US financial information group Experian has settled charges that it deceived consumers into signing up to a credit monitoring service.
UK-owned Experian lured people into signing up to the service by offering them free credit reports, the US Federal Trade Commission (FTC) said.
Consumers were not adequately informed that they would be tied into the credit monitoring service, the FTC said
Venezuelan tax authorities have closed a Royal Dutch Shell office for 48 hours and asked for an injunction on some of the oil firm’s assets in a tax dispute.
The row centres on a $131m (£74m) bill for back taxes covering 2001-2004, presented to the oil giant in July.
Venezuela’s tax authority said it had put a hold on Shell goods worth $131m and shut its office in Lake Maracaibo
Worldcom’s former finance chief has been sentenced to five years in jail for his part in the largest accounting fraud in US corporate history.
Scott Sullivan played a key role as a “star” prosecution witness in the case against former Worldcom chief Bernie Ebbers who was jailed for 25 years.
The 43-year-old pleaded guilty to conspiracy, securities fraud and making false financial filings
Semiconductor maker Intel is facing a probe into its sales practices in South Korea, echoing similar inquiries in Europe and Japan.
Intel revealed it was co-operating with the country’s Fair Trade Commission which has requested documents relating to marketing and rebate schemes.
Earlier this year the firm was rebuked for violating antitrust laws in Japan, and is also under scrutiny by Brussels
The US Justice Department has begun an inquiry into allegations of bribery at DamilerChrysler’s Mercedes unit, the German-US carmaker has confirmed.
DaimlerChrysler said it was co-operating fully, and has made all its accounts available.
The criminal probe escalates a civil one by the US market watchdog, the Wall Street Journal reported on Friday
Germany’s financial market watchdog has launched a probe into possible insider trading in shares of carmaker DaimlerChrysler.
DaimlerChrysler’s share price jumped last week ahead of chief executive Juergen Schrempp’s announcement that he would step down at the end of the year.
Following the announcement, the shares surged as much as 10%
The Canadian bank last night agreed to pay $2.4 billion to settle allegations that it was involved in the Enron fraud. The sum, the largest settlement in the case so far, boosts the total sum to be returned to former shareholders of the collapsed energy giant to a record $7 billion
Time Warner said today that it had agreed to pay $2.4 billion to shareholders who accused its AOL unit in a lawsuit of exaggerating revenues in order to push through the companies’ merger in 2001.
The cost of settling the legal dispute offset all of Time Warner’s earnings from the second quarter, and the company posted a net loss of $321 million
Japanese prosecutors arrested three former executives of cosmetics firm Kanebo on Friday for alleged fraud.
The troubled firm is currently being managed by the state-backed Industrial Revitalisation Corporation of Japan.
The charges facing the three executives, including former president Takashi Hoashi, are that the firm hid debts for five years to March 2003
Commerzbank, Germany’s fourth-largest lender, has confirmed that five executives and former staff are caught up in a Russian money-laundering probe.
Frankfurt prosecutors searched offices last week on Tuesday and Wednesday, the bank said. Premises were also checked elsewhere in Germany and Switzerland