupidity” among politicians. ...
India surprises by holding rates at six-year low image
Source : BBC [Read Article] Wednesday 7th of December 2016 10:35:56 AM
.... At others, police were called in to manage queues of anxious customers hoping to change their savings for legal tender. The surprise government move is aimed at tackling corruption and tax evasion. ...
Samsung tells South Korea corruption inquiry of 'gift horse' image
Source : BBC [Read Article] Tuesday 6th of December 2016 04:03:37 AM
. Electronics company Samsung has admitted it gave a horse to the daughter of a woman who is at the centre of a corruption scandal embroiling the South Korean president. ...
Human rights abusers who buy London homes could have assets seized image
Source : Guardian [Read Article] Sunday 4th of December 2016 10:45:24 PM
....”. The Home Office says the bill, introduced in October, will significantly improve the government’s ability to tackle money laundering and corruption, recover the proceeds of crime and impact upon terrorist financing. ...
GSK's Andrew Witty: the man who sold the world cheaper medicines image
Source : Guardian [Read Article] Friday 2nd of December 2016 07:00:09 AM
....The access to medicine index, which has been going since 2008 and is funded by the Gates Foundation and the UK and Dutch governments, was not entirely complimentary about GSK. The company lost points for a corruption scandal in China, which Witty calls “a disappointment”. ...
Revealed: Coutts managed tax haven firms for controversial clients image
Source : Guardian [Read Article] Thursday 1st of December 2016 11:01:45 AM
....The Jersey trustees business was put up for sale by Coutts in October, and senior management of Coutts & Co Jersey are negotiating to buy it. The bank said: “We take our responsibilities under anti-money laundering (AML) and anti-corruption regulations extremely seriously and have policies in place to ensure compliance with the regulations in the jurisdictions where we operate. ...

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