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Dell restates profits after probe

Computer company Dell has said it will restate four year’s worth of accounts because figures were tweaked so that the firm could meet earnings targets.

Dell said that the changes would cut about $150m (£75m) from its net profit, less than many analysts had predicted.

An audit found that “certain adjustments appear to have been motivated by the objective of attaining financial targets”, Dell explained

BA’s price-fix fine reaches $550 million

British Airways has been fined about $550 (£270m) after it admitted collusion in fixing the prices of fuel surcharges.

The US Department of Justice has fined it $300m (£148m) for colluding on how much extra to charge on passenger and cargo flights, to cover fuel costs.

It followed a decision by the UK’s Office of Fair Trading to fine BA $250m (£121

Former Qwest boss gets jail term

Joseph Nacchio, the former boss of Qwest Communications, has been sentenced to six years in jail for insider trading.

He has also been ordered to hand over the $52m (£25m) he made from illegal stock trading and has been fined $19m.

Nacchio was found guilty of selling shares ahead of bad corporate news, and hiding information from investors

EU outlines Intel market abuse

Intel abused its dominant position in Europe by giving customers incentives to favour its products over those of its main competitor, regulators allege.

The initial findings of a probe by the European Commission has concluded the chip firm engaged in anti-competitive action to thwart principal rival AMD.

Regulators have the power to fine Intel up to 10% of annual turnover if they find it guilty of stifling competition

Judge dismisses Parmalat US trial

A US federal judge has ruled that two banks and two auditors will not need to face charges over the collapse of Italian dairy firm Parmalat in 2003.

US district judge Lewis Kaplan said much or all of the alleged improper conduct took place outside of the US.

Citigroup, Bank of America, Deloitte Touche Tohmatsu and Grant Thornton will now not need to face charges, he said

BP faces fines after Texas blast

The US Occupational Safety and Health Administration (OSHA) has said it will fine BP $92,000 (£44,700) for breaches after a fatal blast in Texas in 2005.

The explosion and fire at BP’s Texas City refinery killed 15 people and injured 180 staff.

The citations, including one for a violation OSHA said may have led to another major accident, come from its post-blast monitoring of the plant

Nigeria files new Pfizer claims

Nigeria has accused Pfizer of fraud in a fresh court case filed against the drugs firm over its alleged role in the deaths of Nigerian children.

The government earlier withdrew the case – just as it was due to begin in the capital Abuja – to add new charges.

The government is seeking $7bn (£3

Parmalat to face US group lawsuit

Italian dairy firm Parmalat can be sued by shareholders in a lawsuit concerning the collapse of its predecessor, a US judge has ruled.

Parmalat Finanziaria fell in 2003 under 14 billion euros ($18.6bn; £9

Siemens ex-managers found guilty

Two former Siemens managers have been convicted by a German court of their involvement in paying 6m euros (£4.1m; $8m) in bribes to win contracts.

Andreas Kley, 63, received a two-year suspended sentence for bribery and breach of trust, while Horst Vigener, 73, was given nine months’ probation

Paribas fined $700,000 over fraud

The private bank of one of France’s biggest banks – BNP Paribas – has been fined $700,000 (£350,000) for allowing a senior manager to steal money from clients.

The Financial Services Authority (FSA) said controls in the bank’s London office were so weak that the employee had been able to take $3m (£1.4m)