The Office of Fair Trading (OFT) has referred Apple’s iTunes service to the European Commission on grounds that it overcharges UK customers.
The move follows a complaint from Which? that iTunes charges UK users 20% more than those in France and Germany.
Which?, formerly the Consumer Association, also complained that the UK customers were barred from logging on to the French and German sites
Nigeria’s senate is to consider sanctions against a unit of Dutch and UK oil company Shell for failing to pay a $1.5bn (£775m) pollution penalty.
The firm had been told to make the payment by 23 November for alleged environmental damage caused by oil spillage in the Niger Delta region
United Kingdom water group AWG is back into profit but still plans to cut jobs after its plan to increase charges next year was thwarted by industry regulator Ofwat.
Huntingdon, England based AWG posted profits of £33.9m for the six months to 30 September against losses of £46
Germany’s largest telecoms company, Deutsche Telekom, was in the dock on Tuesday as investors claimed it misled them during the internet boom.The judge seemed to agree it had valued its properties inappropriately, but rejected some other parts of the case.
The telecoms giant faces lawsuits from 2,100 shareholders who are demanding a total of 100m euros (£70m; $130m) in damages
BMW’s UK chief has launched a scathing attack on the four businessmen who own MG Rover, branding them “the unacceptable face of capitalism”.
Managing director Jim O’Donnell said it was “disgusting” that MG Rover’s owners paid themselves fat salaries while losses continued at the company.
The “Phoenix four” were sold MG Rover by German owners BMW back in May 2000 for just £10 (14 euros)
National Australia Bank, the country’s biggest lender, has seen its profits slump following a trading scandal.
Increased competition and rising costs have also taken their toll, producing what boss John Stewart called a “poor and unacceptable result”.
Profit in the six months through 30 September was 1
Shares in US drug maker Merck tumbled nearly 10% on Monday after a press report suggesting the firm may have ignored problems with one of its drugs.
Merck withdrew Vioxx, a top-selling painkiller, on 30 September after evidence linking it to heart problems.
The Wall Street Journal has now published e-mails which, if genuine, suggest Merck may have known about the concerns for years, the paper says
The US government will set up an inquiry into the no-bid Iraq contracts given to Halliburton, the company once run by Vice President Dick Cheney.
The move is the latest embarrassment for the firm, which faces losing its Iraq contracts with the US Army.
Halliburton’s Iraq deals had been criticised by the International Advisory Monitoring Board, a UN group monitoring the use of Iraq’s resources
Norwegian oil and gas giant Statoil has agreed to pay a 20m-kroner ($3m; £1.7m) penalty imposed upon it for alleged bribery in Iran.
The company has however “not admitted or denied the charges”
Japanese banking giant UFJ has been raided by prosecutors investigating whether the group hindered an official probe into bad loans.
The raid is thought to have come in response to a complaint filed by Japan’s markets watchdog on Thursday.
The Financial Services Agency also banned UFJ from lending to new clients for six months