Company

UK Southern Water fined 40million

Regulators have confirmed a £20.3m ($40m USD) fine imposed on Southern Water for poor service and reporting misleading data.

Ofwat first announced the fine in November and confirmed it on Friday after a period of consultation

The AES Corporation in Panama

User submitted article:

“Cultural Survival (www.cs.org) deal with indigenous rights issues

Korea jails Lone Star executive

Texan private equity firm Lone Star has been found guilty of stock price manipulation by a South Korean court.

The Seoul court fined the Dallas-based company $27m (£13.6m) and sentenced Paul Yoo, the head of its Korean unit, to five years in prison

Intel faces inquiry in New York

Intel, the world’s biggest computer chipmaker, is being investigated by New York Attorney General Andrew Cuomo over whether it broke anti-trust laws.

Mr Cuomo is looking into claims that Intel stopped customers from dealing with rival Advanced Micro Devices.

Intel has cut prices and tried to boost efficiency as AMD has made efforts to become the world’s top producer

BA accused over air cargo cartel

British Airways has been accused of colluding in setting prices of fuel surcharges and other levies in the provision of air freight services.

BA confirmed it received a letter of complaint from European Union regulators, alleging that it was part of a suspected air freight cartel.

The complaints were also sent to Germany’s Lufthansa, Air France-KLM and Scandinavia’s SAS

Norwich Union fined on £3m fraud

Insurance firm Norwich Union has been fined £1.26m ($2.5m) by the Financial Services Authority (FSA) after customers lost £3

Mitsubishi duo guilty over faults

Two ex-Mitsubishi members of staff have been found guilty of professional negligence over the death of a woman crushed by a wheel falling off a truck.

The Mitsubishi Fuso truck model was later recalled by the Japanese firm.

Hiroshi Murakawa, 61, and Hirotoshi Miki, 59, had been overseeing quality control at Mitsubishi Motors

US airline payout angers workers

Unions representing workers at United Airlines have reacted with anger to the US carrier’s plans to pay a $250m (£123m) dividend to its shareholders.

Thousands of staff took pay cuts to help the airline rebuild its finances after it went into bankruptcy in the aftermath of the 9/11 attacks.

Union officials said the investor payout betrayed the efforts of staff to revive the airline’s reputation

Supermarkets admit milk price fix

Supermarket firms Sainsbury’s and Asda have admitted that they were part of a dairy price-fixing group that earned about £270m ($550m) extra from shoppers.

The supermarkets, along with a number of dairy firms, have agreed to pay fines totalling some £116m ($240m) after an Office of Fair Trading (OFT) probe.

Cases against Tesco and Morrisons will continue after no deal was struck

Nigeria probes Siemens bribe case

A Nigerian anti-corruption agency has begun investigating former ministers alleged to have taken bribes from the German telecoms firm, Siemens.

Siemens was found guilty of paying bribes and was fined 201m euros ($248m) by a Munich court on 4 October.

Names on the court papers that emerged last week included Bello Mohammed Haliru, the late Haruna Elewi and Tajudeen Olanrewaju