Unaoil Bribed Ex-Iraqi Official For Oil Contracts, SFO Says
Employees of energy consulting company Unaoil bribed an Iraqi oil official to "tip the scales" in favor of companies vying for lucrative government contracts to rebuild the country's war-damaged infrastructure, prosecutors said at the start of a trial on Thursday.
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Three former bankers have to pay collapsed Russian lender Trust National Bank $900 million in compensation, after a London judge ruled Thursday that they had funneled hundreds of millions of dollars out of the Russian lender for their own benefit.
IBM hammered away Thursday at the chief executive of a British insurer suing for £130 million ($170 million), calling for any evidence that the tech giant failed to report substantial problems with a technology system it was hired to build.
Swiss lender Credit Suisse denied knowing about a $2 billion fraud and bribery scam tied to loans the bank made to Mozambique, rejecting the African country’s claims that it’s liable for the actions of three of its former employees.
The European Commission sent a lawyer to the Supreme Court in London on Thursday to weigh in on a long-running dispute between Visa, Mastercard and some of the U.K.’s biggest retailers over fees, saying that a lower appeals court applied EU law correctly to the dispute.
The European Parliament blocked a senior Central Bank of Ireland official from stepping into a top role at the bloc’s banking watchdog on Thursday because of concerns about his ties to the banking sector.
Lloyd’s of London has appointed a so-called whistleblowers’ champion to its board, a month after a financial regulator censured the corporation for cutting off a hotline for reporting wrongdoing.
A European Court of Justice advocate general said Wednesday that the court should back £44.99 million ($59 million) in U.K. government fines against GlaxoSmithKline PLC and generic-drug makers accused of cutting anti-competitive pay-for-delay deals, in an opinion that could have important implications for other pay-for-delay cases before the top court.
The U.K’s competition watchdog has whopped Fender with a £4.5 million ($5.9 million) fine after the guitar maker admitted it had been breaking antitrust law by requiring British retailers not to sell its guitars below a set rate.