Volkswagen has postponed making a decision on plans to build a new factory in India in the wake of a bribery scandal at the German carmaker.
Business daily Handelsblatt said VW boss Bernd Pischetsrieder had put the plans on hold amid allegations of bribes relating to the project.
Last week VW called in auditors KPMG to review bribery allegations at the firm
South Korean prosecutors have charged the founder of one of the country’s biggest industrial groups with fraud.
Kim Woo-Choong is accused of falsifying the books at the Daewoo Group and procuring loans under false pretences.
The group collapsed in 1999 under debts totalling more than $80bn (£45bn) and Mr Kim fled the country, only returning last month
Microsoft is to pay $775m (£438.4m) to computer giant IBM to settle an anti-trust claim.
Under the settlement, the software maker will also give IBM a $75m credit for its computer programmes
Citigroup, the US owner of Citibank, is to be fined £13.9m ($25.31m) by the UK’s Financial Services Authority (FSA) after a controversial bond trade
Financial regulators are investigating how computer giant IBM awarded share options to its staff earlier this year.
IBM revealed on Monday that it was the subject of an informal probe by the Securities and Exchange Commission (SEC) and was co-operating fully.
The inquiry is thought to be linked to IBM’s announcement of disappointing quarterly trading results in April
A senior Russian government minister has told the BBC that political reasons have played a role in the prosecution of the country’s wealthiest man.
Economy Minister German Gref said the case against Mikhail Khodorkovsky had “a certain political element”.
The trial of the oil billionaire, who is charged with tax evasion and fraud, will restart on 12 July
US federal prosecutors have built a criminal case against KPMG and are debating whether to file charges, the Wall Street Journal reported.
KPMG, one of the “big four” global accounting firms, said on Thursday it was in talks with the US Justice Department and co-operating fully.
It said it took “full responsibility for the unlawful conduct by former KPMG partners” and deeply regretted it
US drugs company Bristol-Myers Squibb has agreed to pay $300m (£165m) into a shareholders’ fund, as prosecutors charged two former executives.
The firm and executives were accused of a practice called “channel stuffing” – offering incentives to get wholesalers to buy more of the company’s products.
The scheme boosted earnings at the firm, which has now agreed a “deferred prosecution” with Newark lawmakers
Civil liberties groups have condemned an arrangement between Microsoft and Chinese authorities to censor the internet.
The American company is helping censors remove “freedom” and “democracy” from the net in China with a software package that prevents bloggers from using these and other politically sensitive words on their websites.
The restrictions, which also include an automated denial of “human rights”, are built into MSN Spaces, a blog service launched in China last month by Shanghai MSN Network Communications Technology, a venture in which Microsoft holds a 50% stake
J. P. Morgan Chase announced last night that it had agreed to pay $2