Goldman Sachs has been fined $800,000 by a US regulator for “failing” to ensure that trades in its dark pool took place at the best price.
The regulator said more than 395,000 trades were executed in the bank’s Sigma X dark pool at an inferior price during an eight-day period in 2011.
But it added that Goldman was “unaware” of the issue at the time
Allegations that pharmaceutical giant GlaxoSmithKline (GSK) systematically bribed doctors in China are credible, says an investigator hired by the firm.
Peter Humphrey was hired only to investigate who was behind a suspected smear campaign against GSK.
But after he finished his report, he learned the details of further allegations against the firm and told colleagues he believed they were true
Payday lender Wonga must pay £2.6m in compensation after sending letters from non-existent law firms to customers in arrears.
The letters threatened legal action, but the law firms were false
British Gas has been fined £2.5m by the regulator Ofgem for the way in which it deals with customer complaints.
Ofgem ruled that the company had failed to re-open complaints when customers said they had not been resolved
Hedge funds are behind “land grabs” in Africa to boost their profits in the food and biofuel sectors, a US think-tank says. In a report, the Oakland Institute said hedge funds and other foreign firms had acquired large swathes of African land, often without proper contracts. It said the acquisitions had displaced millions of small […]
The US Supreme Court has denied an appeal by Microsoft against a $290m verdict for infringing a small Canadian company’s patent.
The company, i4i, sued Microsoft in 2007, saying it owned the technology behind a text manipulation tool used in Microsoft’s Word application.
The technology gave Word 2003 and Word 2007 users an improved way of using a document’s contents
Four car glass makers have been hit with the European Commission’s largest cartel fine after being found guilty of “cheating” car buyers.
Asahi Glass, Pilkington, Saint-Gobain and Soliver have been ordered to pay 1.38bn euros (£1
US politicians have agreed on the details of $700bn Wall Street bail-out package to be sent to Congress for approval, a Republican negotiator says. The measures would enable the US Treasury to spend up to $700bn taking over bad debts from ailing financial institutions. The taxpayer will be taking on debts of banks, investment banks, […]
Barclaycard has received the maximum possible fine for the “most serious and persistent” case of silent calls ever seen by regulator Ofcom.
The credit provider was hit with a £50,000 fine after an Ofcom investigation uncovered an extremely high number of silent calls.
Typically, these occur when call centres with automated systems dial more numbers than staff can deal with
A mortgage firm has been fined £1.12m after failures resulted in hundreds of borrowers suffering losses of £2.3m