Sony BMG, the world’s second-biggest record label, has agreed to pay $10m (£5.7m) and stop paying radio station employees to play its artists’ songs.
The settlement follows an investigation into “pay for play” practices in the music industry, conducted by New York Attorney General Eliot Spitzer
Volkswagen has paid the Indian state of Andhra Pradesh around 2 million euros (£1.4m; $2.4m) in compensation for misdealings linked to the carmaker
Irish airline Aer Lingus looks set for a bumpy ride with unions after a leaked memorandum exposed underhand tactics to speed up a job cuts programme.
The state-owned carrier developed a 12-point plan to make life difficult for its employees in a bid to make them accept voluntary redundancy.
Plans included changing shift patterns and making staff wear tacky uniforms
A pension fund that holds shares of Morgan Stanley has sued the giant investment bank’s directors, claiming they wasted corporate assets through “grotesque mismanagement,” including paying more than $100 million to two departing executives.
The suit, filed yesterday in U.S
A member of the board of German chip firm Infineon has offered to step down following allegations of bribery.
Andreas von Zitzewitz, the firm said, was under investigation “in context with payments made for contracts regarding motorsport sponsorship”.
Dr von Zitzewitz led the firm’s memory chip unit, the core of operations at Europe’s second-biggest chip maker
MyTravel has been fined £240,000 ($450,000) by the City watchdog for failing to tell investors about a change in its profit forecasts.
The Financial Services Authority (FSA) said it had not told investors promptly about a one-off £24.3m ($45m)loss in 2002, which was likely to affect profits
Venezuela has ordered oil giant Shell to pay $131m (£74m) in what it says is unpaid tax, as part of a clampdown on alleged tax avoidance by foreign firms.
In a separate move, the country’s tax authority seized documents belonging to US oil firm Chevron which it said had not been produced upon request.
Venezuelan authorities have said that foreign firms may owe up to $3bn (£1
Former Worldcom boss Bernard Ebbers has been sentenced to 25 years in jail for his part in the scandal which brought down the firm.
Mr Ebbers was found guilty of fraud and conspiracy in March, following revelations of an $11bn (£6.2bn) accounting fraud at Worldcom in 2002
The European Commission has raided the offices of Intel and other computer makers across Europe as part of a probe into possible anti-trust violations.
Intel has been involved in a lengthy investigation by Brussels over alleged unfair trade practices.
“The investigations are being carried out within the framework of an ongoing competition case,” said European Commission spokesman Jonathan Todd
A US court has jailed New York Times journalist Judith Miller for refusing to testify in an investigation into the unmasking of a CIA agent in 2003.
Miller has argued journalists must be allowed to keep sources confidential in order to preserve freedom of the press.
Time magazine reporter Matthew Cooper, who had also refused to give evidence, said he had received a “dramatic” message, freeing him to testify